Chapter 13
Measuring the Market and Your Place in It
In This Chapter
Understanding your position relative to your competitors
Calculating how well you are doing at finding new customers
Appreciating the value of your brand
Market KPIs are crucial to your business. Financial KPIs are important because they allow you to measure your financial performance. Customer KPIs are important because they allow you to gauge the strength of your customer relationships and whether you are growing your customer base or whether it’s remaining stagnant or contracting.
But your performance is also always relative to your market. The KPIs I detail in this chapter help you to measure your market, so you can appreciate where you really stand relative to that market and your competition.
Painting a Picture of Your Market (Market Growth Rate)
You need to be able to paint a picture of the market you operate in and understand that market, so you can accurately predict and manage the future. A KPI that can help you do that is the market growth rate. This metric lets you see whether your market is expanding or contracting, which is obviously critical for assessing future revenue growth potential.
Your business ...
Get Key Performance Indicators For Dummies now with the O’Reilly learning platform.
O’Reilly members experience books, live events, courses curated by job role, and more from O’Reilly and nearly 200 top publishers.
