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
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.
My product is a stock market research iOS app called Company 360: Research data to invest in quality undervalued companies.
1. Customer retention.
2. Downloads and active users.
3. Sales (conversion to subscriptions rate).
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.
Retention - how to get them to come back often
Net Promoter Score (NPS) - are they likely to refer us to others
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..
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.
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.
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.
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?)
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.
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...
For www.skilledup.life (free talent for tech startups):
- Time to add 100 new volunteers (first 100 took 176 days. Best took 3 days)
- Total Number of Volunteers (Target is to reach 11,000 by 31st Jul 2022)
- MRR (target is £10k MRR by 31st Oct 2022)
- Total Paying Customers (target is 100 by end of 2022)
Current performance www.skilledup.life/metrics