How do I create a Metric?

Creating metrics is a foundational step in tracking execution and accountability across your team. In Metronome, a well-set-up metric helps everyone know what success looks like, who owns it, and how it’s progressing over time.

When do I set my Metric targets?

Metric targets should be established during your quarterly planning sessions with your team. Targets should always be finalized before the quarter begins so everyone knows what success looks like and what was originally agreed upon.

What makes a good Metric?

A good metric is a numerical goal that tracks progress toward a specific target. It should have a clear quarterly numerical target and can be updated regularly with data. Metrics are objective and measurable, providing real-time insights into performance.

For instance, a good metric could be "Total Revenue, New Subscriptions, or Operating Cost". Metrics are essential for quantifying success and identifying whether a team or individual is on track to meet their goals.

Step-by-Step: Creating a New Metric

Go to the Metrics Page

1. First, select Metrics on the left hand side.
2. Click Add Metric in the top right corner.

Fill in the Metric Details

In the Add Metric window, complete the following fields:

1. Metric Title
   1. Enter a clear and descriptive name for your metric.
      1. Example: Number of New Followers
2. Owner
   1. Select the person who is responsible for tracking and updating this metric.
3. Company vs Individual
   1. Choose whether this is a Company or Individual Metric:
      1. Company Metrics: appear on the One Page Plan and Daily Dashboard and are market with a yellow star. Select this if this metric is one of the key measures of success for the overall business.
      2. Individual Metrics: used to track personal execution and do not roll up to the company level. Select this if this metric is ont of the key measures of success for individual functions, or individuals within the business.
4. Metric Frequency
   1. The frequency determines how often the metric is updated and will impact what data is displayed in meetings.
      1. Choose from Daily, Weekly, Monthly, or Quarterly.
      2. Set the frequency based on how often it makes sense to update the metric and which meeting cadence it's being reviewed in.
         1. Example: A Weekly Meeting should include metrics with Weekly frequency, ensuring updates are aligned with the team's review rhythm.
5. Choose the Measurement Type
   1. This selection impacts how actuals are tracked and interpreted. For a full description on each Measurement Type, please see our article: What are the 3 Types of Metrics I can Setup?
      1. ⚠️ Choose carefully: this determines how the system tracks progress and calculates totals or averages.
6. Set a Target
   1. Input a target for the quarter. Once this is input, the system will automatically calculate the default status percentages.
   2. These are the target boundaries which make up the Super Green, Yellow, and Red targets.
      1. Typically, these can be left as is, but you can also change what constitutes Super Green, Green, or Yellow by manually inputting these targets. Red will automatically update based on whatever you input for Yellow.
7. Link the Metric to a Scorecard
   1. The last step is to verify which Scorecard this metric belongs to. Although you've chosen an owner of the metric, this owner may have multiple Scorecards that they own.
      1. Linking a metric to a Scorecard ensures clarity on who owns it and where it fits within your broader strategic plan.
8. Click Add
   1. Finally, once all fields are filled out, click Add in the bottom-right cornder to save your new metric.

By following this process, you'll ensure that each metric is accurately set up for tracking progress and contributing to executional clarity within your team.

If you need to set up a Parent Metric that has Child Metrics which will roll up into it, make sure to check out our article: How do I add Cascading Metrics?