OMTM
What is OMTM (One Metric That Matters)?
OMTM (One Metric That Matters) is a key performance indicator (KPI) in growth hacking that focuses on the single most important metric for a business or project at a specific point in time. It helps teams prioritize efforts and align resources to achieve maximum impact on growth.
Synonyms: One Metric That Matters, North Star Metric, Key Growth Metric, Primary KPI, Focus Metric
Why OMTM is Important in Growth Hacking
OMTM is crucial in growth hacking because it allows teams to cut through the noise of multiple metrics and focus on what truly drives growth. By identifying and tracking the one metric that matters most, companies can:
- Simplify decision-making processes
- Align team efforts towards a common goal
- Quickly identify what's working and what's not
- Accelerate growth by concentrating resources on high-impact areas
How to Identify Your OMTM
Determining your OMTM requires careful consideration of your business stage, goals, and current challenges. Here's a simple process to help you identify your OMTM:
- Assess your current business stage (e.g., startup, scaling, mature)
- Define your primary business objective
- List all relevant metrics
- Evaluate which metric has the most significant impact on your objective
- Choose the metric that, if improved, would have the greatest positive effect on your business
Remember, your OMTM may change as your business evolves, so it's important to reassess periodically.
Examples of OMTM in Different Scenarios
Different businesses may have different OMTMs depending on their goals and stage:
- For a new mobile app: Daily Active Users (DAU)
- For an e-commerce site: Conversion Rate
- For a SaaS startup: Monthly Recurring Revenue (MRR)
- For a content website: Time on Site or Pages per Visit
Frequently Asked Questions
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Question 1: How often should I change my OMTM? Answer: Your OMTM should change when your business priorities shift or you achieve your current goal. This could be monthly, quarterly, or annually, depending on your growth rate and market conditions.
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Question 2: Can I have more than one OMTM? Answer: While it's called "One Metric That Matters," some businesses may have 2-3 core metrics. However, it's crucial to maintain focus, so limit yourself to as few as possible.
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Question 3: How does OMTM relate to other growth hacking techniques? Answer: OMTM helps prioritize which growth hacking techniques to focus on. It guides your strategy by indicating which areas need the most attention for maximum growth impact.
