Metrics: Lessons Learned - Killing your pre market product illusions
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Metrics: Lessons Learned - Killing your pre market product illusions

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The slides of the presentation i made on Seedcamp Day. ...

The slides of the presentation i made on Seedcamp Day.

It might not work as well without the stuff i said.

But to sum it up it was the lessons learned of my first weeks as product owner. And the question we are currently facing how to measure the correct metrics below to much dataschmutz.

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  • 1. MetricsLessONs LeArNeD Or KiLLiNG Pre-MArKetFit PrODUct iLLUsiONs @andreasklinger LOOKK | CONDÉ NAST | 10-14-2011 | 1
  • 2. ANDreAs KLiNGercO-FOUNDer & cWtFO LOOKK.cOM BAcKGrOUND iN sOciAL/ONLiNe LOOKK | CONDÉ NAST | 10-14-2011 | 2
  • 3. VP PrODUct siNce2,5 MONths MFP - Maria Francesca Pepe | Veleno | www.lookk.com/mfp-maria-francesca-pepe/veleno
  • 4. 4 Biggest (development) Problems we had/have: +1 ? OVer NO BLOcKeD UNcLeAreNGiNeereD DAtA PrOcesses User VALUe AND OVer DriVeN PrOPcONcePteD stArtUP sOLUtiON? (Pre-PMF) FeAtUres cULtUre KANBAN BOArD sOLUtiON? sOLUtiON? sOLUtiON? cUstDeV FeAtUre GOiNG MeNtAL +rOLLOUts iN ON Metrics. UserGrOUP A/B iN FB LOOKK | CONDÉ NAST | 10-14-2011 | 4
  • 5. 4 Biggest (development) Problems we had/have: +1 ? OVer NO BLOcKeD UNcLeAreNGiNeereD DAtA PrOcesses User VALUe AND OVer DriVeN PrOPcONcePteD stArtUP sOLUtiON? (Pre-PMF) FeAtUres cULtUre KANBAN BOArD sOLUtiON? sOLUtiON? sOLUtiON? cUstDeV FeAtUre GOiNG MeNtAL +rOLLOUts iN ON Metrics. UserGrOUP A/B iN FB LOOKK | CONDÉ NAST | 10-14-2011 | 5
  • 6. Metrics Mark Goldenberg | Woven Bird | www.lookk.com/mark-goldenberg/woven-bird
  • 7. stArtUP LOOKK | CONDÉ NAST | 10-14-2011 | 7
  • 8. stArtUPBeFOre PrODUct MArKet Fit LOOKK | CONDÉ NAST | 10-14-2011 | 8
  • 9. stArtUPBeFOre PrODUct MArKet Fit “BLUe OceAN” LOOKK | CONDÉ NAST | 10-14-2011 | 9
  • 10. stArtUPBeFOre PrODUct MArKet Fit “BLUe OceAN” ess M ADN LOOKK | CONDÉ NAST | 10-14-2011 | 10
  • 11. BUZZ is OK YOU?NUMBers Are OKFeeDBAcK is OK MeDiALiKes YOU LOOKK | CONDÉ NAST | 10-14-2011 | 11
  • 12. BUZZ is OK YOU? sOMethiNG is WrONGNUMBers Are OK trAFFic sPiKesFeeDBAcK is OK NO sticKYNess MeDiA PUshesLiKes YOU DON’t LiFt trAFFic LOOKK | CONDÉ NAST | 10-14-2011 | 12
  • 13. BUZZ is OK YOU? sOMethiNG is WrONGNUMBers Are OK trAFFic sPiKesFeeDBAcK is OK NO sticKYNess MeDiA PUshesLiKes YOU DON’t LiFt trAFFic VANitY WhAt ActiONs WOrK? LOOKK | CONDÉ NAST | 10-14-2011 | 13
  • 14. VANitY Metrics Always goes up. or by external factors than by internal. esPeciALLY: - registered Users - Facebook Fans But also: - Visitors / Month - Users / Month
  • 15. VANitY Metrics esPeciALLY: - registered Users Are usually controlled by external - Facebook Fans But also: tell you nothing about the health of your - Visitors / Month - Users / Month (exception: it might show that viral or product)
  • 16. eNGiNes OF GrOWth eric ries sticKY (retention) VirAL (referral) PAiD (works technically like viral)
  • 17. eNGiNes OF GrOWth eric ries sticKY (retention) VirAL (referral) PAiD (works technically like viral)
  • 18. eNGiNes OF GrOWth in Discover/Validation Focus on retention and Activation (in Validation/Growth Focus on revenue and referral)
  • 19. VANitY Metrics Pr resULts - created visits in Google Analytics - created userentries in Database - Disappeared. cOMPetitiONs - created visits in Google Analytics - created userentries in Database - Disappeared.
  • 20. VANitY Metrics Pr resULts - created visits in Google Analytics - created userentries in Database - Disappeared. cOMPetitiONs - created visits in Google Analytics - created userentries in Database - Disappeared. riLL DOWN D reMOV e the tO Act DAtA sc iON hMUtZ ABLe N UMBer s A ND Get
