Lean AI

Chapter 15. Planning for Success

If you fail to plan, you are planning to fail!

Benjamin Franklin

I hope you’re excited about fully embracing an AI “intelligent machine” to help your growth team thrive by turbocharging their customer acquisition growth. To fully leverage this emerging “superpower,” it’s important to have the right support system in place to ensure you’re set up for success.

This chapter offers crucial considerations to bear in mind as you plan to implement an AI intelligent machine in your growth team.

Success Goals and Measurements

All businesses use KPIs to evaluate their success at reaching targets. This means you’ll need to feed your AI intelligent machine clearly defined KPI goals and make sure you and your machine have the ability to track KPIs in a real-time reporting tool or dashboard.

Most startups have different KPIs against which to measure growth. You should determine which ones are right for your business and industry. Once you have identified these goals, then it’s easier to objectively measure and evaluate the performance of your AI intelligent machine.

Luckily, there are five key KPI metrics recommended for growth teams to consider as goals for their AI intelligent machine to optimize toward:¹

• Customer acquisition cost

• Retention rate

• Customer lifetime value

• Return on advertising spending

• Conversion rate

The key is not to choose all of these goals, but focus on a few that clearly correlate with the long-term success of your business. ...