How To Measurement Plan
As January’s blog discussed, it’s important to have an effective measurement plan as you scale your business. The below template can help you look at your overall business goal, whilst also taking into consideration the segmentation that occurs within any project, and the different business units that are involved.
Each business unit will have different indicators of success that need to be measured – not everything should be judged on sales and revenue – and you can also see how these values bleed into each other at certain junctures. The template can form the basis of strategic planning meetings and is a great source of truth to revisit as the project rolls out, helping you track your progress and refocus the team.
Objective – What is the purpose of this project? What are you hoping to achieve and why is it a focus right now?
Strategy – What are the key pillars of your strategy for execution of the project? What different departments are involved in the project?
Tactics – Within each department, what are the main tactics you will employ as you work towards the overall goal?
KPIs – How will you measure the success rate of your tactics? What are the indicators of success of failure – this will be dramatically different for each department.
Segments – What different sources is the data coming from? How will you segment the data to glean in depth learnings from it?
Targets – It’s useful to quantify the overall targets you are aiming at each stage of the project, this will help you understand the success of the project, once completed, and where its downfalls were.
An example of a Measurement Plan
A Measurement Plan Template
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