In the beginning when we start adopting new technology, we may make a heavy mistake and perceive every metric and traction of success as relevant for the growth of our business.
Several authors including Eric Ries and Erick Schonfeld have been unveiling that actually some metrics are vanity metrics because they boost founder’s ego rather than help them build the better software that customers would want.
Of course, there is an antidote for vanity metrics so that we do not fall prey to them. VC Fred Wilson noticed in both portfolio companies and the startups he was working with 30/10/10 rule. This means that 30 percent of downloads or registered users are active once a month, 10 percent are active once a day, and 10 percent of the daily users will be the maximum number of concurrent users.
To better understand and implement actionable metrics, read the elaborate guide of Eric Ries who was interviewed by Tim Ferriss.
Just to tease you up a bit, the tips for getting the more actionable metrics are: split-tests, per-customer metrics, funnel metrics and cohort analysis, keyword SEM/SEO metrics, but you will get more details as you go into this text vanity metrics vs actionable metrics.
In terms of VR, budgeting, creativity as well as the relevance for clients come hand in hand. So once again, actionable metrics count to an enormous extent.