For near-term growth-orientated product teams (often called “growth teams”) and marketing teams, focussing on the immediately measurable should not translate to focussing on the trivial. The size of the changes you’re willing to make, will directly correlate with the size of your returns.
Put another way:
A billion dollar company was never built off better button colors.
To avoid the pitfalls of micro metrics it is important to pair every metric with its appropriate counter metric: signups with activations, new paid customers with churn, or new paid customers with total revenue. This achieves two things:
1. It recognizes that your product is a system of metrics, highlighting that focus on any metric in isolation is incorrect.
2. By recognizing and forcing focus on the system, it encourages a more holistic approach to growth.
- I disagree that Growth Hacking is BS. Vehemently disagree, in fact. It sounds like a click-baiting headline — they are (re-) defining growth hacking far too narrowly so as to suit their lead.
- The content of the article is very sound, however.
- In a startup, everything and everyone must be focussed on growth. Having an awesome product is the biggest part of that.
- The second most important part is defining the right set of metrics and a healthy skepticism of what you interpret from them.