OMTM - Everything You Need to Know!
OMTM is the abbreviation for “one metric that matters,” a concept central to the field of growth hacking. It focuses on a single, central metric that serves as the focal point for daily work. The idea behind OMTM is to choose a single metric expected to show the most significant improvement over the next 2-4 months.
The selection of the right OMTM depends on individual goals and the context of the company. Regardless of the choice, OMTM is a powerful tool to direct focus and efforts on the essential and drive growth strategically.
OMTM in the Growth Hacking Process
OMTM is closely linked to the growth hacking process. The growth hacking cycle typically consists of idea generation, testing, implementation, measurement, and scaling. In this structure, OMTM plays a crucial role as a central measure to evaluate the success and effectiveness of growth hacking strategies.
- Idea Generation: In this phase, growth strategy ideas are developed. OMTM helps in selecting ideas most likely to improve the central metric.
- Testing: The selected ideas are tested, and OMTM is used to track progress, ensuring that tests have a positive impact on the main metric.
- Implementation: After successful tests, strategies are implemented. OMTM remains the focus to ensure the desired effect of the implementation.
- Measurement: OMTM is continuously measured throughout the process to ensure actual improvement in the metric, allowing for tracking progress and making adjustments as needed.
- Scaling: If measures are successful and OMTM improves, these strategies can be scaled to further boost growth.
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Differences as Compared to the North Star Metric
The North Star Metric (NSM) and OMTM are similar concepts but differ in their application:
- OMTM focuses on a single metric for a specific period, usually 2-4 months, to achieve short-term goals and concentrate on a crucial key indicator.
- North Star Metric, on the other hand, is a long-term metric representing sustained growth and value creation for a company. NSM is often more complex, considering a broader range of metrics, and concentrates on fostering long-term customer loyalty and success.
In a way, OMTM could be seen as a specific implementation of the North Star Metric idea for shorter periods and more concrete goals. Both concepts are valuable and can be applied depending on a company’s goals and phases.
