Do You Monitor the Driver to Success?

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When you set a performance target, do you also establish a performance driver and monitor it?

For example, an increase in market share. Does your marketing team identify what it should focus on? It is easy and convenient to set a generic target. But it is counter-productive when you don’t know what you should focus on. It this case, it could be the products. When you don’t have the driver identified, I can assure you that your team would end up spending time and effort on chasing too many potential opportunities. It is a waste of time and effort.

To focus your effort, you need to identify the driver that would deliver the best incremental increase in market share. You get better results because you would tailor your marketing campaign around the select product SKUs and you monitor the corresponding conversion rates.

All too often, companies attempt to do too much and they are not disciplined in identifying the performance drivers. With clear performance drivers and when you monitor them, you have a decisive filter for your actions and you would not commit resources on unrewarding work.

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