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What key performance indicators do you use to track the project’s success?
Sales Volume: The amount of medical cannabis sold over a specific period. This primary indicator reflects the actual demand for the product and its commercial success.
Profitability: Gross and net profit, as well as the profit-to-cost ratio. This will show how effectively finances are managed.
Number of Sold NFTs: This reflects the interest of investors in the project and their willingness to fund it.
Customer Acquisition Cost (CAC): How much it costs to attract each new investor or customer.
Average Bill: The average amount a customer spends on a single purchase.
Purchase Frequency: How often customers return for repeat purchases.
Customer Retention: The percentage of customers who continue to make purchases or invest after their initial interaction.
Customer Reviews and Ratings: Positive and negative feedback, as well as the overall level of customer satisfaction.
Number of New Greenhouses and Sales Outlets: Reflects the pace of growth and scaling of the project.
Marketing Campaign Effectiveness: Tracking the return on investment in marketing, as well as conversion metrics of various marketing channels.
Investor Churn Rate: The number of investors who decide to leave the project.
Compliance with Legislation: Adherence to all norms and standards for growing medical cannabis, especially in different countries where the project plans to expand.
These KPIs will help the project team understand how successfully their business is developing, identify weaknesses, and determine which aspects need improvement or adjustment.