With the help of lagging indicators, you how to add taiwan number on whatsapp will be able to find out whether your steps were successful or unsuccessful. What indicator can be used in this situation? For example, annual income from repeat purchases.
Leading indicators help build tactics. At the same time, they should be easily measurable, which will allow you to build more accurate forecasts and select the most effective tactics.
Leading and lagging indicators
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What's interesting is that lagging indicators are based on a long-term strategy. And the small changes you make today may show up some time later. This is a kind of delayed effect of this tactic.
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Alexander Kuleshov
Alexander Kuleshov
General Director of Sales Generator LLC
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How to find out the 5 key marketing metrics in your company?
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Current template for calculating KPI for sales manager
9 Examples of Universal Selling Commercial Proposals
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A checklist of ready-made questions for engaging cold clients
7 Profitable Marketing Strategies Examples
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Product Metrics Categories
Categories are generally divided into five types:
acquisition – attraction;
activation – activation;
engagement – involvement;
retention – retention;
monetization - monetization.
We can say that these categories are presented as a complete life cycle for the user. But some of them can intersect with each other many times. We will explain to you in detail each stage of the product metric life cycle according to the list:
Acquisition metrics are the indicators of attraction . This includes new subscribers and customers. And they start to be counted after the first stage of sales. With the help of this type of data, it is easy to understand which channel works, which does not, and which of them brings more profit to the company.
Activation metrics – these are activation indicators . Here it is worth taking into account the initiation time and its coefficient. After analyzing this data, it will be possible to determine how well your strategy works and how quickly you manage to lead a person along the path from purchase to the so-called moment of enlightenment. At this moment, the consumer understands how valuable the product is in his hands.
Engagement metrics – engagement indicators. Here they count how often the audience and the product are touched, how many features you use, how much loyal, active audience you have. This often includes editing a profile or sharing songs. Daily increase in the number of users is very important for scaling any company. But here it is important to take into account that the counting must be done correctly.
Product Metrics Categories
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Retention metrics – retention indicators. Here they track the number of users who returned to the product, the number of free/budget ads and their conversion, retention and churn rates. But you need to understand that it is not so important how quickly buyers join you if they also actively leave.
Monetization metrics – monetization indicators. This category looks at profit factors, namely average revenue, net interest retention, and monthly recurring revenue. With their help, you can understand whether the company is effectively converting user interest into its own funds.
Each category tracks specific metrics and provides different data to companies, all of which are very important.