A KPI is a numeric measure of performance for any activity that’s important to your business. Sometimes known as a ‘performance measure,’ the term KPI is often used interchangeably with ‘metric.’ The only real difference between the two is the word ‘key.’ KPIs are important metrics that you really care about, but a metric is any number that you track.
Aside from an office dog, KPIs might just be the best thing you introduce to your company. After all, they give you the power to measure performance and ultimately improve. But, like an office dog, KPIs should be chosen carefully. Otherwise they can distract teams, damage morale, and generally cause chaos. To help you avoid the pitfalls and get the most from KPIs, here are some tips for setting them.
Motivation is obviously essential for your team’s performance and happiness. And if your company needs any kind of creativity to survive then a certain type of motivation is more effective (spoiler: it’s the intrinsic one). For this reason, most forward-thinking companies are moving away from traditional, extrinsic forms of motivation. But does this mean that "carrot and stick" is officially dead? Not quite.
It’s easy to think that the reasons for churn are out of your control: maybe the customer got a better offer from a competitor or maybe your product just wasn’t the right fit. Surprisingly, this is far from the truth. Your customers are almost five times more likely to stop buying from you because they feel you’re indifferent to them, than because they are unhappy with your product.
You’ve given them countless product demos. Made executive trips to their headquarters. Answered their questions on Saturday mornings. Invited their European team out to dinner. Your team put in the work and finally won the deal. Congratulations! Now, is it really on to the next one? For sales yes, but for your entire company it definitely shouldn’t be. More companies are spending additional time and resources on improving the B2B post-sale experience of their customers. Why?
With the launch of iPhone 11 - Apple users can now enable spatial sound. To give you a bit of background, spatial sound creates a virtual surround sound feeling for conference calls. In essence, spatial sound creates the sense that you and other people on the call are located in the same room. Through your headphones, voices will feel like they are coming from different angles - creating the sounding illusion that colleagues are sitting around you.
You may have noticed a lot of recent changes with the mobile apps. Rocket.Chat has been maintaining two native versions of the mobile app, one for Android and one for iOS. This has proved to be quite problematic and we had to split our resources which is inefficient. We therefore made the decision to build a new app based on a common framework. After months of deliberation, testing, and lots of community help, we have finally decided to move to the proven React Native framework.
Exciting news for Riot users today as New Vector (the company set up by the team behind Matrix & Riot to keep development going) has raised an additional $8.5M of funding in order to make Riot even better!
Today, users are very savvy. With a tap of a button, people can rent, buy, lease, sell, talk, chat and basically can do everything one needs in day to day aspect of life. From a business perspective, companies are finding new ways to engage users to do business. The new startups have advantage in that they start fresh, but we have also seen companies pushing digital transformation to either adopt or perish to be meaningful in today’s demanding environment.
