MemberMarch 10, 2021 at 7:39 am35Level 1
Can anyone help me with startup metrices, KPIs and when to measure them?
Any feedback or advice will be appreciated.
MemberMarch 10, 2021 at 11:33 am276Level 1
Hi @Bharat !
According to me, revenue is the most important metric when it comes to starting a business. But there are many such metrics which are to be considered for consistently growing your business.
I came across this article by Neil Patel, where he explained about the top 9 business metrics to focus on.
MemberMarch 10, 2021 at 11:35 am3Level 1
What is an LTV metric?
MemberMarch 12, 2021 at 5:17 am171Level 1
The Life Time Value(LTV) metric, is all about how much you expect to earn from a customer during the time they are with your company.
As in equation:
No. of months a customer stays with you
Monthly revenue you expect from that customer
MemberMarch 12, 2021 at 5:30 am171Level 1
Hi @Bharat, Answering to your question.. if your startup is in initial stages, I recommend you to tract these 5 Metrics:
1. Customer Acquisition Cost( CAC)
2. Retention Rate
3. Customer Life time revenue(CLR)
4. Return on Advertising Spending(ROAS)
MemberMarch 12, 2021 at 5:43 am35Level 1
Thanks for the suggestion @Abhishek ????. I have a know-how of the first 4 metrics you suggested but can you please make me understand the fifth one?
MemberMarch 12, 2021 at 6:00 am171Level 1
Margin here refers to the gross margins which determine your operating profitability. You should research about how much gross margin is typical for your industry. Gross margins are also a key indicator of the performance of management, sales, and customer teams. So, measuring this metric is important for newly established startups.
MemberMarch 12, 2021 at 6:15 am161Level 1
Guys view this infographic. It has everything we need to know about startup metrics.
MemberMarch 12, 2021 at 6:25 am347Level 1
Hey everyone! I found this amazing article related to startup metrics.
MemberMarch 12, 2021 at 7:13 am205Level 1
In my early days I was also jumbling around what metrics to measure and how should I keep a track of them. So, I am sharing an article which helped me through this and will help you to track your business metrics in 3 Simple and effective steps.