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Arcane

Hey, I'm on Medialย โ€ขย 9m

A North Star metric is a KPI that helps you understand if your business is meeting the expectations of your customers and team. For something to be a North Star metric, it should: ๐Ÿ”นbe One single metric ๐Ÿ”นcontribute to generating income for your business. ๐Ÿ”นrepresent what your customers find valuable in your product or service. ๐Ÿ”นhelp you track how well your business is doing over time and provide actionable insight How important is it? Let's understand: Myspace was a social networking platform that gained immense popularity in the early 2000s before Facebook entered the game. Facebook's NSM was Monthly active users, while Myspace used registered users as the NSM. The problem with Myspace's metric? It focused on attracting new users who may not use the platform regularly, while Facebook's metric focused on keeping existing users engaged. This was one big reason which contributed to Facebook's success and the failure of Myspace.

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