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Bussiness Metrics (Friday Training at Itnig)
 

Bussiness Metrics (Friday Training at Itnig)

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Interesting talk about hte main metrics in an ecommerce. Tips for web-based small business.

Interesting talk about hte main metrics in an ecommerce. Tips for web-based small business.

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Bussiness Metrics (Friday Training at Itnig) Bussiness Metrics (Friday Training at Itnig) Presentation Transcript

  • FRIDAY TRAININGS http://itnig.net/en/events SPONSORs twitter @itnigHASHTAG #ftrainings
  • Hi! I’m Bernat FarreroI work at Camaloon, the place where people create and order their custom productsAt Itnig, I join entrepreneurs in their hunt for a business model
  • truthsThe unspoken
  • UNCERTAINTYStartup is
  • Entrepreneur teams are NEWBIES
  • we reinvent wheels and by doing so, sometimes...We find out different ways to solve problems,new forms of value, new markets, new tools and that is our biggest competitive advantage The 12 monkeys paradox
  • Our lever of success is the framework we set forexperimentation the scientific method
  • In Lean Startup terminology We need to be flexible and agile
  • which basically means
  • Startups needcrossfunctional thinking.People working on features or campaigns must see and understand the big picture Set clear specific measurable goals for every taskexperiment and understand results, if you don’t... it’s waste All goals are ultimately business goals... otherwise they are waste To prevent waste, everyone should define and track a set of metrics for each experiment / task
  • So let’s focus on METRICS
  • zillions of users revenue clicks impressions page views pins fans followerslow bounce rateopen rate vanity metrics (for investors) vs actionable metrics (to understand your business)profit ctr transactionschurn reach LTVactivations conversion ratettpvirality coefficient
  • We’re doing GREAT!
  • Really?
  • AARRR!!!
  • Man, you better work on Revenue• Lead Generation, new users, optimize CAC• Improve Conversion Rate, reduce TTP• Increase Average Purchase Value (UP-Sell, CROSS-Sell)• Improve Retention, repeated purchases, better LTV• Improve Virality coefficient, or reach
  • Global business metrics (5-10) Revenue CAC Transactions Average Purchase ValueGeneral Conversion Rate LTV Time To Purchase Uniques Churn Virality CoefExperiment-based metrics (1-5)Specific Conversion RateFunnel Analysis Clicks Cohort Analysis Page bounce rate CPA Time from event to CTR CPC another Number of times something happen
  • A useful tool: Kissmetrics
  • A useful tool: Kissmetrics Action in our site We send an i.e. Product added to the cartsnippet EVENT &cookie It might include i.e. Quantity properties KM stores it Metrics | Reports All events are tight to each People
  • Metrics DashboarProperties and Segments Transactions
  • Funnel AnalysisAll relevant flows should have a funnel defined
  • Funnel Analysis
  • Cohort Analysis
  • Cohort Analysis
  • People Analysis
  • People Analysis
  • The messy LIVE tab
  • Don’t forget qualitative analysis
  • Inspectlet example
  • That’s allI hope you turn your life into a great EXPERIMENT Thanks for listening! @bernatfarrero