An Overview of Metrics on Your Strategic Plan
At Mission Met, we think establishing and tracking metrics on your nonprofit’s strategic plan is a fantastic way to strengthen your organization. But we also totally get that metrics can be made to be overly complex and a distraction. So, in this brief article we’ll provide you with an overview of our practical (hopefully!) approach to strategic planning metrics and how they can benefit you and your team.
(Note: Please take a few minutes to watch this accompanying video about metrics. Eric Ryan will walk you through how metrics can be displayed and measured on a strategic plan.)
About Metrics
We think of a metric as a numerical outcome that you and your team are seeking to attain. Some basic examples are:
Tons of CO2 reduced
Number of grants submitted
Donor member retention rate
Further, we have three different categories of metrics on our strategic plans:
Key Metrics
Focus Area Metrics
Goal Metrics
Don’t let three categories of metrics overwhelm you. These are just different types of metrics for you to consider; you absolutely don’t have to create and measure metrics in all three categories.
The information below gives you an overview of these three types of metrics.
Examples
Tons of CO2 reduced
Mortality rate reduction
% increase in literacy
1. Key Metrics
Somewhat timeless measures that indicate a nonprofit’s overall success.
Ideally, you’d have no more than three to five Key Metrics.
Examples
$ raised in a capital campaign
# of board members
Staff member retention rate
2. Focus Area Metrics
Measures used to indicate progress with “focus areas”, typically over about a three-year timeframe.
Ideally you’d have no more than three metrics for each focus area.
Examples
# of grants submitted
# of workshops delivered
# of Twitter followers
3. Goal Metrics
Measures used to indicate progress in completing a goal, typically over a one-year or less timeframe.
Ideally, you’d have no more than one or two metrics per goal.
Measuring Metrics
As Eric wrote about in his recent book on strategic planning, it’s best to establish a monthly cadence of reviewing and measuring your metrics. Monthly measurement may seem a little cumbersome at first but if you only have a handful of metrics to measure then it isn’t too big of a lift.
Since your metrics are numbers, measuring progress over time is straightforward. However, in addition to measuring your numerical results, you can also use a “traffic light system” to provide a summary of your progress:
Red — We are off track on this metric
Yellow — We are making slow progress on this metric
Green — We are on track to meet this metric
Using our software, Causey, tracking and reporting metrics is simple.
A Catalog of Metrics
Several years ago Guidestar created the Common Results Catalog, a long list of the key metrics that organizations within were measuring. Reviewing this list may spur some ideas of your own.
There’s No One Way
Although we have our own approach to metrics, there is absolutely no one way to create and track them. The important point is for you to simply establish some metrics and create a regular cadence of tracking and measuring them. Don’t worry about making it perfect. Over time you can dive deeper and clarify the best way that works for you and your organization.