How to answer this Technical interview question about KPI Tracking for Entry-Level Business Development Intern?

How would you measure the success of a business development strategy?

Business Development Intern

Technical

Asked at

McKinsey & Company

Difficulty :

Medium

Explanation

This question evaluates your ability to set and measure KPIs for business growth. Recruiters want to see if you understand metrics like lead conversion rates, customer acquisition cost (CAC), and revenue growth. A well-structured answer would include examples of specific metrics and how you’d track them using tools like Excel or Google Analytics. Avoid generic answers that don’t mention measurable outcomes.

Answer Example

To measure the success of a business development strategy, I would focus on key performance indicators (KPIs) such as lead conversion rate, customer acquisition cost (CAC), and lifetime value (LTV). I would use tools like Google Analytics to track website traffic and conversion rates, and Excel to calculate CAC and LTV. For instance, in a class project, I tracked these metrics to evaluate a mock strategy, which revealed a 25% improvement in conversion rates after implementing targeted outreach efforts.

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