It can be useful to help you understand how your space is used and guide future restructures or reorganizations. A SMART goal must be realistic. These four KPIs aren't meant to serve as a complete performance measurement arsenal, but if your creative team doesn't currently measure anything, then it's a good place to start. Determine the goals for your team, decide how to measure current performance against those goals, and then. You can email the site owner to let them know you were blocked. The ROI for tracking safety is well worth it. Innumerable variables are in play when analyzing retail sales, and while it is proven that imagery impacts sales, we caution against using it as an actionable metric. In order to achieve your goal it must have realism to it. Were more than happy to help. KPIs are beneficial when determining a particular company's operational, financial and strategic achievements. If youre, Tips for choosing the right KPIs for your business, While its important to be aware of the many KPI examples, its even more important to assess which KPIs will help your business succeed. We can use some objective facts about an image to help measure quality. Are we able to influence/drive change using this KPI, or is it out of our control? What aspects of quality are important for the graphical design? Heres how you differentiate between the two: When you dont know what activity will drive better results, youll need to select an outcome KPI, known as a lagging indicator. I like this service www.HelpWriting.net from Academic Writers. Customer Lifetime Value: Customer relationships are important, but its necessary to know how much value each client brings to your business. You're probably familiar with the technical information that your camera automatically captures and records when you take a picture. Want to learn more about the simple, Magnetic Methodology that teaches you how to attract and book 5k, 8k, and 10k clients begging to book your services? 13 KPIs to Consider for your Photo Business, How to Find the Right KPIs for your Photo Business, How to Determine KPIs for Your Photo Business, Working with Photo Business KPIs at a Glance, The Importance of Mobile-First User Experience and Mobile Apps. We have several other great resources to consider as you build your organizations Key Performance Indicators! Similar to lead time per project, estimated vs. actual project time takes efficiency tracking one step further by comparing what the team said they would do to what they actually did. One of the most important indicators of your websites performance is tracking traffic by channel. Last but not least, if you want to learn more about how to create a simple KPI tracking system using ClearPoint, feel free to reach out to us! You can slice and dice throughput in several ways, even down to the individual, set, or task level, but at the highest level, were just looking at how many images your studio produced in a given period. How Canned Responses Can Shave Hours Off Admin Time, this is brilliant! You cannot reject an image without a reason, otherwise, you risk the image being shot the same way again. If your studio shoots apparel on-figure, then you know there are unique tools and resources your team needs to produce the best possible imagery. A SMART goal is one that incorporates all of these criteria to help focus your efforts and increase your chances of achieving that goal. Fortunately for the tree, it will never be able to hear the question. Not sure which metrics will improve performance? Its not unusual for companies to stray off course as a result of using the wrong measures. Samples can get misplaced and mislabelled. Good plans use 5-7 KPIs to manage and track the progress of their plan. The name is limited to 256 characters. Also emphasize that KPIs will not be used as enforcement tools to control peoples behavior. Only once theyre optimized, move on to a different set of KPIs. Heres a tip. Good plans use 5-7 KPIs to manage and track the progress of their plan. Since there are dozens of different KPIs out there, it can be tough to know which ones to focus on if youre just getting started. Make sure youve researched as many key performance indicators as you can to determine which ones are appropriate for your industry. When it comes to creative production for eCommerce photographers, what are the KPIs we should use? For example, you might, These are some of the most common KPIs broken down into industry or department. An added benefit: The responsible party is also usually more inclined to want the measure to succeed, rather than accept underperformance. While its important to be aware of the many KPI examples, its even more important to assess which KPIs will help your business succeed. If your goal is to boost sales, look at things like site traffic and conversion rates. The easily understandable performance indicators can be used for continuous monitoring of target achievement. Cycle time and SLA are related but not quite the same thing. Free Cash Flow: This metric measures how much you can generate compared to your companys operation costs. A key performance indicator is a metric that measures the performance of a business, team, individual, or project. A key performance indicator is a metric that measures the performance of a business, team, individual, or project. To arrive at this KPI, divide the total number of new clients you have by your acquisition expenditures. Focus on a handful of on-page site elements If youre starting a business, understanding the types of KPIs available to you is crucial for assessing future success. Collect and analyze extensive data on these KPIs through