As a leader, one always seems to have a million priorities to tend to.

You have to think about growing and scaling. But don’t forget about tailoring experiences. Oh, but no increasing costs. And remember to build a lasting brand. But don’t focus too much on the future, think about today.

Balancing your goals and efforts to build a company that is effective in the short term, successful in the medium term, and sustainable in the long term can seem impossible.

In her interview with Ben Kaplan for TOP CMO, TD Bank’s CMO, Betsey Chung, shares the five metrics that help her prioritize correctly and achieve balance.

Net customer growth. Marketing-driven sales. Brand consideration. Customer experience. Employee experience.

Read all about why each one is so important below!

1. Net customer growth

Perspective: SHORT-TERM

Customer growth stands as a foundational element for any company's success.

Emphasizing it reflects a strategic commitment to expanding the customer base while balancing customer retention efforts.

Businesses must proactively adapt to changing customer needs, making growth a pivotal indicator to gauge resilience and responsiveness.

Metrics focused on financial performance contribute to short-term objectives, as their goal is keeping the company afloat and making it profitable.

While projection and planning are important, it is essential not to risk immediate action.

2. Marketing-driven sales

Perspective: SHORT-TERM

The integration of marketing and sales is a must when aiming to increase the company’s value. 

If your business wishes to capitalize on digital and targeted sales, aligning marketing efforts with tangible business outcomes becomes crucial.

This metric pushes for collaboration between different areas and sets precedents for further cooperation, which will impact longer-term strategies.

When working as a leader, ensuring financial relevance is necessary, but so is correctly utilizing the talent at your service.

Doubling efforts on marketing-driven sales will result in higher profit, sure, but it also positions the marketing function as a crucial driver in shaping the overall direction and success of the business.

Brand consideration

Perspective: LONG-TERM

Brand consideration is a cornerstone of effective marketing strategies.

Viewing the brand as a long-term asset reinforces the belief that consistent positive interactions build brand equity over time.

In order to survive in highly competitive markets, finding key differentiators and establishing lasting relationships with a loyal customer base that can relate to your values as a brand are your strongest weapons.

Create a unique identity that resonates with customers through small, everyday gestures that add value.

The point is to show you are driven by a true purpose: making your clients’ lives easier.

Cultivating a brand that stands out amidst competitors involves a commitment to long-term brand building.

Customer experience

Perspective: MEDIUM- to LONG-TERM

Elevating the customer experience is a universal objective.

Improving customer interactions in multiple ways plays a pivotal role in shaping brand loyalty.

Beyond immediate conversions that keep you profitable, providing unique experiences leads people to trust you and forge a bond that goes past simple momentary needs.

Businesses that recognize the enduring impact of these moments create a positive brand reputation and foster a sense of belonging that connects with customers’ emotionalities.

In moments of prosperity when the product may speak for itself, the influence of this metric may seem weak.

However, in times of uncertainty –macroeconomic or specific to your company– the community you built will serve as a safety net. Take care of it.

Employee experience

Perspective: MEDIUM- to LONG-TERM

Prioritizing employee experience holds immense importance.

A positive employee experience directly influences customer satisfaction, making it an indispensable metric.

This connection also includes the irritants that may obstruct the experience.

So recognize your teams’ efforts. Compensate them when appropriate. Listen to their feedback. Work on improving the areas of conflict. Make your company a positive environment to work in.

Attract, retain, and grow talent that mirrors the diversity of the communities they serve to align employee experience with their values and aspirations.

In the long run, having a satisfied workforce can forge a stronger team that endures trying times, and whose demeanor towards clients helps build a positive brand image and a loyal audience.

Finding balance

As you probably have figured out by now, none of these metrics are fully independent from the others.

They all contribute toward the same goal of your company’s prosperity, and all of them have short-, medium-, and long-term consequences.

But the point is that a balanced scorecard methodology ensures that financial metrics coexist harmoniously with softer, brand-related metrics.

This equilibrium proves crucial in steering companies through economic uncertainties, providing a holistic approach that addresses immediate challenges without compromising long-term brand equity.

Adaptability and balance are key traits when you aspire to thrive in dynamic and ever-changing markets.

Not every business will find the answers in Betsey Chung’s five golden indicators. But use them as a starting point.

Before you know it, you will have your own metrics for success. 

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