We’ll focus on the first half of the definition that states “Growth marketing drives increased user engagement”. This statement is all about measurable results. In order to measure the results, we must first understand what KPIs and metrics we will use to gauge success. To say that growth marketers are numbers oriented is an understatement. Growth marketers are obsessed with metrics — they must look at deltas across time and cohorts to show growth in customer acquisition, customer retention, and customer win-backs.
How are we trending? What is our engagement looking like? How many users are we churning? How long does it take us to be profitable for each new user/customer? Am I really growing the business?
The metrics in this article will build the foundation for any Growth Marketer to be able to answer these questions. To provide order to the metrics, we will categorize the metrics through a simple series of lifecycle stages:
Activation – new prospects
Retention – drive incremental engagement and revenue from existing users/customers
Win-back – bringing churned users/customers back