20 Key Performance Indicators Growing Businesses Should Track

Tracking key performance indicators (KPIs) is essential for any growing business. By tracking the right KPIs, businesses can gain valuable insights into their performance and make informed decisions about how to improve.

This blog post outlines 20 of the most important KPIs that growing businesses should track. These KPIs cover a range of areas, including sales, marketing, customer service, operations, and finances.

By tracking these KPIs, businesses can ensure that they are on track to achieve their goals and make the necessary adjustments to their strategies as needed.

Here are some of the KPIs that growing businesses should track:

• Sales:
  • New customer acquisition rate: This metric measures the number of new customers a business acquires over a period of time.
  • Customer retention rate: This metric measures the percentage of customers who continue to do business with a company over a period of time.
  • Average order value: This metric measures the average amount of money that a customer spends on each order.
• Marketing:
  • Website traffic: This metric measures the number of visitors to a company's website.
  • Lead generation rate: This metric measures the percentage of website visitors who become leads.
  • Conversion rate: This metric measures the percentage of leads that convert into customers.
• Customer service:
  • Customer satisfaction score: This metric measures how satisfied customers are with a company's products or services.
  • Net promoter score: This metric measures how likely customers are to recommend a company to others.
  • First-time resolution rate: This metric measures the percentage of customer issues that are resolved on the first contact.
• Operations:
  • Order fulfillment time: This metric measures the amount of time it takes to fulfill a customer order.
  • Inventory turnover rate: This metric measures how quickly a company sells its inventory.
  • Return on investment (ROI): This metric measures the financial return on a company's investments.
• Finances:
  • Gross profit margin: This metric measures the percentage of revenue that a company retains after paying for the cost of goods sold.
  • Operating profit margin: This metric measures the percentage of revenue that a company retains after paying for all of its operating expenses.
  • Net profit margin: This metric measures the percentage of revenue that a company retains after paying for all of its expenses.

These are just a few of the many KPIs that growing businesses should track. By tracking the right KPIs, businesses can gain valuable insights into their performance and make informed decisions about how to improve.

If you are a growing business, I encourage you to start tracking your KPIs today. It is one of the best ways to ensure your success.x