KPIs stand for key performance indicators. Tracking these metrics can help you to understand how your customers are engaging with your technology and identify areas for improvement. Here are some of the most important KPIs that you should focus on.
Tracking these KPIs can provide valuable insights into the growth and success of your start-up.
For more insights, follow Marketing For Tech on LinkedIn.
- Conversion Rate: This measures the percentage of your website visitors who take a desired action, such as buying a subscription plan.
- Customer Acquisition Cost: This measures the cost of acquiring a new customer, including all marketing and sales expenses.
- Activation Rate: This tracks the percentage of users who have completed the onboarding process and became active customers.
- Monthly Recurring Revenue: This shows the predictable and recurring revenue generated by subscriptions. To calculate MRR, take your Average Revenue per User on a monthly basis and then multiply it by the total number of users in a given month.
- Churn Rate: This includes the percentage of customers who stop using your product over a specific period.
- Customer Lifetime Value: This measures the total amount of money a customer is expected to spend on your product over their lifetime.
- Product Engagement: This shows how customers are using your product, such as time spent on the platform, number of logins, or number of actions taken.
Tracking these KPIs can provide valuable insights into the growth and success of your start-up.
For more insights, follow Marketing For Tech on LinkedIn.