Monitoring Revenue Metrics and Common KPIs
Hello! In this final section, we have an important topic to cover: monitoring revenue metrics and common KPIs in the context of finalizing the Lean Canvas for your project.
Why Monitoring Matters
In our previous sections, we delved into the world of financial indicators and how they can serve as Key Metric Elements. These indicators are crucial for:
- Setting goals
- Making comparisons with other organizations
- Evaluating how well our project is doing
Common Key Performance Indicators
Now, let's talk about some Common KPIs. These are the numbers and metrics that provide us with insights into how our project is performing. Whether your project is profit-oriented or not, these KPIs can be your guiding stars:
Customer Acquisition Cost (CAC) Measures how much it costs to acquire a new customer — including all marketing and sales expenses.
Customer Lifetime Value (CLV) Calculates the total value a customer brings throughout their entire relationship with your company.
Net Promoter Score (NPS) Reveals how satisfied and loyal your customers are by asking how likely they are to recommend you.
Website Traffic Indicates how many visitors your website attracts over a specific time period.
Conversion Rate Shows the percentage of website visitors who take specific actions — like making a purchase or filling out a form.
These five common KPIs work for many types of projects. In the next lesson, we'll learn how to select the right ones for your specific project.