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Contrary to many tech companies, Kalshi is "not super metrics-y." Their strategic decisions are driven more by feel: listening to what customers are saying, identifying "pockets of demand," and sensing where the "energy is," rather than optimizing for specific KPIs.
Founder Jesse Cole largely ignores financial meetings, focusing instead on metrics that directly impact fan experience. He obsessively tracks merchandise line wait times, game speed, and trick plays, believing that optimizing these customer-facing KPIs is the true driver of long-term financial success.
Go beyond obvious metrics. Measure rep confidence—their belief and authenticity on calls—as a leading indicator of success. Also, measure velocity as the reduction of friction across the entire customer journey, from lead to successful onboarding, not just a simplistic 'time-to-close' metric. These qualitative measures are key.
Metrics like product utilization, ROI, or customer happiness (NPS) are often correlated with retention but don't cause it. Focusing on these proxies wastes energy. Instead, identify the one specific event (e.g., a team sending 2,000 Slack messages) that causally leads to non-churn.
Data and metrics are essential but incomplete; they lack insight into user motivation. To truly understand the 'why' behind user behavior, PMs must engage in qualitative research to uncover users' feelings, thoughts, and wants, which dashboards cannot capture.
Metrics like high Net Promoter Scores fail to capture genuine human connection in digital interactions. Instead of chasing vanity KPIs, pharma should seek the "digital equivalent of a smile"—behavioral signals that indicate a truly positive and human customer experience.
Focus on what customers value (e.g., delivery speed, order accuracy) rather than internal business metrics like ARR or user growth. This approach naturally leads to a better product roadmap and a more defensible business by solving real user problems.
Product teams focus on technical metrics like scalability, but customer-facing teams see success differently: it's when a client says they "couldn't run their business" without the product. The goal is to merge these two definitions by translating technical achievements into tangible customer outcomes.
Instead of focusing on traditional sales metrics, one company found its most powerful leading indicator for organic growth was the volume and quality of conversations between its own engineers and its customers' engineers. This metric became the central focus for driving the business forward.
When VCs pushed for a data-driven focus on high-turnover products, Ed Stack prioritized the anecdotal experience of a customer awed by a vast selection. He knew that what looks inefficient on a spreadsheet can be the very thing that builds brand loyalty. The qualitative story was more predictive of long-term success than the quantitative data.
The common tech mantra to 'follow the data' is shallow. Data is a powerful support system, but it primarily describes the past and can be misinterpreted. Truly great decisions, especially for zero-to-one innovation, require a deeper, more critical interpretation that incorporates qualitative insights to understand the 'why'.