Post by account_disabled on Jan 1, 2024 16:11:44 GMT
Aare great places to look for opportunities to grow your business. Percentage of leads converted This is perhaps the most underappreciated metric there is. Everyone wants to know how to get more leads but the gold is in converting more leads to customers. Get very very serious about establishing a baseline on this number so you can take every element of your marketing sales and service apart in an attempt to impact it in positive ways. For some businesses a five or ten percent bump in this number means doubling revenue.
Percentage of business by referral This may be one of the best ways to get a sense of how healthy a business is. You can always do more to get more referrals but if youre not even Mobile App Development Service getting accidental referrals there are some other things that might need fixing first. Keep an eye on this number and youll have the viewfinder for how your marketing campaigns and your point of differentiation are being received and executed. Percentage of repeat business This is another measure of satisfaction but also a bellwether of opportunity.
If you are getting referrals but not a lot of repeat business it may be simply a matter of extending your offerings and growing organically. Cost to acquire a new customer measure to use for creating a budget. If you know this number you can start to bring it down while understanding how to buy new business. This of course assumes that the lifetime value of a customer is significantly higher than the cost to acquire them. Percentage of customers likely to refer This is a shout out to the use of Net Promoter concept put forth in The Ultimate Question books by Fred Reiccheld. This is something that is easy to measure and should be done on a rolling basis with every customer.
Percentage of business by referral This may be one of the best ways to get a sense of how healthy a business is. You can always do more to get more referrals but if youre not even Mobile App Development Service getting accidental referrals there are some other things that might need fixing first. Keep an eye on this number and youll have the viewfinder for how your marketing campaigns and your point of differentiation are being received and executed. Percentage of repeat business This is another measure of satisfaction but also a bellwether of opportunity.
If you are getting referrals but not a lot of repeat business it may be simply a matter of extending your offerings and growing organically. Cost to acquire a new customer measure to use for creating a budget. If you know this number you can start to bring it down while understanding how to buy new business. This of course assumes that the lifetime value of a customer is significantly higher than the cost to acquire them. Percentage of customers likely to refer This is a shout out to the use of Net Promoter concept put forth in The Ultimate Question books by Fred Reiccheld. This is something that is easy to measure and should be done on a rolling basis with every customer.
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