ConversionXL

JUNE 5, 2014

Has your company’s customer retention rate increased, decreased or remained status quo over the past five years? Have you outlined and initiated a formal customer retention strategy? In a study by Harvard Business School , it was found that increasing customer retention by even 5% can increase profits between 25-95%.

Retention 98

Retention Customer Developer Programming 98

Hearpreneur

OCTOBER 25, 2023

The expansion of e-commerce should also bring about seeing returns as a strategic lever, similar to how companies used faster delivery to drive customer experience and revenue. First and foremost, consider hiring an attorney to assist you in setting up your business structure, drafting contracts, and establishing store policies.

eCommerce 128

eCommerce Omaha Entrepreneur SEO 128

Both Sides of the Table

DECEMBER 27, 2011

If you hire 6 sales reps in January at $120,000 / year salary then you’ve taken on an extra $60,000 per month in costs yet these sales people might not close new business for 4-6 months. So your Q1 results will be $180,000 less profitable than if you hadn’t hired them. Hiring more people isn’t always the right answer.

Startup 418

Startup Revenue Technical Review Flash 418

Hearpreneur

JANUARY 19, 2022

Especially during challenging times, retention is significantly more crucial than acquisition. Although our in-person services were put on hold, our eCommerce products, including virtual services tripled in revenue. We had to make the difficult decision to cut down on staff and this allowed us to hire workers at lower rates.

Entrepreneur 114

Entrepreneur Metrics Technical Review North America 114

OnlyOnce

AUGUST 3, 2023

(Post 1 of 4 in the series of Scaling CPO’s) In most startups, the HR function starts out as tactical, because you have to get people hired and paid, and while you might have a founder or early-stage employee who can do these things, often these tasks are frequently outsourced to a PEO. But those things won’t help you scale.

Hiring 62

Hiring Metrics Leadership Early Stage 62

YoungUpstarts

FEBRUARY 13, 2019

by Robbie Kellman Baxter, author of “ The Membership Economy: Find Your Super Users, Master the Forever Transaction, and Build Recurring Revenue “ Everyone knows that retention is crucial for subscription-based companies. Blue Apron is hardly alone with its churn problem.

Customer 173

Customer Technical Review Retention Acquisition 173

ConversionXL

JUNE 3, 2019

Has your company’s customer retention rate increased, decreased, or maintained the status quo over the past five years? Are you actively working on retention? Have you outlined and initiated a formal customer retention strategy? Make your retention strategy personal. Opinions don’t get people back. Email performance.

Retention 82

Retention Developer Customer Programming 82

A Smart Bear: Startups and Marketing for Geeks

FEBRUARY 26, 2019

Instead, watch payback period for acquisition efficiency, watch retention for product/market fit, watch expansion revenue for long-term growth, and watch gross margin for long-term profitability. There isn’t one most important SaaS metric. Either you haven’t hired great talent, or you have but you’re disempowering them.

Restful 202

Restful Founder Revenue Acquisition 202

ConversionXL

SEPTEMBER 10, 2018

Growth killer #2: Different goals and metrics. The second thing that holds companies back: departments and vendors trying to grow a huge array of different goals and metrics: The SEO team may want to improve rankings and search engine traffic; The email agency may be looking to increase subscribers; and.

Metrics 132

Metrics Campaign Channel Advertising 132

ConversionXL

NOVEMBER 21, 2017

In a bit, I will explain what a vision document is, how to get value from it, and all the things it can do to ensure that you start with a proper hypothesis, success metrics that can actually be measured, and a solid plan for getting something valuable from each test. A good hypothesis informs good success metrics.

Metrics 114

Metrics Database Retention Hiring 114

Startup Lessons Learned

SEPTEMBER 22, 2008

Master of 500 Hats: Startup Metrics for Pirates (SeedCamp 2008, London) This presentation should be required reading for anyone creating a startup with an online service component. He also has a discussion of how your choice of business model determines which of these metric areas you want to focus on.

San Francisco 167

San Francisco CPA SEM CTO Hire 167

The Startup Magazine

MARCH 13, 2023

You’ll know when the store’s busiest days and peak hours are simply by looking through the metrics. You can also track and monitor other metrics like retail conversion rates, average transaction value, items per transaction, and a lot more. This data can be used to improve trading during busier times.

Metrics 124

Metrics Retention Hosting Employee 124

A Smart Bear: Startups and Marketing for Geeks

DECEMBER 16, 2014

Still… Now Slack has been valued at over a billion dollars, less than a year after launch, every month adding more than a million dollars of annual recurring revenue. What does it actually mean that metric X is better than average and metric Y is below? “It’s not fair,” we all said to ourselves.

