This content was created by GHION.AI . This content was uploaded by GHION.AI . This is a YouTube video titled "Jessica Mah: Avoid Vanity Metrics" created on December 6, 2011. It features a conversation with Jessica Mah discussing the pitfalls of vanity metrics in business, emphasizing the importance of tracking real, impactful numbers for business success.
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We had set goals for ourselves, for how many users we'd have, for how much revenue we'd be making. And the numbers seem impressive, but a lot of them are just vanity metrics. They sound really good to TechCrunch and to Inc. Magazine, but they don't translate into business success.
What's an example of a vanity metric?
So, for example, in an arrow could say it's tracking tens of millions of transactions and billions of dollars of business assets, which is all true, but how many of these users are active and paying money? And how much money are they paying? And how loyal are they? And are we solving real problems for them? And that's where we really had to.
And you were tracking those real numbers as well?
I tracked the real numbers, too, and they were not as great as I wanted them to be.
And so was that something you knew how to fix, or was it just kind of like you were stuck for a while?
Well, I think we were so unhappy during that time period because we kind of assumed that we'd be successful. Like, we had raised expectations so high for ourselves that when. When reality came to us, we had no choice but to feel bad about it.