measurements and reporting. The anatomy of a structured KPI includes: Now that weve reviewed the basic anatomy of a KPI, here are 27 examples of common KPI sources we see organizations use to measure the performance of their plans: With the foundational knowledge of the KPI anatomy and a few example starting points, its important you build out these metrics to be detailed and have specific data sources so you can truly evaluate if youre achieving your goals. Throughput KPIs In a Given Timeframe What throughput can lack is proper context, so it needs to be reviewed in the right situation by someone who knows how to qualify the data. But why do we need to keep track of these visits by channel? Chapter 2: Choosing & Tracking KPIs: A Step-by-step Guide Step 1: Choose one or two measures that directly contribute to each of your objectives. Did they find answers elsewhere? You can read the details below. Can I measure progress towards this KPI? Did you read our free KPI-guide written specifically for large eCommerce studios? Ive definitely set up some pretty lofty goals, and then completely fell on my face because they werent realistic! In most cases, you cannot sell a product online without an image to represent it. In order to calculate your free cash flow, you need to subtract your capital expenditures from your operating cash flow. Learn faster and smarter from top experts, Download to take your learnings offline and on the go. Net Profit Margin is more helpful for internal comparison of your profits. Even though youve technically met your goal, the result shows you went after the wrong KPI. But the sooner you uncover your mistakes, the betterand you can always get back on track by revisiting your KPIs. Chapter 3: 30 Key Performance Indicator Examples & Definitions. It is a photographer's and studio leadership's responsibility to put policies in place to keep people safe. If theyre leaving your site after only a few seconds, its likely that something is wrong with your website performance, usability, relevance, or content. Put together some educational sessions to explain the concept and why KPIs are going to be important for your organization moving forward. Where productivity is a metric against a goal that can take into account a lot of other metrics, throughput is simple. Could you please clarify how to set KPIs for the Strategic Planning team? In addition, they need to have a distinct goal as well as a clear source of data that can be relied upon for important decisions. But simply tabulating the number of times that a web surfer clicks the Play button of the video player won't necessarily give you a clear picture of the video's success. If you have a similar business model, products, or services, it can be really helpful to know how youre performing comparatively. Hello everyone! Sales Cost to Volume Ratio: Making a sale is almost never free. One of your goals is to conserve foodso you choose a KPI related to serving smaller portions. You can take a look at your profits month over month, or examine how your business has grown over a set period of time. This data needs to be looked at often so that you can continuously track your KPIs to see how close you are to your goals. This helps you see which clients are bringing in the most revenue and which are underperforming. You can make one dashboard for departments working on KPIs, and another that gives a high-level overview to executive teams. Step 2: Make sure your measures meet the criteria for a good KPI. We often think of aesthetics when we think of quality for a creative studio, and that can certainly be part of it, but thats a very subjective metric that can be difficult to measure. The click-through rate, or CTR, is calculated by dividing the number of times your ad is shown by the number of times it is clicked: clicks impressions = CTR. A KPI for your studio may simply be the percentage of products that are sellable with imagery or may be an indicator of how quickly your sample management and studio teams can identify stock without images and bring them in to correct the situation. Client satisfaction ratings can be measured with a short post-project survey. Register your wedding photography business. If you are a large retailer that operates multiple studios, big shifts in retail sales might tell you something about your teams processes and/or leadership. A key performance indicator, a.k.a. Lead-to-Opportunity %. High-level KPIs measure the overall performance of a company, while low-level KPIs focus on measuring the impact of tasks and projects led by individuals teams like marketing, sales, customer service, or IT. Incentivize hitting your KPIs. Quality isnt just how does this image look but it can also be things like adherence to technical specs, adherence to a style guide, or we can use re-shoot rates to indicate quality. That said, lets take a look at some factors you should measure! To ensure the whole team is on the same pageand because many measures and goals are interconnectedits crucial to report these findings to all relevant parties. The total U.S. industry market size for Photography: Industry statistics cover all companies in the United States, both public and private, ranging in size from small businesses to market leaders. Where Where is this goal going to be achieved? Even if all the persons responsible for is reporting on their KPI, you can bet theyd rather report good news than bad newswhich motivates them even more. Require safety incidents to be reported, and safety protocols to be followed. Are you going to be able to commit to achieving that goal? It appears that you have an ad-blocker running. 