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Forget The Typical M[RR]etrics - Here's How You Should Be Measuring Your Success
Measure your business success beyond typical metrics by focusing on customer value realization and retention, and learn how to use new user and revenue cohort retention to drive growth opportunities.
- Forget traditional metrics, focus on customer value realization and retention.
- Measure new user retention and revenue cohort retention to identify growth opportunities.
- Use charts like revenue cohort retention to track retention rates and identify areas for improvement.
- Calculate revenue core retention to measure how long customers retain value.
- Identify common customer journey stages, including problem, first value, and expansion.
- Define metrics based on customer experiences, such as product activity, activation, and onboarding.
- Cite examples from ProfitWell, ChartMogul, and BareMetrics for measuring revenue cohort retention.
- Identify specific actions to take, such as revising activation and onboarding experiences, and adjusting pricing and monetization strategies.
- Emphasize the importance of measuring customer success KPIs, including expansion revenue and revenue core retention.