Startup Metrics for Pirates (Brazil, Nov 2011)

Startup Metrics For Pirates Startup Weekend Sao Paulo November 2011 - #SWSP Dave McClure @DaveMcClure http://www.500startups.com http://500hats.typepad.com http://slideshare.net/dmc500hats AARRR !

Dave McClure ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],GEEK, CODER, ENTREPRENEUR Blogger, Marketing, Angel/VC Investor

500 Startups Seed Fund & Accelerator (230+ companies, 10+ countries )

Topics ,[object Object],[object Object],[object Object],[object Object],[object Object]

Key Concepts ,[object Object],[object Object],[object Object],[object Object],[object Object]

Geek Renaissance ,[object Object],[object Object],[object Object],[object Object],[object Object]

Platforms 2.0 Search, Social, Mobile

What’s a Platform? Successful Platforms have 3 Things: 1) Features 2) Users 3) Money Users . . Money Features Growth Profit Profitable Growth Awesome

Distribution Platforms ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

DO Marketing! (It’s Not Evil ) ,[object Object],[object Object],[object Object],[object Object],[object Object]

Read Geoffrey Miller Sex + Evolution + Consumer Mktg = Awesome Sauce

More Great Shit. Psychology + Comics

[The Lean Startup] [Startup Metrics 4 Pirates ]

Just Gimme the GOOD Metrics. Users, Pages, Clicks, Emails, $$$...? ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],the good stuff.

The Lean Startup ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Discover Customers (Steve Blank, SteveBlank.com)

Iterate , Dammit. (Eric Ries, StartupLessonsLearned.com) LEARN BUILD MEASURE IDEAS CODE DATA

Product/Market Fit b4 “Launch” (Sean Ellis, Startup-Marketing.com) Startup-Marketing.com

AARRR! : 5-Step Startup Metrics Model Website.com R evenue $$$ Biz Dev Ads, Lead Gen, Subscriptions, ECommerce A CQUISITION SEO SEM Apps & Widgets Affiliates Email PR Biz Dev Campaigns, Contests Direct, Tel, TV Social Networks Blogs Domains R etention Emails & Alerts System Events & Time-based Features Blogs, RSS, News Feeds

Startup Metrics for Pirates ,[object Object],[object Object],[object Object],[object Object],[object Object],(note: If you ’re in a hurry, Google “Startup Metrics” & watch 5m video) AARRR !

One Step at a Time. ,[object Object],[object Object],[object Object],“ You probably can’t save your Ass and your Face at the same time… choose carefully .” – DMC

Startup Challenges ,[object Object],[object Object],[object Object],[object Object],[object Object]

Role: Founder / CEO ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Optimize 4 Happiness (both User + Business) ,[object Object],[object Object],[object Object],[object Object],[object Object],$$$

What is Minimum Viable Product? ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Example Conversion Metrics (note: *not* actuals… your mileage may vary) Stage Conversion Status Conv. % Est. Value (*not* cost) Acquisition Visitors -> Site/Widget/Landing Page (2+ pages, 10+ sec, 1+ clicks = don’t abandon) 60% $.05 Activation “ Happy” 1 st Visit; Usage/Signup (clicks/time/pages, email/profile reg, feature usage) 15% $.25 Retention Users Come Back; Multiple Visits (1-3x visits/mo; email/feed open rate / CTR) 5% $1 Referral Users Refer Others (cust sat >=8; viral K factor > 1; ) 1% $5 Revenue Users Pay / Generate $$$ (first txn, break-even, target profitability) 2% $50

KILL A FEATURE. Something Sucks . Find It. KILL It. ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Role: Product / Eng / Design ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

What is Product/Market Fit? ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Better or Different . Funny! Shocking !!! Accepted Not Funny.

Discover Meaning Why Should Users CARE About Your Product? Kathy Sierra: “ Creating Passionate Users ”

Discover Meaning Keywords, Images, Call-to-Action ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

How 2 Tell if Design/UX is Good ?

Role: Marketing / Sales ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Example Marketing Channels ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

M AARRR keting Plan ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],ACQ = F(Customer, Campaign, Vol, Cost, Conv)

Choose Yer # WIN NING Metrics ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Startup 2.0: “Lean Investor” Model ,[object Object],[object Object],[object Object],[object Object]

Investment #1: Incubate ( “Product”) ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Investment #2: Seed ( “Market”) ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Investment #3: Venture ( “Revenue”) ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

[ Don ’t Pitch Me, Bro. ] Seriously : Don ’t. F*#king . Pitch Me. (and don ’t email me either, cuz i won’t read it)

Don ’t Pitch Me, Bro. ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],Email B E D Y 

Links & Resources ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Website.com ,[object Object],[object Object],[object Object],[object Object],[object Object],do LOTS of landing page & A/B tests – make lots of dumb guesses & iterate FAST Activation SEO SEM Apps & Widgets Affiliates Email PR Biz Dev Campaigns, Contests Direct, Tel, TV Social Networks Blogs Domains

Activation What do users do on their first visit? ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Activation What do users do on their first visit? ,[object Object],[object Object],[object Object],[object Object]

Activation ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Website.com ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],Retention SEO SEM Apps & Widgets Affiliates Email PR Biz Dev Campaigns, Contests Direct, Tel, TV Social Networks Blogs Domains Emails & Alerts System Events & Time-based Features Blogs, RSS, News Feeds

[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],Retention How do users come back? How often?

[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],Retention How do users come back? How often?

Retention How do users come back? How often? ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Retention ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Website.com ,[object Object],[object Object],[object Object],[object Object],Acquisition SEO SEM Apps & Widgets Affiliates Email PR Biz Dev Campaigns, Contests Direct, Tel, TV Social Networks Blogs Domains

Acquisition Where are users coming from? ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Acquisition Keyword Vocabulary ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Acquisition Where are users coming from? ,[object Object],[object Object],[object Object],[object Object],Example

Acquisition ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Website.com Focus on driving referrals * after * users have a “ happy ” experience; avg score >= 8 out of 10 Referral Acquisition SEO SEM Apps & Widgets Affiliates Email PR Biz Dev Campaigns, Contests Direct, Tel, TV Social Networks Blogs Domains Retention Emails & Alerts System Events & Time-based Features Blogs, RSS, News Feeds

Referral How do users refer others? ,[object Object],[object Object],[object Object],[object Object],[object Object]

Referral Viral Growth Factor ,[object Object],[object Object],[object Object],[object Object],A viral growth factor > 1 means an exponential organic user acquisition.

Referral ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Website.com Revenue This is the part *you* still have to figure out… (we don ’t know jack about your business) R evenue $$$ Biz Dev Ads, Lead Gen, Subscriptions, ECommerce Acquisition SEO SEM Apps & Widgets Affiliates Email PR Biz Dev Campaigns, Contests Direct, Tel, TV Social Networks Blogs Domains Retention Emails & Alerts System Events & Time-based Features Blogs, RSS, News Feeds

Revenue How do you make money? ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Revenue ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Startup Metrics for Pirates (Brazil, Nov 2011)

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