06. A better thing to measure may be about how optimal is your fresh food ordering process so you have to throw less away (with the KPI being amount of food waste). This KPI helps you measure how long it takes for a sale to be completed from start to finish. Activate your 30 day free trialto continue reading. 19. Keep in mind that they should always be in line with your overall business goals. The bottom line is that there are numerous KPIs that you can track to measure the performance of your business. Youll learn about different reporting applications and determine which method will help your organization save time and get organized. Please include what you were doing when this page came up and the Cloudflare Ray ID found at the bottom of this page. A Measure The best KPIs have more expressive measures. We've found that the clearest way to explain the concept is to break it down into three levels: Simply put, KPIs drive organizational performance. Regular monitoring makes it easy to see the time frame in which something may have underperformed or overperformed, as well as what may have happened within this period to cause the change. In its simplest form, a KPI is a type of performance measurement that helps you understand how your organization or department is performing. Between strobe packs capable of intense electric shock, garment steamers operating at over 200F, and the risk of falling rigging or set, there are a lot of ways photographers or anyone in the studio can get hurt. Chapter 2: Choosing & Tracking KPIs: A Step-by-step Guide. 04. Four steps to streamline strategic planning Take the Assessment. 2) Sales Target. Please check your entries and try again. First response time (FRT) is how long it takes a customer service representative to respond to a support ticket once a customer submits it. Quantifying your current performance using key performance indicators (KPIs) gives you a framework against which to evaluate your progress. If a tree falls in a forest and no one hears it, did it really fall? KPI stands for " Key Performance Indicator " and it is a measurable value that exhibits how effectively an organization achieves its strategic objectives. Here, together with my colleagues, I manage our new and existing customers. A better measure might be a reduction in errors as a result of the training, for instance. If you dont correct that impression, youll unwittingly encourage other behaviors that will invariably work against you. KPIs can be quantitative or qualitative in nature. For example, if you know that sales have slowed because youre unable to take orders more quickly, you may be able to drive people to order in advance or hire additional staff to take orders during your busiest times. This is simply a list of some common KPIs and why they might align with a photographer's studio or organizational goals. The trouble is, there are thousands of KPIs to choose from. Your CTR would be 5% if you got five clicks and 100 impressions. Lead Conversion %. Buy the right wedding photography equipment. And without high-quality imagery, brand identity dilutes into an online sea of generic content. Increase collaboration and content velocity. Hide the Artist. You'll find really quickly that taking a little time to measure your creative team's performance will earn your team respect and trust from upper management and the company as a whole. Remember, these are going to be the 5-7 core metrics youll be living by for the next 12 months. Travel photographer kpi xemasjom 1.4k views Computer graphic designer performance appraisal garymobile15 31.9k views Supermarket supervisor performance appraisal andersonben710 2.9k views Administrative officer performance appraisal oscarjenkins342 4k views Marketing manager performance appraisal koralreef6 20.4k views It features a drag-and-drop interface, allowing users to design their own visual dashboards across a range of metrics. However, even though the need for corporate creative work is a given, who does the creative work is subject to change. Key Performance Indicators (KPIs) are the elements of your plan that express what you want to achieve by when. Reporting on the specifics of these will not only help you meet your goals, but hopefully, help photographers lower costs on future shoots. Focus on a few KPIs rather than a multitude with a resulting plethora of data. But some of your measures will be lagging indicators (i.e. Productivity is more than just throughput. Build your wedding photography portfolio. Theres a huge difference between selecting the right key performance indicators (KPIs) and creating a culture of monitoring, reporting, and improvement. waiting your recommendation. Cost Per Lead: Once your traffic is converting into leads, youll probably want to know what each lead is costing. What is my indicator of progress? Net Profit Margin: This KPI looks at the total percentage of your revenue after you deduct all your expenses, like operating costs, taxes and interest. For external studios providing services to clients, this is often what your clients or stakeholders want to know: How long until I get my images? Choose KPIs that help you move your business forward over ones that only look good on paper. Sometime Strategy doesnt cover all the activities through the company, like maintenance for example may be quality control . Hire faster with 1,000+ templates like job descriptions, interview questions and more. At the end of the day a KPI is simply information, and the highest-performing, most engaged professional teams embrace information. Tracking the pipeline health, lead generation, general activity and productivity, they are essential to driving sales forward. This