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Startup Saturday Delhi - Dr. Datalove
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Startup Saturday Delhi - Dr. Datalove

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Startup Saturday is held every other saturday at various locations, to help budding entrepreneurs with knowledge and in building "leverageable" networks. This time around, I was asked to present on …

Startup Saturday is held every other saturday at various locations, to help budding entrepreneurs with knowledge and in building "leverageable" networks. This time around, I was asked to present on Data Analytics. Assuming the predominance of web-based startups, I decided to present on the metrics that they can use

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  • 1. Who am I? पहचान - पत्र KARTHIK SRIDHAR @AntarYaami “CHIEF EVERYTHING OFFICER” “MANAGING SLAVE” WELCOME TO ##SSDel
  • 2. Dr. datalove OR HOW I STOPPED OBSESSING AND STARTED USING DATA
  • 3. What are we talking about? Key Startup Questions Startup Data Conundrum What Eric Ries Postulates Applying Dave McClure’s Framework Applying them on your business What is your Metric Maturity
  • 4. What is data obsession In March 2009, Doug Bowman, the lead designer of Google quit the company. He had this to say about Google’s approach to design: “When a company is filled with engineers, it turns to engineering to solve problems. Reduce each decision to a simple logic problem. Remove all subjectivity and just look at the data.” “…Google couldn’t decide between two blues, so they’re testing 41 shades between each blue to see which one performs better. I had a recent debate over whether a border should be 3, 4 or 5 pixels wide, and was asked to prove my case.”
  • 5. Google did this
  • 6. By the time they finished testing, this happened
  • 7. Key startup questions  Is my product / service addressing the market?  Am I measuring my performance well? i.e. Do I have the right metrics  Is there enough data that makes sense?  Are the data points in harmony?  Can I act on my data?  What do I do with the data I have?
  • 8. Startup data Conundrum Discovery Validation Efficiency Scale Product that Market Wants Optimize Product and Grow Market Product & Customer Development Scaling and Marketing The Conundrum Stuff we learn about Stuff we really need to know
  • 9. SOME KEY THINGS TO FOCUS ON  WHO SIGNED UP  Let go of hits clickthroughs, visits, facebook fans  Focus on who subscribed to your beta version  Or was smart enough to sign in through FB Oauth  Or has agreed to freemium version of your product  WHAT ARE THEY SAYING  Do you have a consumer discussion forum?  Are people willing to spare time and talk about your product?  Are you acting on what people are saying?  Do they genuinely like your stuff?  IS THAT WHAT I SET OUT TO DO?  Validate what they are saying with what you have done, or want to do?  Given them a “reason to believe” – it also helps your own self belief
  • 10. What eric ries postulates Vanity Metrics Actionable Metrics • No. of Hits to the page • Average time spent on site • No. of comments or CTR • No. of subscribers to newsletter • No. of Facebook fans • Cost of Acquiring customers • No. of paying customers • No. of paying customers retained - Churn • Lifetime Value of Customer • “Cohorts” or segments of customers – their actions show similar behavior Apply to “Frameworks”
  • 11. Applying dave mcclure’s framework  Everyone calls it the AARRR framework, I just added E Acquisition (User Registrations) Activation (User Votes and Feedback) Retention (Users Came Back) Referral (Users Brought Other Users) Revenue (Users Paid – again & again) EXCLAIM! (Communicated to All) Apply to Management, Product Development and Marketing
  • 12. 3 level application • Priority Setting • Key Metric Definition • Reporting Process Management • Use A/B Testing for Optimization & Features • SHIPPING THE PRODUCT • Testing adoption or conversion Product Development • Finding cohorts who can build a buzz • Search, Social and all other channels • Customer Lifecycle and Value Marketing
  • 13. What is your metric maturity  Infant: traffic, followers, subscribers, reviews, social media shares  Adolescent: # of sales, revenue, conversion rate, time on site, customer satisfaction  Mature: profit, retention length, churn rate, revenue per customer, costs of good sold, impact
  • 14. Thank you … and remember, too many metrics are bad for your brain
  • 15. Who am I? पहचान - पत्र KARTHIK SRIDHAR “CHIEF EVERYTHING OFFICER” “Managing Slave” Email: Karthik.Sridhar@clear-data.in LinkedIn: http://in.linkedin.com/in/karthiksridhar Twitter: @AntarYaami