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Here’s what you need to look for in a North Star Metric: As close as possible to the core value experience ... Aggregate number, not a rate or ratio—We’re looking for a number that will sum up the value across the entire market and potentially grow up-and-to-right over time... Simple and memorable—No North Star Metric is perfect. Some messages sent via WhatsApp may be spam, some items purchased on eBay may not be fully satisfactory to the buyer. That’s fine as long as the number is still generally indicative of total value.
Evidence-Guided
Itamar Gilad
Standardization will look different at every company, depending on your needs, but there are some core areas we all need to standardize, like idea management, roadmapping, product tool kits, and onboarding. And of course, none of this actually replaces the need for skilled product managers. These processes can only help you if the quality of the inputs is good.
Product Operations
Melissa Perri and Denise Tilles
Some teams will define one key metric, sometimes called the Local North Star, which they continuously try to improve on. For example, the customer onboarding team may focus on the % of Customers that Successfully Onboard, while the Search team may focus on Click-Through Rates of Top Ten Search Results. In fact in some quarters this may be the only key result they’ll need. However, the goal is never just to grow a number. The teams should also set objectives, or team missions, for example “All customers onboard fast and successfully” or “Searchers immediately find what they’re after.”
Evidence-Guided
Itamar Gilad
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