As an entrepreneur, you have been dreaming of growing your business since its inception. You want to spread the wings of your company and lift it to China Phone Number the heavens of happiness. But, as you already know, growing a business requires struggle and conflict and that too in the right way. Then, the question that arises is: “How do you know if you are leading your efforts in the right direction or not?” The best and most appropriate answer to this question is KPI measurement. Basic Success Indicators measure how well your business is progressing toward the goals.

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With the results, you can decide whether you should continue the existing efforts or discard them and try something new that will bring better results. For China Phone Number example, let’s say you want to reduce the employee absenteeism rate in your company. This is a common goal of all companies. After all, reducing employee turnover is tantamount to increasing productivity, hiring and morale. You try different strategies but in order to know which one is most effective you need to have something that provides a measure of success. That’s when there are KPIs related to employee absenteeism rates.

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Which doesn’t work and moves on to victory. Lifetime customer value as the name suggests is the amount a single customer spends on your company over the lifetime of your organization. This basic Performance indicator helps you identify how you are performing in the eyes of China Phone Number your customers. If your customers only shop once and don’t come back, then of course you’re not enough in one place when it comes to customer loyalty. However, if your customers are regularly shopping for you, you are obviously doing well when it comes to customer satisfaction and customer retention. Customer lifetime value is measured by the cost of customer acquisition.

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