Learn a bit on KPIs
Key performance indicator, or KPI, is a quantitative measurement of performance over time for a certain goal. KPIs offer goals for teams to strive towards, benchmarks to evaluate progress, and insights that aid individuals throughout the organization in making better decisions.
Here are some KPIs you can measure for your startup :
1. Revenue: Tracking the amount of money a startup is taking in is essential for gauging how well the company is doing.?
2. Customer Acquisition Cost (CAC): CAC is a KPI used to measure how much it costs a startup to acquire new customers. It helps businesses determine their break-even point and how effective their sales and marketing strategies are.?
3. Customer Retention Rate (CRR): The CRR is used to measure how often customers return to purchase from a startup. It’s an important factor to consider when evaluating the success of a business.?
4. Active Users: A startup should track the number of users who are actively engaged in the product or service. This allows companies to determine if their product or service is being used and if customers are staying with the business over time.?
5. Average Customer Lifetime Value (CLV): CLV is used to measure the total value of a customer over the course of their relationship with the startup. Knowing the average CLV can help startups allocate resources more effectively and target more profitable customers.?
6. Cost of Goods Sold (COGS): COGS is an important KPI for startups producing physical products. Tracking COGS helps businesses stay aware of their profitability and make the necessary changes to boost profits.?
7. Net Promoter Score (NPS): NPS is used to measure customer satisfaction and loyalty. It helps startups identify areas for improvement and develop stronger relationships with customers.?
CEO and founder of multiple startups. KPI Karta helps you visualize your strategy and informs what needs to get done.
1 年Yes, KPIs are great but they can cause a great deal of consternation for companies and their teams. Numbers are being asked of people that don’t seem to make much sense. That’s because they are reused from the past, or chosen from someone’s top-10 list. But they don’t then align with overall goals, resulting in KPIs that encourage behaviour inconsistent with what the organization is trying to accomplish. And so KPIs cause frustration. Try using our new tool, KPI Karta, which builds hierarchical, color-coded maps showing how work is directly connected to your goal, producing more effective KPIs and then lets you track them in real time.