Avoid Vanity Metrics
AVOID VANITY METRICS
THERE ARE 2 TYPES OF DATA VANITY ACTIONABLE
VANITY - FEEDS THE EGO
Vanity metrics are metrics that make you look good to others but don't help you understand your own performance. They don't assist in helping you make better and more informed decisions in the future.
- Page Views
- Registered Users
- Download Count
ACTIONABLE - FEEDS THE BUSINESS
Actionable metrics are metrics that help you make informed decisions moving forward. They generally have a direct impact on business revenue, goals or objectives.
- Conversion rate
- Funnel dropoff %
- NPS score
AN EXAMPLE Imagine you owned an online fashion store. You received 100,000 visitors a month, which is great. However the store only receives 100 sales.
STOP FOCUSING ON INCREASING TRAFFIC
START OPTIMISING YOUR STORE'S CONVERSION RATE
E-COMMERCE GOALS = SALES FOCUS ON METRICS THAT MATTER.