What are the key modern metrics businesses should track?
Businesses today should focus on metrics like Customer Lifetime Value (CLV), Net Promoter Score (NPS), and conversion rates.
How do I calculate Customer Lifetime Value?
CLV can be calculated by multiplying the average purchase value, purchase frequency, and customer lifespan.
What is Net Promoter Score and why is it important?
NPS measures customer loyalty by asking how likely customers are to recommend your business. It's crucial for understanding customer satisfaction.
Can you suggest tools to track these metrics?
Sure! Tools like Google Analytics, HubSpot, and Salesforce can help you track these modern business metrics.
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