You already know how to market a medical device, but do you know how to track your progress? Measuring and tracking the execution of your launch strategy will keep you on course.
How do you define and articulate the shared metrics that your team will be accountable for? There are 3 simple steps to building your measurement dashboard:
1. Establish your strategic imperatives. These are the things you must accomplish. Keep it within a reasonable scope—3-4 imperatives should do the trick.
2. Establish your lead measures. These are the things you can influence to drive revenue before the lag measures (a.k.a. the revenue, market share, and profit) materialize.
3. Establish metrics. Track your progress on your lead measures by accounting for the activities that lead toward those goals.
Following these steps to build your custom medical device market measurement dashboard will help you focus on winning the game.
Don’t have time to build a dashboard? Download this template! Need some help establishing your strategic vision? Then contact us!