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Ash Maurya Innovation Accounting - 2012 Lean Startup Conference
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Ash Maurya Innovation Accounting - 2012 Lean Startup Conference

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  • 1. INNOVATIONACCOUNTINGA Spark59 Case-Study ASH MAURYA @ashmaurya ashmaurya.com spark59.com
  • 2. In God we trust,all others bring data.-W. Edwards Deming
  • 3. Startups don’t starve,they drown.-Shawn Carolan, Menlo Ventures
  • 4. What you wanted
  • 5. WTFWhat you wanted The reality
  • 6. 01 Establish a standard measure of progress.
  • 7. Financial accounting Innovation Accounting
  • 8. 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
  • 9. 02 Measure everything as a cohort.
  • 10. You cannot step in thesame river twice.-Heraclitus
  • 11. Signups
  • 12. Signups Activation
  • 13. Signups Activation Paid Conversion
  • 14. Signups Activation Paid Conversion
  • 15. SignupsActivation Paid Conversion
  • 16. SignupsActivation Paid Conversion
  • 17. 03 Focus on a single key metric.
  • 18. 2%
  • 19. 2%
  • 20. 04 Build a continuous feedback loop with customers for rapid hypothesis generation.
  • 21. 1. Too busy.2. Need more information.3. Just kicking tires.
  • 22. 1. Too busy.2. Need more information.3. Just kicking tires.
  • 23. Results?
  • 24. No significant impact.
  • 25. Except...
  • 26. REVISED 03 Focus on a single key metric, but always monitor the full customer lifecycle.
  • 27. 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.
  • 28. Lifecycle MessagingDay 1 Welcome + Week 1 ChallengeDay 3 Educational Content #1Day 5 Educational Content #2
  • 29. Lifecycle MessagingDay 1 Welcome + Week 1 ChallengeDay 3 Educational Content #1Day 5 Educational Content #2 What happened #1 Help content Offer helpDay 9 Check-in + Week 2 ChallengeDay 14 Educational Content #3Day 20 Educational Content #4 What happened #2 Help content Offer help Check-in + Week 4 challengeDay 24 + soft sellDay 29 Offer Bonus Extend trial Ask for feedback Offer incentive ...
  • 30. 05 Metrics alone are not enough.
  • 31. Standard Measure of Progress COHORT SPEED METRICS Rapid Hypotheses Formulation SPLIT LIFECYCLE LEARNING TESTING FOCUS MESSAGINGExperiments
  • 32. For an extended version of this talk, visit:http://bit.ly/InnovationAccounting
  • 33. 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

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