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Forecasting is sometimes done by dragging the mouse based on many assumptions, because it’s hard to predict the future. One question that keeps coming up when speaking with early stage entrepreneurs when it comes to funding, is what metrics the company needs to hit to raise seed/series A/B etc: What’s a good conversion rate?
Because of this, it’s critical to create a plan that includes a solid financial forecast. Retention plan. Subscription businesses will need the requisite subscription sales forecast as long as some key metrics that savvy investors will want to see. Subscription sales forecast. Churnrate.
Customer churnrate: shows the percentage of customers lost in a given period (e.g., Revenue growth rate: measures the month-over-month percentage increase in revenue and is the most common and important metric for startups. Employee satisfaction, engagement, and motivation are all tied to productivity and retention. .
What about stages three through seven, which can generally be grouped under the “ retention ” umbrella? We know how important and valuable retention is. We’re all familiar with the classic retention stats: Acquiring new customers is 5–25 times more expensive than retaining existing customers. Speed to first value experience.
However, we split the Advocate stage into Activation, Retention, Trials, and Paid phases that contain information about product usage and sales. The Retention stage. Retention shows how many people continue using our product regularly and remain as users. Other metrics to monitor.
What about stages three through seven, which can generally be grouped under the “ retention ” umbrella? We know how important and valuable retention is. We’re all familiar with the classic retention stats: Acquiring new customers is 5–25 times more expensive than retaining existing customers. How to master CRO for SaaS.
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