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[500DISTRO] The Only Metric That Matters
[500DISTRO] The Only Metric That Matters
[500DISTRO] The Only Metric That Matters
[500DISTRO] The Only Metric That Matters
[500DISTRO] The Only Metric That Matters
[500DISTRO] The Only Metric That Matters
[500DISTRO] The Only Metric That Matters
[500DISTRO] The Only Metric That Matters
[500DISTRO] The Only Metric That Matters
[500DISTRO] The Only Metric That Matters
[500DISTRO] The Only Metric That Matters
[500DISTRO] The Only Metric That Matters
[500DISTRO] The Only Metric That Matters
[500DISTRO] The Only Metric That Matters
[500DISTRO] The Only Metric That Matters
[500DISTRO] The Only Metric That Matters
[500DISTRO] The Only Metric That Matters
[500DISTRO] The Only Metric That Matters
[500DISTRO] The Only Metric That Matters
[500DISTRO] The Only Metric That Matters
[500DISTRO] The Only Metric That Matters
[500DISTRO] The Only Metric That Matters
[500DISTRO] The Only Metric That Matters
[500DISTRO] The Only Metric That Matters
[500DISTRO] The Only Metric That Matters
[500DISTRO] The Only Metric That Matters
[500DISTRO] The Only Metric That Matters
[500DISTRO] The Only Metric That Matters
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[500DISTRO] The Only Metric That Matters

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Josh Elman, Partner, Greylock Partners

Josh Elman, Partner, Greylock Partners

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  1. The only metric that matters Josh Elman @joshelman August 7, 2014
  2. Everybody starts at zero
  3. With a dream of making an impact
  4. But along the way, how do you know if it’s working?
  5. You have to track things somehow… but it can be overwhelming…
  6. Our D7 retention is 60%. D30 is 22%. 250 million PVs in the last 30 daysWe just topped 200,000 sign ups We have a 50% 
 DAU/MAU ratio We have over 1 million downloads Everybody has a data point
  7. But where do I start?
  8. ARE PEOPLE USING 
 YOUR PRODUCT? Just focus on one thing:
  9. Ok, but how can I tell? 1) Usage: Do they use your product how you expect? 
 Track: #users taking core actions each day ! 2) Cycle: Do they use it at the frequency you expect? Track: #users who visit at least N days in a week or month
 ! 3) Retention: Are they sticky? Will come back to this…
  10. LinkedIn Circa 2005 Usage: Find and be found ! Cycle: Find: 2-3x/week Track: #users who log in and search per day ! Be found: 1-2x/year(?) Track: response rate to InMail
  11. Yelp Usage: Find local businesses/ services. And review them. ! Cycle: Searchers: 2-3x/week Track: #users who search per day Reviewers: 1x/week(?) Track: #reviews / day
  12. Facebook Usage: Stay connected with friends ! Cycle: 2-3x/day Track: #users who log in and view News Feed
  13. Expedia Usage: Plan a great trip ! Cycle: 3-5x/year Track: #users who search per day
  14. ARE PEOPLE REALLY REALLY USING YOUR PRODUCT? So they may be using it once, but…
  15. Really really using? (aka “Core Users”) 1) Top of Mind: Do they come directly to your product vs referred by a link or special offer Track: % users with direct traffic / engagement ! 2) Recurring: Do they come back again and again Track: % users who return weekly/monthly ! 3) Referring: Do they share it with others? Track: k-factor, and % users who are referrers
  16. Step 1) Analyze month over month usage # days visited in month 1 %whovisitedNdaysinmonth2
  17. Step 2) Determine threshold for core 0%# 10%# 20%# 30%# 40%# 50%# 60%# 70%# 80%# 90%# 100%# 1# 2# 3# 4# 5# 6# 7# 8# 9# 10# 11# 12# 13# 14# 15# 16# 17# 18# 19# 20# 21# 22# 23# 24# 25# 26# 27# 28# 29# 30# 31# 32# Reten%on'Rate'based'on'#'%mes'used'in'month'1'
  18. Step 3) Understand activation buckets CORE CURIOUS NEW CASUAL COLD 20% 90% 40% 40% 40% 8% 50% 10% 95% 4% 1%
  19. Step 4a) Find out why — from your data Following more than 30 accounts 1/3 - mutual follows

 2/3 - one-way follows
  20. Step 4b) Find out why — call them!
  21. Cherish them. They are your super heroes
  22. I have a few core users. I want more!
  23. Problem 1: not enough people sign up
  24. Clone your core users 1) Word-of-mouth Virality: help your core users describe your product. Say it yourself to the press. Inception! ! 2) Demonstration Virality: have your core users share content and more from your product. Demonstrate their deep usage. ! 3) Infectious Virality: encourage users to bring their friends in so the experience is better for both. Incentives ok too!
  25. Problem 2: people sign up, 
no one
 
 sticks around
  26. Onboard users all the way to Core 1) Learn Flow: teach your users your product as they sign up. Take your time. They are there to learn. Don’t rush it. ! 2) Welcome Week: if users don’t do it the first day, nudge them to come back and keep going ! 3) Social Pressure: if friends are on the system, use them to welcome, teach, and connect with the new folks
  27. One metric to rule them all: HOW MANY PEOPLE ARE REALLY USING YOUR PRODUCT?
  28. The only metric that matters Josh Elman @joshelman August 7, 2014

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