As we gear up for end-of-year reporting, many of us will dig into numbers to showcase our success. Open rates, click rates, subscriber growth can offer valuable insights, but it’s important to avoid what’s commonly known as the tyranny of metrics.
In The Tyranny of Metrics by Jerry Muller, the author highlights the risks of relying too heavily on data without considering context. Muller describes how “body counts”, or the number of enemies killed, were used as a “success” metric during the Vietnam War. While less dramatic (and, lethal), all organizations face issues when numbers are interpreted without context.
Example: A team once reported low engagement metrics for events attended primarily by journalists and researchers. The raw numbers suggested failure, but in reality, the attendees were focused and taking notes during the events. Low engagement metrics didn’t correlate with low impact.
When numbers tell incomplete stories, how can organizations showcase their work?
Four Ways to Share Numbers With Executives
1.) Tell Stories
People remember stories better than numbers. Gather compelling anecdotes that illustrate your team’s contributions.
2.) Explain the Numbers
Offer context by explaining where the numbers come from and what they mean. This helps leadership understand how metrics align with organizational goals.
3.) Provide Benchmarks
Mailchimp and HubSpot offer free benchmark data to show how your metrics compare to industry standards. Use these to create a clearer picture of what success looks like.
4.) Be Honest
If numbers fall short of expectations, address it directly, explain why and outline a plan for improvement. Make sure to brief your boss one-on-one before he or she shares the information with others. Arm them with information.
Combining data with stories helps you create year-end reports that inform decision-making.
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