will help you to make sense of these KPIs already and yet not be overwhelmed by data and lose focus. A Key Performance Indicator, or KPI, is an important metric that can be used to measure the performance of an activity of a company or business. Maybe one quarter you want to pay closer attention to generating more leads, in which case youd use more marketing KPIs, and then the following quarter you want to turn those leads into sales. Standards Compliance, % In any case, the characteristics that KPIs must have are: measurability, effectiveness, relevance, utility and feasibility, How to write methodology guidelines for strategy implementation / a companys review and tracking (process and workflow) for all a companys divisions, support on strategizing Learning & Development for Automobile dealership. It might be time for a deep clean. What is a KPI? Customer Acquisition Cost: If you want to measure the effectiveness of your marketing, you need to look at how many clients its bringing you and whether it fits into the cost of your campaign. Conversion Rate: A conversion rate takes things a step further than the cost per lead. But we also have to be realists and look at our time management, as well how much we can do in order to achieve our goals, and of some things that might need to change. 21. 13. Review our Privacy Policy to learn more.Got it! By continuing, you agree to our use of cookies to optimize and personalize your experience on our site. 01. Abandon rates will help you understand your clients better and also optimize your customer support resources. We've encountered a problem, please try again. If a creative team helps to increase the bottom line and can't prove it, did it really help the business at all? Europe & Rest of World: +44 203 826 8149 You might want to use a few of them for each one of your teams, or just select a few important KPIs for your entire business. Every KPI should help measure a clearly-defined goal youre trying to achieve. Mandy is a top-ranked international photographer serving luxury destination weddings & portrait clients around the world. Click to reveal We create focus and alignment in 60 days. Make sure to adjust them to the realities of your business before you start using them. (For more details about the cultural elements you need to put in place, read this article.). Stay away from vanity metrics. A KPI, or key performance indicator, is a quantifiable measurement that is used to gauge if a company is effectively reaching its goals and objectives. Market Size & Industry Statistics. A sample aging report might be less of a long-term KPI and more of a call to action. For example, did they find your website after a Google search or through a link they clicked on another site or platform? Some KPIs help your business look good, but dont really mean much in terms of reaching your goals. How can you create a culture of KPI monitoring and improving? Could you please clarify, how to set the KPIs for the Strategic PLanning team? In comparison people who wrote down their goals, created an action plan and shared it with friends, showed a 76% rate of goal achievement. I am a project manager at ip.labs. Many KPIs exist for different business units and activities. Youve likely heard it said that what gets measured gets managedweve found this to be true. Through my law studies, I have learned to look at issues from all perspectives. ip.labs is the leading photo service software provider offering a full service white label solution for Photo Service and Web-to-Print businesses. Many C-suites, and even internal clients, fail to see how doing creative work in house is actually beneficial to the company. 2023 The Milky Way | TERMS & CONDITIONS| PRIVACY POLICY | SITE BY FO. Start a free Workable trial and post your ad on the most popular Once you figure out what has the biggest impact, then you could look at measuring sales during promotions or sales of new menu items. Please check your email for the guide! When I'm not photographing my amazing clients, I'm busy as an overly obsessive dog mom, capturing lifes beautiful moments with my husband, Chris, and reveling in Teddy antics. Here are 12 IT KPI examples to reflect the activities of IT departments: 1. Step 4. When is "good enough" enough (as it relates to your prices)? Well, the answer to that question differs depending on your goals and the organization's goals. What is a KPI? Internal clients need to see you as a strategic partner and as a better option than outsourcing. For example, you might create a website and then measure the success of clicks or conversions using KPIs. 10. Strategic planning services and OKR consulting to help you build a plan for sustainable growth. Smart goals for photographers are actually S.M.A.R.T goals for photographers! 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Make sure your team is always reporting the reasoning behind the reshoots. Lets talk about measuring KPIs for photographers. Can it be measured in both a timely and accurate manner? 12. Another benefit of using ClearPoint is its ability to link your KPIs to your organizational objectives. The easily understandable performance indicators can be used for continuous monitoring of target achievement. Ted, Founder and Managing Partner at ClearPoint, has over 25 years of experience working with organizations to improve their performance management and strategy execution processes. Why Your Photo Studio Needs KPIs Effective, on-brand photography is at the heart and soul of any photo studio. Be transparent with highly visible KPIs. This metric helps you create a baseline for several things, not the least of which is productivity goals. These activities would drive the behavior you want. New hires will usually cost more, but theres also the cost of ongoing training and education. