What are the best KPIs for startups to track?
An example of an AI chatbot conversation about key performance indicators for startups.
What are the best KPIs for startups to track?
The best KPIs for startups often include Customer Acquisition Cost (CAC), Lifetime Value (LTV), and Monthly Recurring Revenue (MRR). These metrics help gauge growth and sustainability.
How do I calculate Customer Acquisition Cost?
To calculate CAC, divide the total cost of sales and marketing by the number of new customers acquired during a specific period.
What is a good LTV to CAC ratio?
A good LTV to CAC ratio is typically 3:1, meaning the lifetime value of a customer should be three times the cost of acquiring them.
Are there any other important KPIs I should consider?
Yes, you should also consider metrics like churn rate, conversion rate, and net promoter score (NPS) to get a comprehensive view of your startup's performance.
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