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Jfdi 2013-product-development-metrics-130509031212-phpapp01
Jfdi 2013-product-development-metrics-130509031212-phpapp01
Jfdi 2013-product-development-metrics-130509031212-phpapp01
Jfdi 2013-product-development-metrics-130509031212-phpapp01
Jfdi 2013-product-development-metrics-130509031212-phpapp01
Jfdi 2013-product-development-metrics-130509031212-phpapp01
Jfdi 2013-product-development-metrics-130509031212-phpapp01
Jfdi 2013-product-development-metrics-130509031212-phpapp01
Jfdi 2013-product-development-metrics-130509031212-phpapp01
Jfdi 2013-product-development-metrics-130509031212-phpapp01
Jfdi 2013-product-development-metrics-130509031212-phpapp01
Jfdi 2013-product-development-metrics-130509031212-phpapp01
Jfdi 2013-product-development-metrics-130509031212-phpapp01
Jfdi 2013-product-development-metrics-130509031212-phpapp01
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Jfdi 2013-product-development-metrics-130509031212-phpapp01

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Some of the Slideshare presentations that I have uploaded were not created by me. They are all worth having a look at. I am Stephen Darori on Linkedin. If you think we have or could have some synergy …

Some of the Slideshare presentations that I have uploaded were not created by me. They are all worth having a look at. I am Stephen Darori on Linkedin. If you think we have or could have some synergy now or in the future.do Send me an invitation to connect on Linkedin

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  • 1. Lies, Damned Lies & Vanity Metrics A Simple Guide to Feedback, Analytics & Iteration in Product Development Bernard Leong 1
  • 2. “There are three kinds of lies: lies, damned lies & statistics.” - Mark Twain 2
  • 3. entrepreneur A good theoretical physicist is one who makes all the mistakes as quickly as possible. 3
  • 4. 4
  • 5. Feedback Generation • How do we collect and generate user feedback? • Qualitative: Surveys, Talk to customers, Create channels via social media (twitter/facebook). • Quantitative: Google Analytics, Mixpanel metrics. • User interface & experience testing: User education and perception of how product works. 5
  • 6. Feedback Maintenance • Qualitative - Break it into the following buckets: • • Spam/Troll & Insults - Ignore • “N>50” comments on a feature or users demanding for a feature - Ascertain whether people really want it and then act. “Blue Sky” or “N=1” comments in the form of “you should build this or that” - Think about it but don’t act Obviously, you need to find metrics to do that ... 6
  • 7. Avoid Vanity Metrics • • • • • • • • Number of hits. Number of page views. Number of visits. Number of unique visitors. Number of followers/friends/likes Time on site/number of pages. Emails collected Number of downloads 7
  • 8. Framework for User Growth 8
  • 9. Element Function Relevant Metrics Acquisition Generate attention through various means Traffic, Mentions, Cost per Clicks, Search Results, Cost of acquisition, Open Rate Activation Turn the resulting drive-by visitors into users who are enrolled Enrollments, signups, completed onboarding process, used the service at least once, subscriptions Retention Convince users to return repeatedly or exhibit stickiness behavior Engagement, time since last visit, daily & monthly active use, churns. Revenue Business outcomes depending on business model Customer lifetime value, conversion rate, shopping cart size & click thru revenue Referral Viral or word of mouth invitations to other users Invites sent, viral coefficient, viral cycle time. 9
  • 10. How to identify key metrics Acquisition How do users discover you? Activation Do users have a frictionless or seamless first experience? Retention Do users return? Revenue Do users want to pay you money? Referral Do users spread the word? 10
  • 11. Constructing a Funnel Internet Marketing - Google Ads 200K impressions = 20K click thrus (10%) How do users discover you? User Signups 20K click thrus = 2K signups (10%) Do users have a frictionless or seamless first experience? User create activity 2K signups = 200 users return with 5 actions (10%) Do users return? User pay for premium service = 20 users Do users want to pay you money? Users send invites to other users = 2 users Do users spread the word? 11
  • 12. Usability Test Source: Lean Analytics 12
  • 13. Case Study: SaaS services Figuring out the customer lifecycle and working out the metrics which you want to measure. 13
  • 14. References • Alistair Croll & Benjamin Yoskovitz, “Lean Analytics” • Jon Yongfook, “21 Actionable Growth Hacking Tactics”, http://yongfook.com/actionable-growthhacking-tactics.html • Ash Maurya: 3 Rules to actionable metrics in a lean startup: http://www.ashmaurya.com/ 2010/07/3-rules-to-actionable-metrics/ 14

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