With any business, monitoring the performance of your products and services is a key part to sustained success.
Tobi Pearce, CEO and co-founder of fitness platform Sweat, says that they look at a number of factors to determine how successful a specific program is.
“How do you define doing well? Is it that customers love it? Or that you generate revenue from it? Or that we generate a lot of revenue from it? What’s the grading stick?” Tobi asked.
“From any commercially minded point of view if you’re losing money it’s not a good decision, but for us we would typically say impact and value are how we would describe it.”
Joining The Mentor with Mark Bouris podcast, Tobi spoke to the Sweat ethos, which is to make sure that they’re adding the value to their customers.
“Firstly - are we having impact and adding value, and secondly are we generating a commercial return, because we can’t provide a great service if we aren’t generating a commercial return,” he said.