How Can Entrepreneurs Measure Market Reach Success?
Measuring the success of market reach efforts is crucial for continuous improvement. Key metrics to track include:
Customer Acquisition Cost (CAC): The cost associated with acquiring a new customer. Customer Lifetime Value (CLV): The total revenue generated from a customer over their lifetime. Conversion Rate: The percentage of potential customers who take a desired action, such as making a purchase. Market Penetration Rate: The percentage of the target market that has purchased the product or service.