Lean Startup - Customer Development - Aarrr metrics

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Lean Startup - Customer Development - Aarrr metrics

  1. 1. How to catch the fishAnd learn how to improve your fishing power
  2. 2. WHY I AM HERETo kick your ass...
  3. 3. WHY I AM HERETime to wake up...
  4. 4. WHAT DO YOU REALLYKNOW ABOUT YOURREALITY?
  5. 5. THERE IS NO WAY BACK!
  6. 6. WHAT IS THE PROBLEM YOUARE TRYING TO SOLVE?
  7. 7. WHAT IS YOUR MOSTIMPORTANT CUSTOMERSEGMENT?
  8. 8. WHO IS YOUR BESTCUSTOMER?
  9. 9. WHY IS THIS YOUR BESTCUSTOMER?
  10. 10. HOW DO YOU (PLAN TO)MAKE YOUR MONEY?
  11. 11. HAVE YOU COLLABORATEDWITH YOUR (POTENTIAL)CUSTOMERS?
  12. 12. WHO TRIED THISBEFORE?
  13. 13. WHAT IS YOUR MOSTUSED FEATURE?
  14. 14. THERE IS NO WAY BACK!
  15. 15. YOU’RE DOING TOO MUCH
  16. 16. EVERY WEEKKILL A FEATURE
  17. 17. DON’T HANG ON TO THINGSTHAT YOU MIGHT BUILDSOMEDAY
  18. 18. CREATE HYPER FOCUS
  19. 19. TAKE OUT A FEATURE ANDMONITOR THE REACTIONS
  20. 20. Either they love it or hate it, all other reactions means you’re screwedOPTIMIZE FORHAPPINESS
  21. 21. Dave McClures’AARRR
  22. 22. Create different storylines for different combinationsNARRATIVE OF YOURPROCESS
  23. 23. Let’s take a look at this meta-frameworkEXAMPLES
  24. 24. #1 DOGGIECOLRSocial Network for Dog LoversMakes money through advertising and affiliate sales oflush dog collars.Key business driversAdvertising and affiliates need large traffic/page viewsso growth and retention are key.
  25. 25. ACQUISITION VISITACQUISITION SIGN-UPACTIVATION CREATE PROFILEACTIVATION POST PICTURES COMMENTREFERRAL SHARE PICTURES INVITE FRIENDSREVENUE BUY COLAR
  26. 26. #2 AGILESAMBAProject management tool for AgilestartupsMakes money through monthly subscriptions. Has a freetrial period.Key business driversConversion to paid users and cancellation rates.
  27. 27. ACQUISITION VISITACQUISITION SIGN-UPACTIVATION CREATE PROJECTREVENUE UPGRADES PAIDREVENUE CANCELS ACCOUNT
  28. 28. Let’s take a closer look at this meta-frameworkACQUISITION
  29. 29. ARE YOU FISHING IN THERIGHT POND?
  30. 30. HOW DO YOU GET NEWCUSTOMERS?
  31. 31. IS YOUR MESSAGEREACHING THE RIGHTPEOPLE?
  32. 32. ARE YOU FOCUSSING ONTHE RIGHT PEOPLE?
  33. 33. ACTIVATION
  34. 34. ARE YOU USING THERIGHT BAIT?
  35. 35. HOW DO YOU LANDPOTENTIAL CUSTOMERS?
  36. 36. IS YOUR MESSAGECLEAR?
  37. 37. ARE YOU HELPING YOURCUSTOMERS?
  38. 38. RETENTION
  39. 39. DO YOU USE THE RIGHTMATERIAL?
  40. 40. HOW DO YOU MAKECUSTOMERS STAY?
  41. 41. DO YOU OFFER THERIGHT EXPERIENCE?
  42. 42. DO YOU OFFER QUALITY?
  43. 43. REFERRAL
  44. 44. HOW DO YOUR FISHESLURE IN MORE FISHES?
  45. 45. HOW IMPORTANT ISWORD OF MOUTH?
  46. 46. HOW EASY IS IT FORCUSTOMERS TO SHARETHEIR EXPERIENCES?
  47. 47. REVENUE
  48. 48. SELLING YOUR FISH
  49. 49. HOW DO YOU (PLAN TO)MAKE YOUR MONEY?
  50. 50. ARE YOU CATCHING THERIGHT FISH?
  51. 51. TIME TO STARTMEASURING AND LEARN
  52. 52. Metrics that make you feel good but don’t tell anything…VANITY METRICS
  53. 53. 150 000 UsersNumerous superior competitors…WHAT WOULD INDICATESUCCES?
  54. 54. Let us examine Facebook…WHAT WOULD INDICATESUCCES?
  55. 55. Metrics that matter!• Value Hypothesis  How do we add more value to our cusotmers live?• Growth Hypothesis  Through what engine will we acquire new customers?
  56. 56. Metrics that matter!• Value Hypothesis  How do we add more value to our cusotmers live?• Growth Hypothesis  Through what engine will we acquire new customers?
  57. 57. Fact: New users are more engaged! Group users in month or week.COHORT
  58. 58. Let different groups of customers validate different new featuresA-B TESTING
  59. 59. Experiment, validate learning & change!RATE OF VALIDATEDLEARNING
  60. 60. Viral Coeff = Invites * Conversion Rate Examples: Facebook, Hotmail…Focus on Acquisition & Referral – Revenu is side effectVIRAL COEFFICIENT
  61. 61. LTV = Cost of Acquiring Customer / Earnings from that customer Examples: Amazon, Match.com…Focus on Activation & Retention – Payment is centralLIFETIME VALUE (LTV)
  62. 62. Recommended Software• Ubounce• KISS Metrics• Survey.io• Wufoo• LinkShiftr
  63. 63. WE DONT’T KNOWENOUGH!
  64. 64. WE’RE DOING TO MUCH!
  65. 65. AcquisitionActivationRetentionReferralRevenueWE CAN USE AARRR TOBUILD THE NARRATIVE OFYOUR STRATEGY!
  66. 66. WE SHOULD FOCUS ONREAL METRICS
  67. 67. JWE SHOULD GO OUT ANDCOLLABORATE WITH OURCUSTOMERS!
  68. 68. THERE IS NO WAY BACK!
  69. 69. Thank youSlidedeck by: Erik Talboom – Jurgen De Smet – Maarten Volders

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