March 18, 2013 No Comments

Key Customer Metrics for Growth

When I ask small business owners about their customers, I often get long pauses and even blank stares. Many business owners are so focused on their products or services that they forget to pay attention to their customer numbers. One of my first tasks is to shift that focus onto the customer. Without customers, there IS no business. Therefore, it is critical to every business to know precisely how they get and keep customers.

There are three key metrics every business owner needs to know about those customers:

  • Customer acquisition cost
  • Conversion rate of prospects to customers
  • Lifetime value of the customer (more…)

Filed under: Business, Customers, Growth, Small Business

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