For growth marketing, success is in the numbers. And numbers don’t lie.

It is necessary to measure the right metrics to drive your business forward.

When you take advantage of growth marketing metrics, you gain actionable information that lets you make your marketing campaigns more efficient and level up your business. Click-through and conversion rates, customer lifetime value, and return on investment are the metrics that guide you on your path to success.

Let us find out the measurements that will guide your company to unmatched success. 

Here we go.

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Understanding Growth Marketing Metrics

Growth marketing metrics are a measuring tape to determine the performance of your business. They provide valuable insights into your revenue generation, customer acquisition, and customer retention success. Naturally, the criticality of these metrics will depend on your business's growth ambitions.

But one aspect is paramount when it comes to monitoring such figures: data reliability.

As businesses incorporate more applications and tools, they typically find themselves fighting to manage the spread and siloed data. You must have good data underpinning to obtain and consolidate customer data in real-time to counteract this.

By democratizing this information within your company, you enable everyone to have access to good metrics that drive your strategies forward.

Now, take a look at the key growth marketing metrics statistics you should know.

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Growth Marketing Metrics Statistics

It is crucial to familiarize yourself with a comprehensive range of statistics on growth marketing metrics to determine the key metric that should take precedence for your business.

Consider the following statistics and how they can benefit your business's growth and development based on what you desire.

• Search engines are responsible for driving around 68% of total website traffic.
• By creating superior content, you have the potential to boost your blog's traffic by an incredible 2,000%.
• On average, e-commerce websites experience a conversion rate of approximately 2-3%.
• As little as six hours per week dedicated to social media marketing has been found to result in increased traffic, according to 75% of marketers.
• Video content is shared 12 times as frequently as any other form of content.
• Companies that demonstrate exceptional customer experience achieve revenue growth that surpasses the market by four to eight percent.
• Customers who exhibit loyalty are significantly more inclined to repurchase, forgive shortcomings, refer others, and explore new offerings. They are 5X more likely to repurchase and five times more likely to forgive.

A significant majority, specifically 80%, of your future profits will be derived from a mere 20% of your current customers.

Why You Should Utilize Growth Marketing Metrics

Growth marketing metrics are the secret sauce for your budding startup's success. They go beyond the traditional marketing benchmarks of brand awareness and customer acquisition and explore activation, retention, revenue, and referral. For companies with limited time horizons, these metrics are crucial for achieving high results in a shorter timeframe.

With the strength of data, growth marketing metrics can propel your company's growth in several ways.

They help you pinpoint products that are growing the highest revenue, uncover channels that have unexplored potential, and get access to high-value customer segments that can fuel your success. These metrics also help you quantify the most successful campaigns with the highest ROI and reveal the number of lapsed or inactive customers you need to re-activate.

Growth marketing metrics offer a comprehensive overview of your business's well-being, highlighting both strengths and weaknesses. This crucial data lets you make informed decisions for your business's future direction. Let's now explore some key metrics that will fuel your growth and pave the way for a remarkable journey.

Revenue Metrics

When discussing growth, it’s natural to associate it with revenue. Revenue is the fuel that keeps the wheels turning in your business. It allows you to pay your hard-working employees, invest in exciting research and development initiatives, and explore new territories. Without a stream of revenue, your business will not survive. 

It is as straightforward as that.

However, when genuinely comprehending how your business earns its money, there is more to it than meets the eye. It is important to know various revenue metrics that can offer valuable insights into the "when" and "why" of your business's financial success. These metrics illuminate the timing and reasons behind your revenue generation. By paying attention to and analyzing these metrics, you gain a deeper understanding of how your business generates revenue and make informed decisions to drive further growth.

Net Revenue

Let's start by focusing on the top-tier element of your income statement: revenue. This money flows into your business within a defined timeframe, such as annually or quarterly. Revenue contains all the sales you make and the services you provide.

It's a metric deserving of your total attention, trust me. It is one of the fundamental objectives of growth marketing: boosting revenues and improving your business's bottom-line profitability on a regular basis.

