How to calculate customer lifetime value

While it's not the only metric a growing business needs to measure, customer lifetime value is definitely one of the most important. It costs more to acquire new customers than it does to keep the ones you already have. And knowing how much money a customer is likely to spend during their entire relationship with your business helps you make informed decisions about how best to allocate your resources. In this blog post, Clint Fontanella shares a step-by-step guide to calculating customer l...
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Forget about growth. Here’s the metric that really matters

The key to achieving sustainable growth is knowing which metrics matter the most during a product's lifecycle. While customer acquisition is a key activity for any business, the success of every SaaS company relies on recurring revenue. If a customer feels they aren't getting value from a product, they cancel their subscription—and that represents a lost revenue opportunity for the business. For product management, the problem is deciding whether to prioritize "what gets new people to sign ...
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Why tracking the wrong social media metrics can hurt your business

When it comes to building your social media strategy, you won't know if you're making good decisions and using the right tactics if you're not measuring your performance and what you measure needs to be aligned with your goals. It's easy to get so caught up in all the likes and retweets, that you lose sight of the outcomes that matter the most for your brand, writes digital marketing professional Brian Hart. In this article, he shares how to avoid vanity metrics and misleading data and focus ins...
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The 11 rules of highly profitable companies

Your business needs be profitable to remain operational. You don't just want your business to survive however you want it to thrive and that means finding ways to increase profitability. Often it's the simplest ideas that are the most effective. The key is to generate the most profit for the least amount of effort and to maximize your margins without sacrificing quality, says best selling author, investor and podcast host Tim Ferriss. Here, he shares some top tips from high performing CEOs ...
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Is growth hacking a viable long-term strategy for your small business?

One of the first goals for an early stage startup is achieving product-market fit. The next goal is exponential growth. Rapid growth requires a different approach to the broad focus of conventional marketing techniques and this is where growth hacking comes in. With its focus on experimentation and creativity, growth hacking involves scrutinizing every strategy, tactic and initiative in terms of its potential impact on growth. However, while deploying growth hacks will deliver big wins, "eventua...
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The three things that will make you successful in marketing

Marketing has changed considerably in recent years and what was once considered an art is now a blend of creativity, strategy and technology. As social media became a tool for brands to connect with consumers, search engines started using advanced ranking algorithms, and browsing online became increasingly personal, marketers have had to move fast to keep up with the latest trends. And with artificial intelligence and data-driven marketing gathering momentum, the marketing landscape is continuin...
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5 key metrics every early-stage business must track

Keeping your startup afloat and getting it to your intended destination is no easy task. Every business encounters rough seas from time to time and the key to staying on course is to continually measure your progress towards long-term goals. And to accurately measure your progress, you need to know which metrics and data are the most important at each stage of your journey. "As your business evolves, so should the metrics you track," writes Craig Bloem, who shares here the key metrics that will ...
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Buying a business? 5 essential KPIs you need to review before you buy

As with any big buying decision, you need to do some thorough research before acquiring a business to make sure what you see is what you're going to get. The more questions you ask, the less risk there'll be. And the more you know about a company's key performance indicators (KPIs), the better you'll be able to determine your chances of success. While some KPIs are universal, others are more applicable to some businesses or industries than others. To help you get started, Bruce Hakutizwi sh...
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Important metrics startups should keep track of

Important metrics startups should keep track of For many business owners, just the word metrics has them filled with worry and stress. In this article, we’re going to demystify the term and tell you what important metrics startups should keep track of. Why look at metrics? Well, metrics measure performance, and your investors are going to want to know how you’re doing. You also use metrics to measure your startup’s behavior, activities and other important attributes. You can then use these metri...
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