Metrics 246

Metrics Early Stage Retention Revenue 246

Version One Ventures

DECEMBER 6, 2018

In other words, you should demonstrate that revenue and/or engagement are repeatable and achievable in a cost-effective manner, and not just a function of pent-up demand from a small segment of underserved customers that will dry up in the near future. . Retention rate: What percentage of users can you retain quarter over quarter?

Acquisition 150

Acquisition Distribution Metrics Retention 150

ConversionXL

JANUARY 12, 2021

We now live in The Retention Economy. . For too long businesses have focused on short term wins chasing revenue over long term value. As a result VC’s now value businesses based on customer retention rather than multiples of revenue. Because customer retention is a better way of working out the true value of a business.

Retention 71

Retention Atlanta Metrics Cofounder 71

ConversionXL

APRIL 18, 2017

If you have to sell them the idea that they should do CRO and that they should hire you, there’s way more friction. When running an optimization program, consider three metrics that contribute to success: The number of experiments you run. If leads come to you, then the sales call that follows is now about qualification.

Conversion 87

Conversion Framework Revenue Analytics 87

Both Sides of the Table

OCTOBER 10, 2011

But creating better visibility for investors of the profitability of each unit and accountability for bosses of each to perform well according to differnet metrics is a good & important idea. Or maybe they need to hire somebody with more gravitas / experience. No, probably not. Each mag has a different mix. Not possible.

Customer 287

Customer Technical Review Caching PR 287

Startup Professionals Musings

JUNE 8, 2019

For a successful launch and scalable growth, they need to establish many checkpoints, with metrics to assess their progress and alignment with the vision. Hire the best people and continually upgrade your team. Focus on existing customer retention and repeat business. Don’t let that communication fade post-launch.

Angel Investor 220

Angel Investor Equity Leadership Demand 220

crowdSPRING Blog

APRIL 5, 2013

Small Business Marketing Tip: Send Email Campaigns At Night To Increase Revenue | crowdSPRING Blog – [link]. Measuring What Matters: How To Pick A Good Metric – [link]. Why I No Longer Advise Startups to Hire M.B.A.s | The Accelerators-WSJ – [link]. Top 6 Crowdsourcing Websites | ichitect – [link].

Social Media 92

Social Media Small Business Design Media 92

ReadWriteStart

AUGUST 26, 2022

Good CEOs will look inside and say: “Hey, maybe we’ve been hiring a little bit too much during the sugar rush phase of the pandemic, and what does that mean for performance management? Can we squeeze out more from folks that we’ve hired, and are there things that maybe we have completely neglected? Have we become soft?

Partner 132

Partner Cofounder Retention Acquisition 132

Austin Startup

JULY 2, 2021

Chargify’s new BI tool has taken our speed-to-calculate and accuracy of MRR and financial metrics and reduced it down to a mere dashboard refresh with 100% accuracy,” said Jenny Leman, President of CareerPlug. About CareerPlug Since 2007 CareerPlug has worked to make hiring easier for over 12,000 growing companies in the U.S.

San Antonio 67

San Antonio B2B Texas Ireland 67

ConversionXL

JULY 21, 2022

How did Outreach grow in just a few years to 50,000 monthly active users , $10 million in new bookings, and net revenue retention (NRR) of more than 140%? By focusing intently on a single measurement, known as a north star metric. Apply these lessons to align your teams and drive revenue growth. Customer-centricity.

Metrics 120

Metrics Acquisition Revenue .Net 120

View from Seed

OCTOBER 15, 2014

Team: Hires, fires, departures, responsibility changes, major promotions, and your org chart. Hiring is also essential and may appear regularly, though it will fluctuate in volume and urgency. A seed-stage mobile startup’s housekeeping section might look something like this: Section 3: Core Metrics.

Seed Stage 331

Seed Stage Cap Table Metrics Burn Rate 331

Occam's Razor

MAY 2, 2017

There is no golden metric for everyone, we are all unique snowflakes! :). and tell you what are the best key performance indicators (metrics) for them. In the past I’ve shared a cluster of metrics that small, medium and large businesses can use as a springboard…. Every ecommerce site has to obsess about Revenue.

Metrics 141

Metrics Acquisition eCommerce Analytics 141

Startup Lessons Learned

APRIL 14, 2009

Lessons Learned by Eric Ries Tuesday, April 14, 2009 Validated learning about customers Would you rather have $30,000 or $1 million in revenues for your startup? All things being equal, of course, you’d rather have more revenue rather than less. And yet revenue alone is not a sufficient goal. More on that in a moment.

