What are some key performance indicators for small businesses?
An example of an AI chatbot conversation about KPIs for small businesses.
What are some key performance indicators for small businesses?
Key performance indicators (KPIs) for small businesses can include sales growth, customer acquisition cost, and net profit margin.
Can you explain how to calculate customer acquisition cost?
Sure! Customer acquisition cost (CAC) is calculated by dividing the total cost of acquiring customers (marketing expenses, sales expenses) by the number of new customers acquired in a specific period.
What is a good net profit margin for a small business?
A good net profit margin for small businesses typically ranges from 10% to 20%, but it can vary by industry.
How often should I review my KPIs?
It's recommended to review your KPIs at least quarterly to ensure you're on track and to make necessary adjustments.
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