Which of these metrics matter most for your business, and how do you track them? Customer Lifetime Value (CLV), conversion rates, and pipeline velocity. Or something else? --- This post was migrated from connect.com and was originally published at an earlier date.
all are so important. to me it depends on where your business is. since i’m just started out, i’m focusing on conversion rates (getting page views and getting those views to becoming signups). --- This post was migrated from connect.com and was originally published at an earlier date.
Conor O Neill how are you measuring these metrics at OnSecurity? --- This post was migrated from connect.com and was originally published at an earlier date.
This is a great question, Victor Becerra ! I think that CLV is a metric that matters throughout the entire journey of your business. We all have things to learn/figure out as we are starting out so our CLV is likely to be quite low, relative to what is possible, when we start a business, especially a services business. The movement of your CLV can indicate that you are making your customers happier, that you have a solid market fit, and that you have learned how to price and to expand. Of course, you will want to track metrics related to those contributors to see where you can still move the needle. Pipeline velocity is an important indicator but I don’t think that we should always be trying to increase velocity just for the sake of doing so. For our business, accelerating could lead to problems down the line, since we sell large services packages. We also want to time out when deals land to ensure we are resourced for them. If we were a SaaS company then this would be different but for services, we don’t immediately think that increasing velocity is a good thing. --- This post was migrated from connect.com and was originally published at an earlier date.