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Lean Analytics: A short summary
 

Lean Analytics: A short summary

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I gave this presentation about the Lean Analytics book at the Lean Startup Meetup in Karlsruhe. ...

I gave this presentation about the Lean Analytics book at the Lean Startup Meetup in Karlsruhe.
Follow my blog for updates: http://jan-koenig.com/blog/
Or Twitter: https://twitter.com/einkoenig

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    Lean Analytics: A short summary Lean Analytics: A short summary Presentation Transcript

    • Jan König Lean Startup Meetup Karlsruhe@einkoenig 22.04.2013
    • source: O’Reilly
    • book contentadditional stuffgroup discussion?
    • Book Parts1 Stop Lying to Yourself2 Finding the Right Metric for the Right Time3 Lines in the Sand4 Putting Lean Analytics to Workwon’t be covered tonight
    • Stop Lyingto Yourself1
    • Data? Lean Startup?I just go with my gut feeling.(too) many people
    • watch it here: http://www.ted.com/talks/tali_sharot_the_optimism_bias.html
    • Follow the Lean model, and itbecomes increasingly hard to lie,especially to yourself.
    • Instincts are experiments.Data is proof.
    • Do hosts withprofessionalphotographyget more business?image by mark sebastian / flickr
    • Gut instinctProfessional photography helps Airbnb’s businessConcierge MVP20 photographers in the fieldTest resultsTwo to three times more bookings!
    • You are not building a product.You are building a tool to learnwhat product to build.
    • Finding theRight Metric2 for right now!
    • Good Metrics?image by kevin dooley / flickr
    • image by flopper/ flickrcomparativeimage by wikia.com
    • understandableimage by Jeff Kubina / flickr
    • rate or ratioimage by Gabe Photos / flickr
    • changes the way you behaveimage by will ockenden / flickr
    • image by 55Laney69 / flickrThe One Metric That Matters
    • 1 answers the most important question you have2 forces you to draw a line in the sand3 focuses the entire company4 inspires a culture of experimentation
    • Should you really focuson one metric?
    • Restaurant’s Effectiveness MetricsDelivery Usage Customer Satisfaction Possible InterpretationCrazy! Time to look at other metrics toimprove your business.Source: Klubeck, “Metrics”, page 149fGreat food and a loyal, but very smallcustomer base. Maybe a bad location.“The only game in town.” Or a productcustomers need but don’t want.OK, something is wrong here. Youknow that.with Triangulation
    • Restaurant’s Effectiveness MetricsCustomer Satisfaction Possible InterpretationgoodSource: Klubeck, “Metrics”, page 149fgoodbadbadwithout TriangulationDelivery Usage Customer Satisfaction Possible Interpretationfocus on
    • ratio =staff costsgross revenuesimage by Giorgio Montersino / flickr
    • What Business are you in?E-Commerce SaaS Free Mobile AppMedia SiteUser-GeneratedContentTwo-SidedMarketplaces
    • What Stage are you at?Empathy Stickiness ViralityRevenue Scale
    • What is your OMTM?
    • Lines inthe Sand3
    • One of the most challengingthings for a startup to do:find a relevant number againstwhich to compare yourself.
    • Some interesting bottom linesGrowth5% (revenue or active users)Engaged Visitors30% monthly users10% daily usersMailing List Effectiveness20-30% open rate5% click-throughs
    • image by Robert Scoble / flickrShould you ask forbilling information upfront?
    • Trial usersSubscribersChurn 1st perriodEnd to end2%50%up to 40%0.6%10%15%up to 20%1.2%
    • Questions?