Dave McClure’s Pirate Metrics How do users ﬁnd you? ACQUISITIONDo users have a great ﬁrst experience? ACTIVATION Do users come back? RETENTION How do you make money? REVENUE Do users tell others? REFERRAL
REVISED 03 Focus on a single key metric, but always monitor the full customer lifecycle.
A/B Tests7-Day Course (A/B Test)300 Participants have run this experiment. Time Range: July 9, 2012 - July 13, 2012 Control Hypothesis A ? 651 participants (50%) 652 participants (50%) activated 35% 34% retention 31% 45% referred 19% 20% paid 2% 4%More data is needed to determine a winner.Hypothesis A is currently winning with a 44% improvement and a 80% chance to beat the baseline.
Standard Measure of Progress COHORT SPEED METRICS Rapid Hypotheses Formulation SPLIT LIFECYCLE LEARNING TESTING FOCUS MESSAGINGExperiments
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THANKS!For an extended version of this talk, visit:http://bit.ly/InnovationAccounting Lean Canvas Ash Maurya | Author, Running Lean | Founder, Spark59 | @ashmauryaLife is too short to build something nobody wants