Metric Selection for a Small Business Product
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Help me choose metrics for a small product or service. What I offer and how customers find and use it: [OFFER_AND_USAGE]. Tools I have (spreadsheet, payment platform, website analytics): [TOOLS]. Time I can spend each week: [TIME]. Recommend 5 metrics covering acquisition (visitors, leads), activation (first purchase or first use), retention (repeat purchase or renewal), revenue (average order value, revenue per customer), and satisfaction (a one-question survey). For each: formula, where to get the data, a simple weekly tracking table, and what a worrying change looks like. Show an example calculation with made-up numbers labeled as an example. Add a 15-minute weekly review routine with three questions, advice on what not to measure yet, and privacy cautions for analytics and customer data [VERIFY in [JURISDICTION]]. Provide the weekly tracking table with columns for week, visitors, leads, first purchases, repeat purchases, revenue, and a note, plus two worked formulas, such as conversion rate (first purchases divided by visitors) and repeat rate, with example numbers labelled as examples.
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