Customer 167

Customer San Francisco Lean Hockey Stick 167

Both Sides of the Table

FEBRUARY 20, 2017

You can often measure how many deals were achieved but there often doesn’t flow a steady stream of revenues / profits from these deals. Vanity metrics will make you feel good about site traffic of SEO over conversion rate or purchases of your product will get more attention than retention. Efficiency can be an addictive drug.

Cofounder 164

Cofounder Retention PR SEO 164

ConversionXL

SEPTEMBER 28, 2017

It’s easy to get lost down the rabbit hole of metrics for your business. When it comes to getting the most out of your website performance, only certain metrics are what you can consider key performance indicators. For websites, this can include “sales volume,” “number of visits,” “average cart value,” and a variety of other metrics.

Metrics 121

Metrics Acquisition Conversion Revenue 121

Startup Lessons Learned

JANUARY 2, 2009

We were even more embarrassed by the pathetically small number of customers we had, and the pathetically low amount of revenue we had earned so far. We’d always cringe as we admitted that, no, we really only had a few thousand customers and a few thousand dollars in monthly revenue. Retention cohort analysis.

San Francisco 60

San Francisco Tampa Continuous Deployment Lean 60

Austin Startup

FEBRUARY 1, 2018

Product managers have the exciting responsibility of establishing the goals, roadmap and tracking metrics of their product (among many other duties), and also the less-glamorous but equally-important task of taking care of all the blocking and tackling required?—?from from administration to politik? I learned that software engineers?—?or

Management 85

Management Product Technical Review Software Review 85

ConversionXL

MARCH 29, 2017

Make sure you have a good understanding of your value proposition, cost structure, revenue streams, customer segments, etc. For example, in a year, do you think you can increase your retention by 30%? So, to run with what Drew teaches, you could set three key results that, when multiplied together, would double your revenue.

Marketing 48

Marketing Distribution Retention eCommerce 48

Occam's Razor

SEPTEMBER 15, 2014

They will need two different implementations, it is quite likely that you will end up with two sets of metrics (more people focused for mobile apps, more visit focused for sites). Mobile content consumption, behavior along key metrics (time, bounces etc.) If you have ecommerce you will see key metrics related to money making.

Analytics 141

Analytics Metrics Mobile DC 141

YoungUpstarts

OCTOBER 14, 2016

Millennial small business owners work long hours, but their dedication is paying off – 83 percent experienced growth in revenue for their business over the past year, compared to 70 percent of respondents across all age demographics. If you plan to hire employees, you will need to purchase workers’ compensation and unemployment insurance.

Small Business 100

Small Business Entrepreneur Social Media LLC 100

ConversionXL

JANUARY 8, 2018

You’re likely familiar with the different Growth frameworks like AARRR (Acquisition, Activation, Retention, Referral, Revenue). Usually the others are related to other marketing channels (paid/referrals) or one of the other parts of the funnel (retention/lifecycle). It all start with Acquisition. What should you be working on?

SEO 134

SEO Metrics Analytics Search 134

Duct Tape Marketing

JULY 26, 2023

03:41] Number 2: Revenue and profit. [04:07] So the next one of course is revenue and profit marketing is driving a lot of that, right? So is your revenue growing compared to, you know, performance maybe in the industry or you know, what about profit margin? We'll go beyond sales to retention referral. Is there a focus?

Marketing 57

Marketing Artificial Inteligence Retention Audio 57

Startup Lessons Learned

AUGUST 24, 2009

Despite all the energy invested in talking to authors about the size of their platform, very few gatekeepers have a rigorous set of metrics for measuring it. The problem is that there are no other metrics they can look at to judge the content of a book to know if it’s worth reviewing. What is the right revenue model?

San Francisco 113

San Francisco Lean Technical Review Distribution 113

Duct Tape Marketing

JULY 26, 2023

03:41] Number 2: Revenue and profit. [04:07] So the next one of course is revenue and profit marketing is driving a lot of that, right? So is your revenue growing compared to, you know, performance maybe in the industry or you know, what about profit margin? We'll go beyond sales to retention referral. Is there a focus?

Marketing 44

Marketing Artificial Inteligence Retention Audio 44

ConversionXL

APRIL 3, 2018

Amazon has hired more people for their Alexa division than Google has for the entire company – it’s not hunch, this is going to be the focus. Hire & fire – tools to do a job. mobile is ~50% of revenue, shorter form works better. Retention is the most important thing – if that’s poor, nothing else matters.

Retention 106

Retention Artificial Inteligence Channel Email 106