How to Launch Business Functions and Define Metrics
and then turn them into a product!
How to launch business functions
It’s elementary to say but incredibly difficult to do. These two aspects of culture depend on each other, and trust is necessary to build a tolerance for mistakes and vice versa.
I am a head of growth at Lebazar. It is my first time in this role. I used to work in B2B sales for ten years. Yes, I had experience creating a dating app and customer interviews with over 2k users, but the business didn’t come out. I still think that no person brought that record for client interviews.
Key concepts: trust and tolerance to loss
Errors don’t characterise the system; the reaction to the misconception represents it. It’s okay to make a mistake once, but it’s awful not to draw conclusions and step on the same rake a second time. This time could be spent on more productive actions.
How to define metrics
You can only do with the intermediate institutions that Nobel laureate Douglas North wrote about here.
The target metric is always apparent; it’s taken from benchmarks and ChatGPT.
Defining intermediate metrics is more complex because you must balance achievability and challenge.
Our case study on AHT metrics
The best AHT time is 3–5 sec. We had more than a minute before. First, we set one minute. The guys quickly got to that goal, got excited, and even exceeded it. Then we ran for 30 seconds. Now we’re cutting it down even more.
Turn metrics into a product
Monetisation
Here we have an e-grocery platform, and we have category pictures there. This means that you can also make money on this thing. These are only images, but they can add a few percent to the margin.
Product
The product images and the category sections’ arrangement can be seen as a product story. It’s just a picture, but it affects whether or not you’ll make a purchase. And also, when the pictures suck, customers will only look for products through search, and with pretty pictures, they’ll spend more time in the app, like in ig.