How Do You Measure the Success of New Revenue Streams?
Measuring the success of new revenue streams involves several key performance metrics:
Revenue Growth: Track the increase in revenue directly attributable to the new stream. Customer Acquisition: Measure the number of new customers gained through the new revenue stream. Customer Retention: Assess how well you are retaining customers acquired through the new stream. Profit Margins: Calculate the profitability of the new revenue stream by comparing revenue to costs.