Of course, profitability is the only thing left after you deduct all costs of operations from your revenues. Thus, revenue is an important element that drives your business's prosperity and health.

Annual Recurring Revenue (ARR)

Let’s take a look at a metric that is especially key and important to SaaS or subscription businesses: annual recurring revenue or ARR. ARR enables these businesses to estimate the expected annual revenue from subscriptions or contracts. When calculating ARR, revenue from a transaction, or a one-off payment or expenditure, is to be discounted, and only recurring sources will be measured.

Annual Recurring Revenue gives growth marketers information and predicts revenue growth for one year over one year. It will give marketers a sense of how the revenue of the entire business is performing so they can develop their ongoing strategies. 

For example, growth marketers can help guide measures by tracking this metric, potentially leading to changes in subscription tiers or other revenue-generating efficiencies.  By recognizing ARR as one of the key metrics that drive their decision-making, growth marketers can develop and implement strategies that positively impact revenue growth and help maintain this growth.

Utilizing ARR allows marketers to grow a SaaS or subscription-based business; it is a metric that provides knowledge and guides decision-making towards growth success.

Monthly Recurring Revenue (MRR)

Let's discuss another crucial metric similar to ARR. 

It is known as monthly recurring revenue (MRR) and is a game-changer, especially for businesses operating on a subscription-based model.

MRR helps businesses plan for the revenue they can expect in any particular month, including predictable revenue streams such as monthly recurring or membership fees. MRR has become the lifeblood of subscription-based businesses as it provides an up-to-date snapshot of the company's overall health. It helps businesses gauge customer retention, spot trends and patterns associated with both customer acquisition and churn, and gauge the lifetime value of customers.

By measuring MRR, businesses can identify patterns in month-to-month revenue trends, and this data can help them make more informed decisions regarding retaining current customers and identifying opportunities to upsell or cross-sell. MRR is like a compass for subscription-based businesses, giving you a general understanding of your business’s health, customer loyalty, and growth. It helps businesses identify patterns, anticipate customer behavior, and inform actionable strategies for maximizing revenue and planning for long-term growth.

Average Revenue Per User (ARPU)

The average revenue per user (ARPU) provides insights into the revenue generated per customer over a given period.

ARPU offers growth marketers a deeper understanding of their customer base, helping them determine if they're effectively targeting the right buyer personas. It also highlights opportunities for encouraging upgrades or add-ons from existing customers. By analyzing ARPU, growth marketers can gain valuable insights to refine their growth and customer retention strategies.

For instance, ARPU enables them to assess if the revenue generated per user meets their expectations and uncovers potential avenues to increase revenue from current customers. Understanding ARPU allows growth marketers to fine-tune their targeting strategies, attract suitable customers, and cultivate customer growth and loyalty.

Ultimately, ARPU provides growth marketers with a personalized view of customer revenue, guiding them in making informed decisions to optimize targeting, boost revenue, and strengthen customer relationships.

Return On Investment (ROI)

Return on investment (ROI) is like a compass that guides your marketing campaigns toward profitability. ROI calculates the overall profit generated by marketing efforts.

It's like breaking down a big pie into smaller slices to see which ones bring you the most value. However, a low ROI does not point fingers at a single marketing team or problem. It is more of a general health check for your marketing, indicating whether your current campaigns fuel your business's growth. 

A prevalent issue resulting in low ROI is placing too much dependence on paid lead generation methods.  This can create a more expensive method to obtain new customers, which makes it even more difficult to get the expected return on investment. 

Customer Lifetime Value (CLV)

Customer lifetime value (CLV) represents the total value a customer will bring to your business throughout their entire experience.  It is an important metric to consider when determining the longevity of customer relationships and where you can improve upon their retention and revenue. To calculate CLV, average revenue per customer is divided by the churn rate.  This information shows both profitability and the room you have to grow your customer base.

Acquisition Metrics

Tracking new customers and incoming business is essential to measuring your acquisition metrics. It is a clear indication of how you are expanding your customer base. You can expect increased profitability depending on your ability to retain those customers. It would help if you remembered some important metrics to improve your growth strategies regarding customer acquisition. 

