(Lack of) Importance of Metrics in a Startup
Within today’s technology fueled and recklessly innovate business landscape, many startups are being advised to drive business through the use of data and metrics. What most companies and decision makers don’t realize is that despite the importance of metrics, they often don’t tell the whole story. In fact, if data points are not properly balanced it can negatively impact your success.
The implementation of metrics is most valuable when well-rounded and thorough, which means that there must be data to account for the business and human factors of the process. In order to avoid the shortcomings of ineffective data, every company should consider the collection of abstract data points including the satisfaction and feedback of both your employees and your customers.
Acknowledging the thoughts and emotions of team members has proven to boost productivity and sales for countless businesses. According to a study done by Dale Carnegie Training, “Companies with engaged employees outperform those without by up to 202%.” Occasionally, employee feedback will inspire new initiatives or important changes to existing business processes. With the right amount of attention paid towards morale, the positive energy of your employees can be focused on customer experience.
A typical business only hears from less than 5% of it’s dissatisfied customers, which means that there is an ocean of extremely useful yet untapped information out for the taking. With the right system in place, businesses can access this information, and incorporate it into their customer support processes. When augmented with hard data points, these insights can present an informed perspective of the satisfaction of your customers.
Never underestimate the human element of your business. Once the proper balance between core metrics and human factors is achieved, processes can be optimized and business goals can be more easily met.
Interested in learning ways to incorporate human factors into your metrics framework? Contact one of our many experienced team members, and let us be your competitive edge in the marketplace. At Touch Support we align diverse people, processes and knowledge to create customized, world-class user experiences for our clients and their customers. We turn IT headaches into opportunities through our relentless drive to do things better. http://touchsupport.com/