What are your 3 most important metrics to track?
Khalid Belghiti
30 replies
I know there will be more than 3 but what are the most important ones for you? Bonus point if you tell me what kind of product are you working on too :)
Replies
Vivek Srinivasan@viveksrn
The only right answer to this question is - It depends.
Share
Makeena
Conversions, Monthly Active Users, Daily Active Users!
Product: Makeena incentivizes consumers with cash and rewards for buying better while providing natural products brands with the insights and data they need to grow.
Fable NFT Fundraiser
In the times of expensive ads and crowded distribution channels, for me it’s become average shares/invites sent per user. If share-ability isn’t baked into the product then sometimes it leads to an early retention focus, which if too early on could make the product great for a niche but bland/complicated to the masses. So, having a shareable product means having a better representation in your overall cohorts.
RetentionX
Cohorts, Customer Lifetime Value (CLV) & Active Customers are for any business model indispensable
@alexisjst Great! Thanks for the answer! :) Do you have any recommendation/articles for cohort analysis best practices please?
My most important metrics are
MRR, LTV, CAC, Churn Rate
We provide SaaS-based ERP solutions. We primarily focus on MRR (Monthly Recurring Revenue), Churn Rate, CSAT Scores, and monthly conversion rates.
The essential metrics for you would depend on what you are aiming for.
Qualitative metrics for customer satisfaction and CXO - CSAT, CES, Exit-intent, NPS
For quantitative assessment to gauge product performance- LTV, Churn Rate, MRR, new subscriptions, CAC.
For assessing the quality of service - CSAT, TATs, AHT, queries handled, conversions achieved.
These are not exclusive and would change from industry to industry. There are a lot of internal KPIs as well that companies track to evaluate their progress.
We are financial reporting SaaS for startups. It allows to track financial metrics 10X faster (real-time) and SAVE 3-5X money on the financial officers replacing them.
Thefinanz.com
Company 360
My product is a stock market research iOS app called Company 360: Research data to invest in quality undervalued companies.
Metrics:
1. Customer retention.
2. Downloads and active users.
3. Sales (conversion to subscriptions rate).
Homepage app
Having just launched a new app, HomePage, our top KPI's are downloads, those who set up a profile, those who return...also (and yes this would be 4, but I think it is important to track the negative in any business) how many deletes we have per day.
Privacy Hunt
I think the most important thing to measure is the health of a product. Retention and LTV are very good candidates to help you do that.
Growth metrics are little different. They include revenue, number of downloads etc. But one should keep in mind that they're not necessarily indicative of a product's health..
Poddit
We help people get featured on podcast interviews. We have both sides on the platform including podcasters and guests so network effect is incredibly important for us. We find the following to be most important to sustained growth.
Key Metrics:
Retention - how to get them to come back often
Net Promoter Score (NPS) - are they likely to refer us to others
We are a HaaS startup, and for us our most important metrics are 1) sales 2) churn 3) newsletter signups. We make a small hardware device that blocks ads and keeps your network private; a replacement to your VPN. Check us out, we just launched today! FortressOne
Taking a Top down approach, Rule of 40 works for startups at any phase.
Metrics to track for
Growth: Conversions, LTV, Churn etc.
Profit: product opex (important for SaaS), Customer Acquisition, Support etc.
Our product: Cloud management Saas platform
CAC, Net Retention, and Renewal rate. These are admittingly more SaaS focused (not sure what type of business you are running) but are my favorite signals as to biz health. Net Retention is the most powerful in my humble opinion, as it tells you how fast you could hypothetically grow without making a single new sale. In software, anything over 130% net retention is stellar.
DAU
Retention
ROAS
Btw, we are building Wylo, an interest-based social network for you to find people, content, AMAs, and resources based on your specific interests and hobbies.
We launched today and you should check us out here: https://www.producthunt.com/post...
This totally depends on your vertical, your geo & audience, give me more context!
moji AI wearable
- Network effect
- Economy of scale
- Brand
Neighborverse
At the highest levels Revenue, Profitability and Growth obviously. For my App, I track Downloads, Active users, Length of User Session and few more. Thoughts?
Landing Page Generator by LP151
Hi! Right now I am promoting a Landing Page Generator (LP151) and I am using to track such metrics like: CPC, Cost per Registration and Cos Per Customer who made landing page with our product. I use these metrics for each adv-channel: Facebook, Instagram and Google Advs and others.
Could you recommend one more adv-channels for us?)
Scoutflo
Launching soon!
There are three common metrics that businesses often track:
1. Customer Acquisition Cost (CAC): This is the cost associated with acquiring a new customer. It is important to track because it can help you evaluate the effectiveness of your marketing and sales efforts. By comparing your CAC to the lifetime value of a customer (LTV), you can determine whether your customer acquisition efforts are profitable or not.
2. Churn Rate: The churn rate is the percentage of customers who stop using your product or service over a certain period. This is an important metric to track because it can help you identify trends and patterns in customer behavior. By understanding why customers are leaving, you can take steps to improve your product or service and reduce churn.
3. Net Promoter Score (NPS): NPS is a customer satisfaction metric that measures how likely your customers are to recommend your product or service to others. It is calculated by subtracting the percentage of detractors (customers who would not recommend your product or service) from the percentage of promoters (customers who would recommend your product or service). NPS is important to track because it can give you insights into the overall satisfaction of your customers and help you identify areas for improvement.