When it comes to measuring the success of your marketing efforts, there are countless metrics you could track. However, not all of these metrics are equally important when it comes to driving growth and increasing revenue.
Here are some key metrics that matter most for achieving sustainable business growth:
- Customer Acquisition Cost (CAC) – This measures how much it costs to acquire each new customer; Lower CAC indicates higher efficiency & better ROI
- Lifetime Value (LTV) – LTV is the total amount of revenue a customer generates over their lifetime with your business; Higher LTV indicates more profitable customers
3 . Conversion Rates: Tracking conversion rates across different channels helps identify areas in which improvements can be made towards achieving desired results
4 . Churn Rate : The percentage rate at which users stop using App or discontinue subscription services ; Lower churn rate means greater retention rates leading towards increased word-of-mouth referrals , positive reviews and ultimately more revenue.
5 . Engagement Metrics : Time spent within App per session , number of sessions per user etc.. indicate overall engagement levels with Application ; Higher engagement leads towards brand loyalty & repeat purchases
By regularly monitoring these metrics above, businesses can make informed decisions about where to invest their resources and focus their attention on areas that will drive sustainable growth over time.
We hope this article provides insights into how you can track meaningful metrics that matter most for growing your business!