Vanity VS Actionable Usually: “We have 5000 (Total Registered) Users…” But also numbers that relatestronger to your PR bumps than to your product core.“We have 5000 Visitors / Month” is in early stage usually not actionable.
problems in early stage: 1) external traﬃc messes up your insights 2) product is not ready for market communication, vp, market seg, channels, product - all is yet wrong. So how much does “10% improve really tell you” 3) small data pool of actually useable dataPhoto: Dstarg
Metrics are applied diﬀerently in early stages Discovery Validation Eﬃciency ScaleQualitative QuantitativeValidation Validation Source: Custdev.com
Early stage metrics are useable for: Validation of customer feedback - saying vs doing - did they really use the app? Validation of internal opinions - believing vs knowing - “Our users need/are/do/try…”Photo: dstarg
Example PhotoappAquisition - User registeredActivation - User took a photoRetention - Opened the app again <= 2pmReferral - Share a photo publiclyRevenue - haha
Example PhotoappAquisition - User registeredActivation - User took a photoRetention - Opened the app again <= 2pmReferral - Share a photo publiclyRevenue - hahaTo see progress over time we create groups of users(cohorts) and compare them.
In early stage focus on retention +activationAquisition - User registeredActivation - User took a photoRetention - Opened the app again <= 2pmReferral - Share a photo publiclyRevenue - haharead: http://www.ashmaurya.com/2010/07/3-rules-to-actionable-metrics/
Retention= people come again= people “do” again= people “buy” again read: http://danhilltech.tumblr.com/post/ 12509218078/startups-hacking-a-cohort- analysis-with-google
The process of user activationYour users that are happy and retentive:What action diﬀered them from your lost users?
Example: Twittersignup processHow many times do peopleneed to use Twitter to comeback next month?(7)What did they do?Magic number 30(Follow 20 people, followedback by 10)How do we get people to 30?Make assumptions, createfeatures and run tests!Watch: http://www.youtube.com/watch?v=L2snRPbhsF0
“If we have data, let’s look at data.If all we have are opinions, let’s go with mine.” -Jim Barksdale, former CEO of Netscape
TeamClear decision making hierarchyBroken code -> data not trustworthy -> trust lost -> datauselessImplement data thinking (especially in core dev team)New features need to have a goal. And this goal needs tobe represented by a KPIFocus on a simple and small set of KPIs, dont go crazy(example google analytics)in early stage not data driven but data validation
Read on!Startup metrics for Pirtates by Dace McClurehttp://www.slideshare.net/dmc500hats/startup-metrics-for-pirates-long-versionActionable Metrics by Ash Mauyrahttp://www.ashmaurya.com/2010/07/3-rules-to-actionable-metrics/Data Science Secrets by DJ Patil - LeWeb London 2012http://www.youtube.com/watch?v=L2snRPbhsF0Twitter sign up processhttp://www.lukew.com/ff/entry.asp?1128Lean startup metrics - @stueccleshttp://www.slideshare.net/stueccles/lean-startup-metricsCohorts in Google Analytics - @serenestudioshttp://danhilltech.tumblr.com/post/12509218078/startups-hacking-a-cohort-analysis-with-google