Customer Acquisition Cost (CAC)

Have you ever wondered what it would cost to acquire a new client? That's where customer acquisition cost (CAC) comes into play. It is a metric that helps businesses determine the amount of money they need to invest in marketing and sales to acquire a single customer. 

To calculate CAC, you divide the total cost of these efforts by the number of new customers gained within a specific period.

Although customer acquisition is significantly more costly than customer retention, the likelihood of selling to a new client is relatively low, typically ranging from 5% to 20%. On the other hand, existing customers present a significantly higher probability of making a purchase, ranging between 60% and 70%.

By analyzing CAC, growth marketers can understand which channels effectively engage customers and which buyer personas are most responsive. Then they can refine their strategies to reduce overall acquisition costs and generate more revenue.

CAC helps you make informed decisions on where to spend your resources and how to optimize your marketing and sales efforts. Finding innovative ways to lower customer acquisition costs can drive growth, maximize return on investment, and boost your bottom line.

Conversion Rate

Have you ever wondered how many website visitors take action? 

That is where conversion rates come into play. The conversion rate tracks the proportion of website visitors who complete a desired action per the business's objectives.

This step could range from a sign-up demo to purchasing or downloading a one-time asset. Increasing conversion rates ranks high among growth marketing priorities. It should be pointed out that although the average website conversion rate across all industries is approximately 2.58%, individual industries exhibit different performance levels.

Some industries may experience higher conversion rates, surpassing the average, while others may face lower rates. For example, the top-performing websites achieve an impressive conversion rate of 11.45%. 

This metric will be a valuable guide as growth marketers consider everything possible to spark engagement via all forms of engagement. Growth marketers look at every possible way to improve the customer journey - from improving the user experience with an intuitive interface to enticing users with personalized rewards and incentives. The goal is to attract as many visitors as possible to convert them into valuable customers. Through constant monitoring and optimization of conversion rates, growth marketers can drive growth until the company's targets are achieved. 

In summary, conversion rates can provide a company with insight into how effective its website is at persuading visitors to take action. By consistently working to improve and testing different strategies, growth marketers can deliver an intuitive and seamless user experience that leads to increased conversions and ultimately, sustained growth.

Shopping Cart Abandonment Rate

Have you ever wondered why some people have items in their shopping carts but never complete the purchase? That is where the shopping cart abandonment rate comes into play. It is a metric for measuring the percentage of users who leave the checkout process without making a purchase compared to those who complete it.

This indicates that a number of potential customers leave their carts before completing their purchase. This abandonment rate is a critical metric for growth marketers. It reveals meaning in terms of user intent and provides actionable strategies. 

As growth marketers evaluate this information, they can generate effective strategies to retarget users who have expressed interest in specific products.

This might include personalized retargeting campaigns and incentivizing first-time customers with discounts or free shipping on orders over a certain value. Recovering lost shopping cart conversions provides businesses with improved customer experience, helps eliminate obstacles to purchase, and improves conversions. When businesses can remarket these customers and capture them, they can generate substantial conversions and revenue increases. 

In summary, the shopping cart abandonment rate is only one of the metrics that growth marketers will assess to improve customer experience and ultimately sales. Don’t forget to try and recover those lost customers.

Cost Per Click (CPC)

Want to know the cost per click on your ads? 

That's where the cost per click (CPC) metric is excellent. It tells you how much money you need to invest for each click your ads receive. CPC is an important metric for companies advertising through paid ads. By carefully analyzing your CPC, you can make evaluations of your ad campaigns.

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The following chart shows how much each industry spends on CPC on average:

Tracking your CPC lets you make informed decisions to optimize your ad spend. This means you can continually refine your targeting, fine-tune your ad copy, and adjust your bidding strategies to achieve a lower CPC and maximize the return on your advertising investment.

Monitoring your CPC is beneficial because it helps you understand the cost dynamics of your paid advertising efforts. This information allows you to make strategic adjustments, spend your advertising budget more effectively, and achieve meaningful engagement with your target audience at the most favorable cost.

