What are the key metrics I should track for business success?
An example of an AI chatbot conversation about common metrics for measuring business success.
What are the key metrics I should track for business success?
Key metrics include revenue growth, profit margins, customer acquisition cost, and customer lifetime value.
How do I calculate customer acquisition cost?
Customer acquisition cost is calculated by dividing total marketing expenses by the number of new customers acquired.
What is a good profit margin for a small business?
A good profit margin for a small business typically ranges from 10% to 20%, depending on the industry.
Can you explain customer lifetime value?
Customer lifetime value is the total revenue you can expect from a customer over their entire relationship with your business.
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