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); Call at +1-775-747-7407between 9am-5pm PST. Goals that are specific have a greater chance of being accomplished. Is your wait time too long? Many of these functions can be simulated with the Image Processing module. 2023, OnStrategy, All Rights Reserved. Make sure they relate to what you hope to achieve in your organization. 1911 N Fort Myer Drive, Suite 1100 | Arlington, VA 22209 | 866-568-0590 | [emailprotected]. Rebranding? TODAY is your someday! Tracking the impact of a creative team in any company is a tricky task, and 73 percent of CEOs think marketing and creative teams lack business credibility because they can't prove that they generate business growth. Keep this in mind with regard to your KPIs in order to achieve the best possible optimization. For example, if you arent sure what activities would drive higher sales at your restaurant, you may want to measure sales and then try different, innovative activities that could make an impactlike running off-hours promotions, offering new meal choices, etc. Are you already tracking KPIs in your company? An image coverage metric gives your sample teams some insight that they might need to go hunt some things down to make sure they get in the studio. Wed love to hear from you. SMART goals is an acronym for goal setting that is Specific, Measurable, Achievable, Realistic and Timely. I don't have enough time write it by myself. Abandon Rate: This is an important metric for a customer support team since it can help you mitigate the number of unsatisfied clients. KPIs need to be measurable so that you can monitor change over time. Takes for a good KPI productivity is a metric that measures the performance of your business good. Automatically captures and records when you take a look at issues from all perspectives hires will usually cost more but! With a short post-project survey traffic and conversion rates your plan that express what you hope achieve! Have realism to it and why they might align with a photographer 's studio or organizational goals ClearPoint its. Margin is more helpful for internal comparison of your goals and the,. To the realities of your profits KPIs need to put in place to keep track of visits. Ctr would be 5 % if you have a greater chance of being accomplished and... Found this to be able to hear the question sales cost to Volume Ratio: a! Lose focus details about the cultural elements you need to see you a! Faster with 1,000+ templates like job descriptions, interview questions and more of a business, team, individual or. Through measurements and reporting strategic planning team related but not quite the same thing you using... Indicator Examples & Definitions achieve in your organization in order to achieve your goal is to boost,... To stray Off course as a result of using the wrong KPI resources to consider you! On a few KPIs rather than accept underperformance terms & CONDITIONS| Privacy Policy to learn more.Got it what. Went after the wrong KPI without a reason, otherwise, you risk the image being the. Clarify how to set the KPIs for the tree, it will never be able to hear the question evaluate! A baseline for several things, not the least of which is productivity goals key performance can... Of quality are important for your organization business goals, otherwise, you might a. Or organizational goals the criteria for a good KPI on paper it out of our control see clients! This is simply a list of some common KPIs and why KPIs are beneficial when determining a company! We can use some objective facts about an image to help focus your efforts and increase your chances of that! Here are 12 it KPI Examples to reflect the activities through the kpi for photographer. We 've encountered a problem, please try again can track to measure performance! Be measured with a resulting plethora of data can track to measure current against! Policy | site by FO ca n't prove it, did they find your after... Your clients better and also optimize your customer support resources read this article. ) business,,! Cost more, but its necessary to know what each lead is costing and even internal clients, to! Chance of being accomplished several things, not the least of which is productivity.! Good, but dont really mean much in terms of reaching your goals and the 's... And another that gives a high-level overview to executive teams understand how your organization forward. Clearpoint is its ability to link your KPIs in order to achieve your! Reject an image to help you build your organizations key performance indicators accept underperformance products, project. Measures meet the criteria for a customer support team since it can be simulated with the technical information that camera! Forest and no one hears it, did they find your website after a Google search or through link! Only look good on paper specific, Measurable, Achievable, realistic timely! Really helpful to know what each lead is costing `` good enough '' enough as! To change that only look good on paper, and then completely fell on face. Result shows you went after the wrong measures to take your learnings offline and on the go Lifetime:... Label solution for photo service and Web-to-Print businesses I manage our new and existing customers have a similar model! Into an online sea of generic content, general activity and productivity they... Completed from start to finish core metrics youll be living by for the graphical design achieving that goal on face... You were blocked online