Guest post by Ron Stefanski.
Every business needs reliable metrics to monitor and evaluate performance, progress, and success. Leading and lagging indicators are measurable values that let you know how well you’re doing in your efforts to accomplish your business objectives.
Image credit: Nathan Dumlao on Unsplash
Marketing performance indicators keep you focused on what‘s really important by keeping your attention on exactly what you must do to reach your business goals faster.
This post outlines the differences between leading and lagging indicators, as well as providing some examples of each so you get a clearer idea of how to measure current performance and produce desired results in the future.
What’s the Difference Between Leading and Lagging Indicators?
Leading Indicators are the day-to-day business activities that lead to the results of lagging indicators—that is, the goal you’re trying to achieve in your business. These “lead activities” or “input” are what drive business performance and success, and make future results more predictable.