By monitoring your CPC, you can gain precious insights and make data-driven decisions to optimize your paid advertising campaigns, drive more clicks, and ultimately achieve your marketing goals while staying within your budget.

Customer Metrics

It would be best to go beyond acquiring new customers to drive growth for your business.

Retaining the satisfaction and loyalty of your existing customers is equally important. Keep a close eye on some customer metrics to accomplish this. These metrics will help you understand and improve your customers' experiences, ultimately leading to long-term success and sustainable growth.

Activation Rate

The activation rate is crucial when introducing new users to a product or piece of software.

It measures how swiftly these users start benefiting from the product and utilizing its features in their daily activities. In other words, it measures how quickly they get up and running inside the platform and begin seeing its value firsthand.

Businesses can proactively identify low engagement among new customers by closely monitoring activation rates. This is significant because disengagement often acts as a precursor to churn. By understanding these aspects as soon as a user has stopped interacting, businesses can step in and keep customers racing for their spot with you.

The activation rate can indicate whether the onboarding process resulted in a good customer experience. It can also indicate what worked and what needs improvement. The result? Speed up the onboarding process to get your users to their "ah-ha" moment.

If businesses can get users through the onboarding process faster, they may start to see users uncovering value sooner. This creates a more enjoyable and rewarding experience.

Ultimately, understanding activation rates gives businesses the tools to improve onboarding, drive user adoption, and reduce the time it takes for their customers to realize their product's full value. This improves customer satisfaction and retention and paves the way for sustainable growth and success.

Retention Rate

Retaining customers is a key strategy for growing your business.

It would be best if you did not overlook it. That is where the retention rate comes into play. It tells you the percentage of clients who continue doing business with your brand over a specific period. 

Businesses across various industries retain approximately 75.5% of their customers.

Customer retention is about keeping subscribers active, encouraging them to return for repeat purchases, and maintaining their engagement with your offer. Increasing customer retention is necessary for sustainable growth. Let me tell you why. 

Firstly, by understanding why customers choose to stay with your brand, you gain insights into what sets you apart from the competition. 

Secondly, retaining existing customers is both good for your business and cost-effective. 

The CAC of a new customer can be significantly higher, ranging from 5 to 25 times more, compared to the expenses of retaining existing customers.

Sealing customer journey leaks enables you to make the fullest use of your growth potential and optimize your marketing efforts. By tracking your retention rate, you can develop targeted strategies to build relationships, enhance customer satisfaction, and generate long-term value.  

This fosters loyalty, drives repeat business, and ultimately fuels your business's growth in the long run.

Churn Rate 

Now, let's examine customer churn and its counterpart, customer retention. It measures the number of people who have left your business within a specific period. For growth marketers, minimizing churn is a top priority because, let's face it, sustainable growth is simply unattainable if you are losing more customers than you are retaining. 

Customer retention research reinforces the significance of the customer experience, as Kolsky's findings highlighted:

- 66% of buyers who switched brands did so because of poor service.

- 85% of customer churn from poor service could have been avoided.

- Simple company outreach could have prevented 11% of customer churn.

- Resolving customer issues during the initial engagement could prevent 67% of customer churn.

Businesses can decrease customer churn by replacing customer-centric plans with company-centric strategies.

While churn may seem like a setback, it carries a hidden advantage.

The causes of customer churn are a gold mine of information.

They might be able to identify pain points, such as a buggy UI or competitors offering a superior price point, among other examples. After these insights are gleaned, companies will be able to leverage this knowledge to build their product, enhance their customer experience, and develop their value proposition. If this pain is solved explicitly, it can aid in improving satisfaction and trust, as well as cut churn.

The beauty of churn lies in the opportunities it presents. It constantly reminds businesses to evaluate and refine their offerings. Growth marketers can actively modify their approaches by applying the insights gained from customer churn. By making churn reduction a central point, you can drive sustainable growth, retain valuable customers, and position your business for long-term success.

Signup Rate 

The signup rate is a crucial metric that indicates the percentage of visitors who sign up for your product or service. This is particularly valuable for companies that offer free trials or freemium business models since it tells you how well your signup is working. 

