BETA - How do I determine my key metrics?

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Tracking the business metrics that matter most to your company will help you learn about your data, monitor it to see trends over time, and react quickly and thoughtfully when you notice positive or less-than positive results.

Okay. I understand I can be more successful when I track my metrics, but, how do I know which metrics are essential for me and my business?

Some metrics such as net profit, revenue, and customer lifetime value are applicable to pretty much every business out there but there are also specific metrics you will want to access for your business type.

Here are some examples based on business sector that we recommend you take a look at:

Marketing

Sales

Executive/Financial

SEO Traffic:

The number of visits to your website as a result of organic or paid search traffic. Use this metric to make note of trends and maximize your SEO tools accordingly.

Leads:

The number of probable buyers of your product or service. Use this metric to follow up on your leads and turn them into customers!

Customer Acquisition Cost:

Measures the costs of acquiring new customers by adding up sales and marketing costs for a given period, and dividing them by the number of new customers for that period. Use this metric to calculate how much it costs your business to gain new customers, helping you make better financial decisions for your business.

Follower Count:

The total number of users that are following your account on social media platforms. Use this metric to see which social media platforms are most effective for your business. 

Opportunities:

The number of customer prospects based on opportunity value and the probability of closing the sale. Keep track of your valuable opportunities to help you gain customers.

Net Burn

Measures how quickly a startup is using up its venture capital, taking into consideration the revenue the business is generating.  

Pageviews:  

The number of views per web page. This metric will help you gain insight into how compelling and popular a specific page is.

Wins:

The number of leads and opportunities that are converted to sales or new customers. Use this metric to keep track of your team's success!

 

Monthly Recurring Revenue (MRR)

The revenue generated on a monthly basis by the customers who have signed up for your service. Use this metric to stay aware of your business's growth.

 

Klipfolio Trends includes several metrics - and we are adding more all the time! When you create a metric in Klipfolio, you have the option of clicking the “information” icon and seeing details related to the metric you selected. Use this information to learn more and, if you think it sounds like a good fit for you, add it, connect it to your data, and then explore and play with your metric to see what it can show you about your business performance.

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