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Startup Metrics: What to measure When?
Hey everyone!
Can anyone help me with startup metrices, KPIs and when to measure them?
Any feedback or advice will be appreciated.
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9 Replies
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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.
http://www.google.com/amp/s/neilpatel.com/blog/9-metrics/amp/
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What is an LTV metric?
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66
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
x
Monthly revenue you expect from that customer
= LTV
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66
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)
5. Margin
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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?
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66
Sure.
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.
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20
Guys view this infographic. It has everything we need to know about startup metrics.
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Hey everyone! I found this amazing article related to startup metrics.
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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.
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