As a sales leader, measuring the success of your company is one of the most crucial aspects of your work. To do this, you’ll need to quantify success using key performance indicators (KPIs). The right metrics will help you determine which aspects are working, which areas can be improved and what you need to do to increase revenue. However, with a multitude of possible KPIs, how do you know which ones are most relevant to your business? You can read more in the Business Journals Leadership Trust article.
In the article, Edison’s CRO & Co-founder, Nick Stanitz-Harper provides expert advice on this topic with how monitoring customer lifetime value (CLV) KPIs can help with your bottom line — “In my experience, the KPI that most closely tracks customer engagement is customer lifetime value (CLV). Maintaining a good rapport with customers enhances the customer experience and it makes them happy. A happy customer often ensures long-term business in addition to building loyalty, trust and brand advocacy. This leads to more sales opportunities, revenue and profitability over time.”
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