As a startup, it’s essential to track your progress and growth. After all, if you’re not growing, you’re dying. But how do you measure your progress?
There are a few key metrics you can track to measure your growth marketing progress. Here are a few of the most important ones:
1. Monthly recurring revenue (MRR)
2. Customer churn rate
3. Customer lifetime value (LTV)
4. Cost per acquisition (CPA)
5. Virality coefficient
6. Engagement rate
7. Conversion rate
8. Trial conversion rate
9. Revenue per user (RPU)
10. Net promoter score (NPS)
Each of these metrics is important in its own way and can give you insights into different aspects of your business.
For example, MRR is a great metric to track because it shows you how much revenue you’re bringing in each month from your recurring customers. This is important because it shows you the health of your business and whether or not you’re growing.
Customer churn rate is another important metric to track. This is the percentage of your customers that cancel or don’t renew their subscription each month. A high customer churn rate can be a sign that your product is not meeting customer needs or that your pricing is too high.
Customer lifetime value (LTV) is a metric that shows you how much revenue you can expect to generate from a customer over the course of their lifetime. This metric is important because it allows you to assess the profitability of your customer acquisition efforts.
Cost per acquisition (CPA) is a metric that shows you how much it costs you to acquire a new customer. This is important because it allows you to track your customer acquisition costs and compare them to your LTV.
The virality coefficient is a metric that shows you how viral your product is. This is important because it allows you to track the potential reach of your product and assess your growth potential.
Engagement rate is a metric that shows you how engaged your users are with your product. This is important because it allows you to track how well your product is being received and how likely users are to continue using it.
Conversion rate is a metric that shows you how many of your users are converting into paying customers. This is important because it allows you to track your progress in converting users into paying customers.
Trial conversion rate is a metric that shows you how many of your trial users are converting into paying customers. This is important because it allows you to track your progress in converting trial users into paying customers.
Revenue per user (RPU) is a metric that shows you how much revenue you’re generating per user. This is important because it allows you to track your progress in monetizing your user base.
Net promoter score (NPS) is a metric that shows you how likely your users are to recommend your product to others. This is important because it allows you to track customer satisfaction and assess your growth potential.
These are just a few of the most important metrics you should track to measure your growth marketing progress. By tracking these metrics, you can get a better understanding of your business and what areas you need to focus on to continue growing.
