What metrics matter to your business?
Help other indie hackers understand what metrics they could or should be monitoring to help their business keep on track.
What metrics have you found most useful for your business?
Help other indie hackers understand what metrics they could or should be monitoring to help their business keep on track.
What metrics have you found most useful for your business?
The leading indicator when building something new is referral. For example, if something is in private alpha and my alpha users are asking for their friends/colleagues to be invited, then I feel pretty positive. And if nobody is doing that, then I'm pretty sure that I haven't yet hit value.(Which doesn't mean I'm going to give up -- it just means I've still got some missing pieces to figure out.)
The business of course needs monthly profits, but that doesn't really inform my day-to-day decisions. Customer reviews also matter, but again, I don't really make day-to-day decisions based on them. After all, a big PR win will naturally bring in a larger volume of less targetting customers, so your rankings automatically go (slightly) down whenever exposure goes up. So I take that with a grain of salt, even if somebody really hates it and/or me (it may just not be for them).
I also like to keep having a couple customer conversations every week, even if a product has been out for ages and is largely stable. It's just a light weekly habit and doesn't really take any time, but I get lots of useful insights from that. It's much more useful for decision making than any of the numbers.
Great advice!
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I think just about everything trickles down from quality traffic (traffic being the most important metric).
More quality traffic means more sign-ups.
More sign-ups means more conversions.
More conversions means your business is growing.
Above traffic is how you get your traffic - my favorite is SEO, but paid ads work well too. Anything that is a "set it and forget it" automated way of getting profitable traffic is golden for a solo Indiehacker.
I wouldn't focus on social unless you've got awesome creative content talent and feel like spending a lot of time doing that.
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That's why I said "quality traffic". Whether or not it's a vanity metric, if you have no traffic your business doesn't grow (automatically).
Product is way more important than conversion optimizations. Conversion optimization is mostly a waste of time as long as you make your onboarding simple. If the product is good, people will go through just about anything to use it.
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Why disagree? My product has grown from $0 to $17k/month and I haven't changed the homepage since the first few months (two years ago).
If you look at the stats: https://jdnoc.com/open/ you can see that revenue & free trials are directly correlated with organic traffic (from targeted quality keywords).
The only thing that has changed in the last two years is a better product, and more traffic. The website is the same.
To prove it, here's the website in Aug. 2018: https://web.archive.org/web/20180802165643/https://closet.tools/
Here's the website today: https://closet.tools/
The only think that's changed is the buttons go directly to the extension (because when I started there wasn't an official extension).
Sure, not every business is like my business, and not all advice can be applied in every situation, but I have data to back up my claims.
Not trying to be confrontational, and you don't have to agree with me, but I am trying to help people. I want to give them advice that's actually going to help them (and not advice that's popular to give).
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I would like to see one of your real world examples.
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Why would I be trolling? I'm honestly curious. I can be convinced otherwise.
What metrics is Stripe already showing?
Cost of customer acquisition, churn rate, help desk/customer support tickets, ASO rankings, SEO; If subscription-based, average length of subscription and/or subscription renewals.