A couple weeks ago, I wrote about users vs. customer experience, where I shared my thoughts about the importance of each, and discussed one of the ways we measure customer experience. It’s via a KPI we have called ‘app engagement’.

Well, that’s just one critical juncture in the customer journey, and we measure several KPIs to make sure we’re on the right track.

So the team has been working hard to nail these down, and I thought I’d share them with you. Maybe they can help you establish or rethink yours, or maybe you have an idea or two that you can take away!

Here we go, the following are the Key Performance Indicators for Dasheroo:

• Signup (SU) = a website signup for a Dasheroo account
• SU % = # SU/Users to our website and blog (note: we remove any Dasheroo account holders from our Google Analytics ‘User’ value)
• Connected users = SUs that connected 1+ Insights within 24 hours
• Connected % = Connected users/SU in that week
• Engaged users = Connected users that were active in their account in past 7-14-21-30-60 days (note: we measure engagement at multiple timeframes and also have cohort reports to pinpoint any big drop off points and to correlate activity with product releases)
• Engaged % = # Engaged users/# Connected users in past 60 days
• Disengaged users = Connected users not active in their account in 60 days
• Disengaged (or Free Churn) rate = # disengaged within 60 days / #of total connected at beginning of the that 60 day period (this could also be referred to as our ‘Freemium Churn’ rate; how many people did not see the value of our offering)
• FTC = # first time customers
• Average Revenue Per User (ARPU)= Monthly revenue/Total paid customers
• Monthly Recurring Revenue (MRR) = All paying customers * ARPU
• Churn = # Paid cancels in month
• Churn rate = Paid churn/total paying customers at the beginning of that month (note: you want to make sure not to include any new FTCs in that month)

Whew! Sure that’s a lot to measure but we feel, at least for now, that these accurately capture and gauge our performance in driving our users through the ‘conversion funnel’ from initial account signup to the holy grail: a paying customer.

And of course now we are developing custom insights for all of these to be shown and continually updated in our business dashboards.

How do you measure your business performance – have you established KPIs that help you identify where your strengths and weaknesses? Let me know!