Setting KPIs can often feel arbitrary, especially when entering new markets. How do you get past this uncertainty to set realistic goals?

The important thing is to start measuring items. Your initial 'goal' may be off, but you won't know that until you start measuring it and having your team work towards a KPI. Be open with them that this is a trial period that nobody's performance will be managed based on if they hit the number out of the gate. And then adjust from there -- if people are overachieving, up the target; if people are consistently struggling to hit, lower the bar. Once you've found the sweet spot, then you can add co ...Read More

Entering a new market without historical data or benchmarks can feel like stepping into the unknown.In this scenario we should start with the most important and fundamental question. Why are we here ? Why is this market important ? Is the priority brand awareness, revenue growth , customer acquisition or loyalty? Once you know the "Why" the " How" becomes clearer and you can define the leading & lagging indicator next.   During the initial phase be transparent and embrace a growth mindset to ...Read More

Setting KPIs can indeed feel arbitrary, especially in new or uncertain markets. However, there are strategies to overcome this uncertainty and set realistic goals: Market Research and Analysis: this shall help set goals for the organization's fiscal year. Benchmarking: Compare yourself to industry standards and competitors to gain perspective on what success looks like in the new market. Analyze the performance of similar companies or products to set realistic benchmarks for your own goals. Star ...Read More

It can feel arbitrary when setting KPIs in new markets, and that’s okay. Whats necessary is to learn fast and iterate. When the market dynamics are unclear, use KPIs as a hypothesis, not a target. Start by borrowing directional benchmarks from similar markets, then identify what early signals might predict success, engagement, adoption, repeat usage, etc. Use cohort analysis to undertand how different profiles act and engage with the product. My would be: Analyse performance in comparable market ...Read More