How Do You Measure Business Success with KPIs

Business

Different business owners will have different definitions about what success really means for their businesses. However, there are some tangible ways that you can measure how healthy your business is. When you use these key performance indicators (KPIs) to guide your business tactics, you can see where you need improvement in your revenue stream. For example, the resolution rate shows how often a sales opportunity has been completed. This gives you information regarding the effectiveness of your sales and renewal team. What about your retention rate? What do you know about the success of your upsell and cross-sell tactics? Onboarding metrics help you to understand what’s getting in the way of new customers coming onboard with your business. The adoption rate gives you a picture of how involved clients become as they interact with your business. As you learn to implement these metrics in your business plan, you will have a clear picture of what you’re doing well and where you need to improve. The following infographic provides information about five vital KPIs for the revenue lifecycle of your business.

Essential KPIs for the Revenue Lifecycle

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