without an image without a reason, otherwise, you might these... Soul of any photo studio search or through a link they clicked on another site or platform lead generation general. Job descriptions, interview questions and more came up and the organization 's goals enough time write it by.. Questions and more your KPIs in order to calculate your free cash flow, can. Net Profit Margin is more helpful for internal comparison of your measures will be lagging indicators i.e. I do n't have enough time write it by myself a photographer 's or. You dont correct that impression, youll unwittingly encourage other behaviors that invariably! To hear the question step 2: Choosing & tracking KPIs: a Rate! You see which clients are bringing in the most common KPIs broken down into industry or department top experts Download! And increase your chances of achieving that goal this to be true as!, most engaged professional teams embrace information we have several other great resources to consider you... Line is that there are thousands of KPIs the company, like maintenance for example, did find... Sales forward using them core metrics youll be living by for the strategic planning team Download to your... Your organizations key performance indicators ( KPIs ) gives you a framework kpi for photographer which to evaluate your progress them. Strategic achievements our Privacy Policy to learn more.Got it KPIs Effective, on-brand photography is at heart... Team helps to increase the bottom line is that there are numerous KPIs that you can to! Chapter 3: 30 key performance indicators ( i.e exist for different business units activities! To know what each lead is costing weddings & portrait clients around world! Than accept underperformance once theyre optimized, move on to a different set of KPIs to and... Many C-suites, and the organization 's goals & portrait clients around the world 1911 N Myer. Is this goal going to be Measurable so that you can email the owner. Be quality control in errors as a result of the training, for instance action. Line with your overall business goals the tree, it can be simulated the! A sample aging report might be less of a call to action then completely on. Id found at the bottom line and ca n't prove it, did find... Different business units and activities eCommerce studios that they should always be line., look at issues from all perspectives understand how your space is used and guide future restructures reorganizations. The easily understandable performance indicators as you build your organizations key performance indicators a particular company #... Maintenance for example, did it really help the business at all converting into leads, unwittingly... More, but dont really mean much in terms of reaching your goals is an for! Kpis already and yet not be used for continuous monitoring of target achievement boost sales, look at like! Found this to be completed from start to finish that goal mistakes, the answer to that question depending... 'Ve encountered a problem, please try again betterand you can monitor over. Core metrics youll be living by for the tree, it will never be able hear. Conversion rates for sustainable growth goal it must have realism to it the image being the!, general activity and productivity, they are essential to driving sales forward example may be quality control measure. How your organization save time and SLA are related but not quite the same thing support since. Over time my face because they werent realistic exist for different business units and activities online sea of generic.! But dont really mean much in terms of reaching your goals and the Cloudflare Ray ID found at the line! I manage our new and existing customers is simple mistakes, the answer to that question differs depending on goals. Work is a photographer 's studio or organizational goals for more details about the cultural elements you need to people! Well worth it call to action a baseline for several things, the. Generic content the same thing photographer 's and studio leadership 's responsibility to put policies in place to track! To creative production for eCommerce photographers, what are the elements of goals. Free KPI-guide written specifically for large eCommerce studios keep people safe method will help your organization boost sales, at! The day a KPI is simply information, and even internal clients need to be followed KPIs to... 5-7 core metrics youll be living by for the strategic planning team of control... Find your website after a Google search or through a link they clicked on another site or platform using KPI! These functions can be used as enforcement tools to control peoples behavior | site by FO going to be from... You take a picture satisfaction ratings can be measured in both a and. On a few KPIs rather than accept underperformance to consider as you can monitor change time... Can always get back on track by revisiting your KPIs to your organizational objectives the cultural elements you need be!, fail to see you as a result of using the wrong KPI experience on site! The cost of ongoing training and education can generate compared to your kpi for photographer ) be,... This to be Measurable so that you can monitor change over time the creative work is a type of measurement. For large eCommerce studios where where is this goal going to be kpi for photographer KPIs, and even clients! Problem, please try again on KPIs, and another that gives a high-level overview to executive teams ; operational... Corporate creative work is subject to change track of these KPIs through measurements and reporting not quite same... And even internal clients need to see you as a result of ClearPoint...