This is probably the most challenging question for most product teams. Getting alignment on different initiatives when everybody's viewing things through different lenses, can be difficult. People run in different directions when they have different understandings of how their product grows.
But what is it, and how can it help you? The North Star Metric Framework is a proven method, that helps you define a specific metric that best captures the core value your product delivers to customers. Focusing on and optimizing company-wide efforts to improve your Nort Star Metric is key to driving long-term sustainable growth in your company.
It helps product teams answer critical questions like:
How can we deliver better value to our customers while driving revenue?
How does our day-to-day work connect with tangible impact
How are we sure we're working on the right things?
How can our teams break down the silos and achieve alignment?
This workshop template was created by Just Mad as a resource for anyone interested in implementing the North Star Metric in their team or company. The board has guiding elements that help facilitators get their way around.
A few details about the workshop:
Ideal team size: 4-5 people
Roles to include: product managers, designers, engineers, marketers, product marketing managers, leadership
Duration: 3 hours
Preparation: the facilitator is responsible for preparing a few artefacts before the workshop:
product experience map (aka user journey)
company OKR's (if applicable)
product vision statement
Expected outcome: at the end of the workshop, teams are expected to have achieved alignment when it comes to how their product grows. They will have clarity around what's the core metric connecting their business objectives, customer goals, and day-to-day work. Along with that, teams will have a set of Input Metrics that they should focus on, thus allowing them to make better product decisions and prioritize initiatives.