Metrics, KPIs, and benchmarks are all vital to the success of an organization. Not only do they show you what’s working, but they also highlight areas that need immediate improvement.
However, with so many metrics out there, it can be difficult to know which are the most important to your business success. So, to help you narrow down your options, here are the top 5 metrics we believe you should prioritize tracking in 2021.
Customer Satisfaction Rate
While your customer retention rate can tell you a lot about the success of each team and department in your organization, it isn’t necessarily the most comprehensive. You might have a relatively high retention rate right now, but if your customers are frustrated with a certain aspect of your business operations, they might churn over the next few weeks or months. And once they’re gone, they’re gone.
On the other hand, measuring your customer satisfaction levels – or the overall level of happiness your shoppers feel when they come into contact with your products and customer service team – enables you to see both the past and present, and make predictions about the future.