Innovation Accounting in Practice
•
22 likes•2,970 views
Ash Maurya, Spark59, Innovation Accounting in Practice @ The Lean Startup Conference 12/3/12
Recommended
More Related Content
What's hot
What's hot (20)
Viewers also liked
Viewers also liked (20)
Similar to Innovation Accounting in Practice
Similar to Innovation Accounting in Practice (20)
More from Lean Startup Co.
More from Lean Startup Co. (20)
Innovation Accounting in Practice
- 1. INNOVATION ACCOUNTING A Spark59 Case-Study ASH MAURYA @ashmaurya ashmaurya.com spark59.com
- 2. In God we trust, all others bring data. -W. Edwards Deming
- 3. Startups don’t starve, they drown. -Shawn Carolan, Menlo Ventures
- 5. WTF What you wanted The reality
- 6. 01 Establish a standard measure of progress.
- 7. Financial accounting Innovation Accounting
- 8. Dave McClure’s Pirate Metrics How do users find you? ACQUISITION Do users have a great first experience? ACTIVATION Do users come back? RETENTION How do you make money? REVENUE Do users tell others? REFERRAL
- 9. 02 Measure everything as a cohort.
- 10. You cannot step in the same river twice. -Heraclitus
- 11. Signups
- 12. Signups Activation
- 13. Signups Activation Paid Conversion
- 14. Signups Activation Paid Conversion
- 15. Signups Activation Paid Conversion
- 18. 03 Focus on a single key metric.
- 19. 2%
- 20. 2%
- 22. 04 Build a continuous feedback loop with customers for rapid hypothesis generation.
- 26. 1. Too busy. 2. Need more information. 3. Just kicking tires.
- 27. 1. Too busy. 2. Need more information. 3. Just kicking tires.
- 29. Results?
- 31. Except...
- 35. REVISED 03 Focus on a single key metric, but always monitor the full customer lifecycle.
- 36. A/B Tests 7-Day Course (A/B Test) 300 Participants have run this experiment. Time Range: July 9, 2012 - July 13, 2012 Control Hypothesis A ? 651 participants (50%) 652 participants (50%) activated 35% 34% retention 31% 45% referred 19% 20% paid 2% 4% More data is needed to determine a winner. Hypothesis A is currently winning with a 44% improvement and a 80% chance to beat the baseline.
- 37. Lifecycle Messaging Day 1 Welcome + Week 1 Challenge Day 3 Educational Content #1 Day 5 Educational Content #2
- 38. Lifecycle Messaging Day 1 Welcome + Week 1 Challenge Day 3 Educational Content #1 Day 5 Educational Content #2 What happened #1 Help content Offer help Day 9 Check-in + Week 2 Challenge Day 14 Educational Content #3 Day 20 Educational Content #4 What happened #2 Help content Offer help Check-in + Week 4 challenge Day 24 + soft sell Day 29 Offer Bonus Extend trial Ask for feedback Offer incentive ...
- 39. 05 Metrics alone are not enough.
- 40. Standard Measure of Progress COHORT SPEED METRICS Rapid Hypotheses Formulation SPLIT LIFECYCLE LEARNING TESTING FOCUS MESSAGING Experiments
- 41. For an extended version of this talk, visit: http://bit.ly/InnovationAccounting
- 42. THANKS! For an extended version of this talk, visit: http://bit.ly/InnovationAccounting Lean Canvas Ash Maurya | Author, Running Lean | Founder, Spark59 | @ashmaurya Life is too short to build something nobody wants