  • 21. DriLL DOWNMetrics
  • 22. ActiONABLe Metrics Where are your weaknesses? if it’s not a weaknessyou are working on the wrong thing.
  • 23. ActiONABLe Metrics Where are your weaknesses? if it’s not a weaknessyou are working on the wrong thing. start with the AArrr Funnel
  • 24. AArrreXAMPLe - LOOKKAcQUisitiON - User registeredActiVAtiON - User VotedreteNtiON - User Visited AgainreFerrAL - …reVeNUe - …
  • 25. AArrreXAMPLe - LOOKKAcQUisitiON - User registeredActiVAtiON - User Voted (eg 90%)reteNtiON - User Visited AgainreFerrAL - …reVeNUe - … ALL NUMBers LOOKeD OK. GOOGLe ANALYtics WAs ALsO Nice tO LOOK At.
  • 26. Metrics NeeD tO hUrt Lilach Eliyahu | Peek a Boo | www.lookk.com/lilach-eliyahu/peek-a-boo
  • 27. AArrreXAMPLe - LOOKKAcQUisitiON - User registeredActiVAtiON - User Voted (eg 90%) <- DriLLDOWN!reteNtiON - User Visited Again Analyse what it truely means to bereFerrAL - … retentive or activated on your website.reVeNUe - … eg. We changed activiation to “Users that voted for more than two designers” everybody else is just voting for a friend. Now: AArrrr = the PAiN the PAiN = ActiONABLe
  • 28. AArrr NeeDs tO hUrt AcQUisitiON You need a way to reach the user. (Dave is wrong ) ActiVAtiONthe User has seen the real core of your product and used it.(segment in user groups if multifaced) reteNtiON the user did an action that leads to value. (if possible close to money or coreaction) reFerrAL Not only shared but invited users came.
  • 29. ONLY LOOK At % Or . VALUes Lilach Eliyahu | Peek a Boo | www.lookk.com/lilach-eliyahu/peek-a-boo
  • 30. LessONs LeArNeD ignore everything you currently do not work on within your product. (too much data is bad for your eyes) eg. We ignore revenue atm.Look for the 4 values that can tell you about your state of your product. Only look at relative values displayed as % or . Do not lie to yourself. if you are Pre-PMF you suck. it’s all about iterative sucking less.
  • 31. tOOLs
  • 32. tOOLstL;Dr: All suck.
  • 33. tOOLstL;Dr: All suck.…but are useful for certain parts:
  • 34. tOOLstL;Dr: All suck.…but are useful for certain parts:Kissmetrics, Mixpanel = People AnalysisYour own Database = drilldownBe consistent throughout all tools:- Naming of goals- Logging and Naming of user types (eg. User, Designer, Admin, Visitor)
  • 35. tOOLsGoogleAnalytics - referrals - Optimize Online Marketing, - Bird eye view Website - suck for funnel analysis (no ad-hoc eg) - suck for consistancy (goals are easy to break) Don’t do funnel testing in GA - only track the last step Dashboards rock. Don’t go too crazy with customization Unfortunately single player only (yet)
  • 36. tOOLsKissMetrics - insights on conversions - Quick reports on features/pages - suck (yet) at dashboards Use it for funnel optimization. “View this people” feature is genius if you are a saas use it for everything ;) Don’t expect too much and also test mixpanel.
  • 37. tOOLsLOOKKButler - sQL = quick, tables = cheap - You can drilldown to your actionable KPis - Dashboards for team members - suck at bird-eye view, not ad- Questions: Who are the most popular designers if you only count people who vote for more than one designer? users?
  • 38. cOMPAre reteNtiON BehAViOrWeekly cohortsif you group them good for comparing behavioural patterns over time.eg. Visited Again
  • 39. cOMPArereteNtiON BehAViOr
  • 40. AArrr + WeeKLY cOhOrts iF BAseD ON reGistrAtiON WeeK hArD tO ActiON ON- Better: ActiON WeeK
  • 41. tAKe AWAYs:Use YOUr DB tO DriLLDOWN Be cONsisteNt BeYOND tOOLs FOcUs ON reteNtiON AND ActiVAtiON
  • 42. shAre YOUr LessONsLeArNeD.@andreasklinger MFP - Maria Francesca Pepe | Veleno | www.lookk.com/mfp-maria-francesca-pepe/veleno