We all have goals in mind for the year ahead, but how do you track your ability to achieve those goals? The answer: Key Performance Indicators (KPIs).
The challenge is figuring out what KPIs make sense for your business. One way to think about selecting the right KPIs is to draw an analogy to driving to see a good friend.
A map is an important KPI, especially if you’re trying to find the most efficient route and give your friend an accurate ETA.
Your car’s dashboard also contains several KPIs, including fuel, power, speed, and temperature gauges.
So how do these items translate to KPIs that help keep your business moving in the right direction to achieve your goals?
Maybe the dashboard for your business contains revenue growth, inventory levels, customer lifetime value (CLV), or operating margins.
At Concepts Rise, we help our clients determine the right KPIs to ensure businesses are moving in the right direction.
Please reach out if you’d like to discuss what KPIs make the most sense for your business. Also, please forward this email along to a friend or colleague if you think they’d like to sign up for this newsletter.
In the meantime, following are two articles on how to leverage CLV as a KPI.
At Concepts Rise, we advise our clients on how to increase their Customer Lifetime Values.
Unique perspective in Forbes on analyzing Customer Lifetime Value for improving sales growth.
To your success in the year ahead!
Majid
Majid Abai
Concepts Rise
Office: 424-320-0524
Email: majid.abai@ConceptsRise.com
Web: www.ConceptsRise.com