Fri, 7 January 2022
Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing.
Seed-stage startups have a few users trying out a beta product.
The startup is working on the go-to-market strategy and focusing on customer acquisition.
Key metrics to use are monthly unique users, monthly new leads, customer acquisition rate, and churn rate.
This measures basic customer acquisition.
To measure conversion, use the visit-to-lead rate and lead-to-customer conversion.
This shows the basic conversion rate for signing up customers.
To measure the effectiveness of marketing, use cost per lead, customer acquisition cost, and monthly recurring revenue.
This matches the cost of signing up a customer to the recurring revenue it generates.
To measure the usage rate, use the average use per user per month.
This shows the importance of the product to the users’ work.
In the early days of the startup, focus your metrics on customer acquisition rates, effectiveness of marketing, and customer engagement with the product.
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