What's the most important metric to track in your business?

uptrendfinancialsignal

Well Known
Member
Nov 24, 2022
8,905
181
Dex
$0.004
Raw Dex
$0.121
For me, we need to consider the customer acquisition cost (CAC) vs the customer lifetime value (CLV). If you are not generating enough revenue from each customer to help you offset the cost, you will need to rethink your strategy.
 
AgoraForo - Digital Marketplace & Freelancer Forum

Reedex

Well Known
Member
Jan 8, 2023
6,801
103
Dex
$0.002
Raw Dex
$0.001
You neee to keep track of the net promoter score (NPS) religiously. This is because if your customers aren't happy and referring others, you've got a problem to fix.
 

Reedex

Well Known
Member
Jan 8, 2023
6,801
103
Dex
$0.002
Raw Dex
$0.001
Customer churn rate is one of the crucial metric to consider for me. I need to know if I'm losing customers faster than I'm gaining new ones. It means I need to identify the issue and fix it very quickly too.
 

Reedex

Well Known
Member
Jan 8, 2023
6,801
103
Dex
$0.002
Raw Dex
$0.001
Return on ad spend (ROAS) is essential too. You should know that you are not generating a positive return on your advertising spend. This means you need to adjust your marketing strategy.
 

uptrendfinancialsignal

Well Known
Member
Nov 24, 2022
8,905
181
Dex
$0.004
Raw Dex
$0.121
You could track employee satisfaction and engagement closely. Happy employees are very productive and they also provide better customer service. They will ultimately drives business success.
 

Reedex

Well Known
Member
Jan 8, 2023
6,801
103
Dex
$0.002
Raw Dex
$0.001
There is need to be aware that cash flow is king. If you are not managing your cash flow effectively, you risk running out of money and derailing your business too.
 

Reedex

Well Known
Member
Jan 8, 2023
6,801
103
Dex
$0.002
Raw Dex
$0.001
There is need to consider the Retention rate because it is very critical for your business. This is because their is need to keep your customers engaged and retained.
 

nomad

Very Familiar
Member
Jun 22, 2022
10,870
511
Dex
$0.280
Raw Dex
$0.600
The most important thing you need to see is traffic and conversion. You will have to see the gap between those who visits and those who actually buys.
 
Back
Top