Knowing the average value of your orders

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A business can make a lot of money by selling lots of cheap products.But keeping an eye on these metrics helps you identify which types of products you sell more of, which types of customers convert better, or which promotions are more successful at converting customers. also helps in making forecasts or estimates.For example, if you know that each customer spends an average of IDR 100,000, you know that you will need about 100 of them to generate IDR 10,000,000 in revenue.6. Customer Lifetime Value (Retention)This metric sounds more complicated than it actually is.

Customer Lifetime Value represents the total amount of revenue generated by a particular Belgium Mobile Number List customer over the span of their relationship with your company.If a customer signs up for a monthly subscription of IDR 50,000 and cancels after the third month, their Lifetime Value is IDR 150,000 (IDR 50,000 x 3)If a customer buys Product Z for IDR 100,000 in month 1 and ProductIf a customer buys a product for IDR 75,000, then asks for a refund and never returns, then their Lifetime Value is IDR 0.





Your goal is to increase customer Lifetime Value as much as possible.7. Churn (Retention)Subscription-based revenue models are becoming more popular every day.For those types of businesses, it is very important to track churn.Churn is a metric for the percentage of people who cancel a subscription during a certain time period.It is calculated as the number of people who canceled their subscription during a period, divided by the total number of subscribers at the start of that period.A high churn rate means you have to invest resources in retention — your job is to keep churn as low as possible.