The signup rate can also help companies measure how well they are turning visitors into users and help businesses identify areas to improve to increase conversions. By monitoring signup rates, businesses can gauge how well they convert visitors into active users and identify areas for improvement.

To calculate the signup rate, divide the number of signups by the total number of visitors and multiply the result by 100. 

This formula provides an exact percentage that indicates the success of your signup process in enticing visitors to become engaged users.

Referral Rate

The referral rate indicates the percentage of fresh customers referred to your business by others. This metric is mandatory for evaluating the success of your word-of-mouth marketing endeavors and uncovering avenues to boost the number of referrals.

You can calculate the referral rate by dividing the number of referral-based new customers by the total number of new customers, and then multiplying the result by 100.

This will provide you with a sizeable percentage that demonstrates the contribution referrals make to your overall customer acquisition efforts.

By closely monitoring the referral rate, you can measure the effectiveness of your referral programs and identify opportunities to further enhance them. Encouraging satisfied customers to refer others can drive organic growth, establish a strong network of loyal brand advocates, and contribute to your business's overall success.

User Engagement

It is like the heartbeat of your business. 

It measures how frequently and deeply your customers interact with your product or service. Consider it a measurement of how well you deliver value and whether customers will stick around. It helps you understand how engaged your customer base is and identifies areas where you can optimize your offering to increase customer retention. User engagement is calculated by dividing active users by total registered users and multiplying by 100.

This gives you an exact measure of your users' engagement level.

Monitoring user engagement allows you to spot trends, patterns, and preferences. This information can help you make informed decisions to enhance the user experience, tailor your product or service to meet their needs, and build stronger customer relationships. Ultimately, higher user engagement leads to business growth and success.

Repeat Purchase

Imagine a group of customers who love your business so much that they keep returning for more. That is what we call repeat purchases. It measures the percentage of customers who buy from your business over time. By monitoring repeat purchases, you can gain valuable insight into how well your product or service delivers ongoing value to your users. It also helps you spot any areas that may need improvement. 

A study shows repeat purchasers spend 67% more on average order value after 30 months.

To calculate repeat purchases, divide the number of clients who make repeat purchases by the total number of clients.

Onboarding Completion Rate

Imagine a group of eager new users who have just joined your platform or service. It is time to ensure they have a smooth onboarding experience. That is where the onboarding completion rate comes into play. It helps you understand the percentage of prospects who complete the onboarding process after signing up. It measures the effectiveness of your onboarding process in successfully introducing users to your product or service and setting them on the path to a positive experience.

Optimizing your onboarding process can increase the likelihood of users becoming active and engaged, setting the stage for long-term success. To calculate this, divide the number of users who complete onboarding by the total number of signups and multiply the result by 100.

Net Promoter Score (NPS) 

It measures the probability of customers suggesting your offers to others on a scale of 0 to 10, providing valuable insights into customer satisfaction and loyalty.

This metric is crucial for measuring customer satisfaction and pinpointing areas for improvement. When customers rate their likelihood of recommending your brand, they are categorized as 

• Promoters (highly likely to recommend)
• Detractors (unlikely to refer)
• Passives (neutral)

Assigning a numerical score and collecting feedback provides valuable insights into your strengths and weaknesses.

Leveraging positive word-of-mouth and customer referrals is an impactful and cost-effective strategy for business growth.

Other Metrics

The above metrics can greatly measure your business's success, together or separately. The following metrics are equally important, but you can not tell which group of metrics they belong to.

Let's go through them.

Website Traffic 

Do you know how many people visit your website?

That is what web traffic is all about. It measures the number of visitors visiting your website within a specific time frame. This includes various traffic sources, such as those who find you through search engines, those clicking on your paid ads, and those coming from email, social media, or directly typing your website address.

Web traffic is an important indicator of your marketing campaign's success or failure. 

However, it depends on how well you target your audience. Let's say you have a high-traffic website but are not seeing a significant lead increase for your sales team. It can be due to one of three potential problems:

1. Your current target audience may not be interested in what you offer.
2. Your website's content may not be compelling or valuable enough to engage visitors.
3. Your CTAs might be confusing or unclear, causing visitors to leave without taking any action.

