How can I adjust KPIs to support business growth?
An example of an AI chatbot conversation about adjusting KPIs for business growth.
How can I adjust KPIs to support business growth?
To adjust KPIs for growth, start by aligning them with your business objectives. What specific goals do you have in mind?
I want to increase customer retention and sales.
Great! You might consider KPIs like customer lifetime value and repeat purchase rate. Would you like to explore how to measure these?
Yes, how do I measure customer lifetime value?
Customer lifetime value (CLV) can be calculated by multiplying the average purchase value, purchase frequency, and customer lifespan. Do you have those metrics?
I have the average purchase value and frequency, but not the lifespan.
You can estimate customer lifespan by analyzing historical data on how long customers typically stay engaged with your brand. Would you like tips on gathering that data?
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