Defining goals and selecting KPIs

Clear goals turn strategy into something actionable. These goals describe what success looks like, while key performance indicators (KPIs) show if progress is being made. Without them, a strategy risks becoming vague or unmeasurable.

Goals can address revenue growth, customer retention, or adoption in new regions. KPIs make these goals concrete. Examples include monthly recurring revenue, churn rate, or Net Promoter Score. Linking each goal to a measurable indicator helps teams track progress and decide when adjustments are needed.

Practical steps involve first benchmarking current performance, then setting realistic targets. For instance, if retention is a priority, monitor churn and gather user feedback to understand why customers leave. If growth is the aim, track new sign-ups or expansion into specific markets. By tying goals directly to metrics, strategy becomes a living framework that can guide everyday decisions.