To completely understand the impact of your marketing efforts, combine your web traffic data with other key metrics. This includes examining conversion rates, win rates, and customer acquisition costs (CAC). By analyzing these metrics together, you will get a more comprehensive view of your marketing performance and be able to make informed choices to optimize your campaigns.

Bounce Rate  

In today's digital world, it is a given that every business has an online presence. And I am sure your business is no exception! 

Your website is valuable for sharing information, attracting leads, making sales, and growing your email list. It is the central hub for boosting your conversions. Luckily, tools like Google Analytics make it easy to monitor your website's performance and track its activities. 

Here is the thing: you might have a decent number of visitors coming to your website, but that alone is not enough. The real challenge is retaining those visitors and keeping them engaged. That is where the bounce rate comes into play. 

By analyzing the bounce rate, you can know how long visitors typically stay on your website before leaving without further interaction or engagement or A lower bounce rate is a good sign, indicating that your website attracts and keeps visitors interested. When you get a high bounce rate, proactively reassess your approach and adjust your strategy.

This could mean optimizing your landing page, using catchier images, fine-tuning your website content, and making other improvements to ensure visitors stay and explore what you offer.

The Visitor-to-Lead Conversion Rate

The visitor-to-lead conversion rate is a valuable metric that measures how effectively your website attracts potential customers. It shows the percentage of visitors who take meaningful actions, like purchasing or contacting your sales team.

If this rate is low, your content is not hitting the mark. Your content might not address your audience's specific problems or provide clear instructions on what to do next. You can fix this easily by implementing proven tips and tricks in boosting conversion rates and by optimizing your website to be more lead-friendly.

Clickthrough Rate (CTR)

Clickthrough rate (CTR) is a metric that tells you how many people click on a specific link, like an advertisement, email, search result, or social media post, out of the total number of people who saw it. 

It is a way to measure the effectiveness of your content in capturing people's attention and getting them to take action.

CTR can be measured for each link and across different channels, and it is a key metric for growth marketers. The great thing is that improving your CTR is within your control. It all comes down to the quality of your copy and how well it connects with your audience. 

Cost Per Lead (CPL)

It gives you an idea of how much money you invest, on average, in bringing in a new sales lead. It considers the costs associated with clicks and gathering information from potential customers.

Like customer acquisition costs (CAC), you must keep your CPL as low as possible to maximize your marketing budget's effectiveness. If your CPL is higher than desired, it indicates the need to explore more cost-efficient channels or optimize your conversion rates for better results.

Upsell & Cross-Sell Rate  

The combined upsell and cross-sell rates measure how often your existing customers buy from your business. These additional sales are precious because they come at a minimal cost. You can calculate the upsell/cross-sell rates using the formula provided.

Tracking these rates is primarily the responsibility of customer retention and sales teams, but growth marketers should also pay attention to them. A high rate means higher profits for the company and strong selling points for your marketing team. This indicates a high Return On Investment (ROI) for your campaign and provides a larger budget for future sales efforts. On the other hand, a low rate suggests that most customers are not interested in purchasing additional or new offerings, which could be an early sign of dissatisfaction.

When you differentiate between upsells and cross-sells, you gain helpful insights to guide your marketing team's efforts. By understanding what aspects of your campaign drive increased spending on existing products or services vs. purchasing new ones, you can fine-tune your strategies for better results. This customer-centric analysis helps you cater to specific preferences, optimize marketing efforts, and boost revenue.

Marketing Qualified Leads (MQLs)

A lead is someone whose contact information you have, such as those who signed up for your newsletter, responded to a free resource, or requested a demo. But not all leads are ready to buy from you.

Marketing qualified leads (MQLs) are leads that meet your specific criteria for marketing. These criteria can be unique to your business, such as targeting companies with a certain revenue threshold, focusing on clients in a specific region, or working with companies of a certain size.

For example, an MQL is a leader who has shown interest in hearing from you and meets your criteria for potential collaboration. They might visit your website frequently, download free resources, or join specific programs. While they might not be ready to purchase immediately, they are more receptive to sales pitches because you have built trust with them.

Remember, the goal is to convert MQLs into sales-qualified leads (SQLs). Once you understand your MQL criteria, you can look for patterns and combine them into your sales system. 

Analyze your best customers by answering the following questions:

• How did they find you? 
• What pages did they visit? 
• What offers did they respond to?

By identifying the pages and offers that attract high-quality MQLs, you gain insights into why customers choose your business and what initially caught their attention. This information informs your future marketing campaigns, allowing you to optimize your strategies for better outcomes.

Sales Qualified Lead (SQL)

An SQL, which stands for Sales Qualified Lead, is a potential buyer ready to converse with your sales team. Before reaching this stage, your marketing team evaluates and qualifies them as legitimate leads. Simply put, an SQL is an MQL that has taken a sales-related action, such as scheduling a call or requesting a demo.

You must track SQLs and understand where they come from to assess the effectiveness of your marketing efforts. When a prospect takes a sales-related action, you should consider them activated.

The specific definition of activation may vary depending on your company. For example, activation could mean when a customer creates a profile and starts using a lower-cost software product. On the other hand, for a higher-priced item, activation may occur when an MQL expresses interest in speaking with the sales team, typically by requesting a demo.

You can use a simple metric called the activation rate to measure activation. Divide the active users by the total number of signups and multiply the result by 100.

A low activation rate indicates that your sales or onboarding process may be too complex or unclear for users. It could also suggest that customers start using your product but realize it is not the right fit for them, prompting a need for reassessment. In such cases, you must return to the basics, building awareness and attracting the right leads to improve your activation rate.

Close Sales 

You can easily calculate your closing rate by dividing the number of new customers you have acquired by the total number of sales-qualified leads (SQLs).

The closing rate is a crucial metric that connects with your other metrics, giving you insights into the quality of leads generated by your marketing efforts and their readiness for the sales process. 

It also helps you assess the efficiency and effectiveness of your sales team, ensuring you are on track to meet your business goals.

The "Truth North" Metric

What does this concept represent?

It refers to a Key Performance Indicator (KPI) or a set of metrics that serves as the ultimate goal or guiding principle for a business's growth efforts. It represents the desired outcome or target that the company aims to achieve. Consider the one thing you can measure to determine whether your business is thriving or struggling.

All your goals and metrics should ultimately contribute to the growth of your business.  Let's face it: if you're not growing, you're simply fading away. However, it is important to understand that certain metrics are crucial to track, while others may be more superficial and less impactful. It is also essential to forget about the misconception that growth marketing, with its experimental and agile nature, is all about chasing quick wins. 

In reality, the most successful growth marketers rely on data and constantly monitor the metrics that matter over extended periods to gain insights into what strategies are effective and which are not.

Evaluating Your Growth Marketing Metrics

Tracking multiple metrics can feel overwhelming, especially when just starting. That is why we recommend taking a step back and focusing on a specific goal. Let's say you're launching a campaign and need to define your goal. Think about the purpose of your campaign and how it aligns with your overall business objectives. Will it help drive growth and increase awareness? Once you have established a well-defined objective, you can then select the prominent metrics directly accountable for it.

It's critical to monitor the activity on your website and the number of applicable leads to enter your pipeline if your aim is to generate brand visibility. To make this easier, you may want to utilize one of the tools that has the marketing funnel in mind as a whole and allows you to select the most desirable KPI metric for your advertising campaigns. By zeroing in on the value and aligning with your goals, you have a clean and easy way to measure and optimize your marketing efforts.

Track Your Business Success with AI bees

Overall, gathering metrics relevant to growth marketing is important for any business. By reviewing these metrics, businesses can understand the engagement of their customer base, the effectiveness of their initiatives and marketing activities, and even identify areas for growth. 

By leveraging artificial intelligence, organizations can access enhanced effectiveness, customization, and financial success.

At AI bees, we offer a comprehensive suite of AI-powered tools and solutions that empower businesses to stay ahead in the competitive landscape. 

Schedule a demo with us today and start your journey toward business growth.

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