If you want to offer a better user experience, it can be tempting to track each and every data point in your product. However, this can quickly get complicated and overwhelming as you collect more and more data. How do you know which metrics will help you improve? Kirui K. K., Co-founder & CEO Tanasuk Africa, wants you to know that analytics don't have to be complicated to make an impact - no matter the size of your company. Join him as he explains how to create a customer journey map, then use that map to figure out the metrics you need to know - and how to use them.

1. Make an Impact with Analytics and Journey
Maps
Kipkorir Kirui K. Hannah Flynn
With: Moderated by:
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Setting the Customer’s Journey
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2. Revulytics gives any software producers deep and actionable insight into
who is using their software products and how they are being used, and the
out-of-box analytics that enable them to grow incremental revenue, convert
and retain customers, and make decisions about licensing and cloud
transformation strategies.

3. Setting the Customer’s Journey
Webinar Series
Click on the Questions panel to
interact with the presenters
https://www.productmanagementtoday.com/webinar-series/setting-the-customer-s-journey/

4. About Kirui K. K.
Kirui is the Co-founder & CEO of Tanasuk Africa (dba iHub Consulting) - a design thinking and software consulting
firm working with organizations building products for African markets. He leads a talented team of design
thinkers, UX researchers, developers, and project managers working with startups, corporates, and NGOs across
Africa to help them realize the value of human-centered design as a problem-solving approach and to leverage
the power of technology to solve some of their most pressing problems. Kirui also co-founded Nairobi Design
Community (NDC), a a community of designers, product managers startup founders, and any other individuals
who have an interest in using design thinking methods to solve their day to day design challenges. Through
meetups and workshops, NDC shares best practices and tips on how to maximize the power of design thinking to
solve problems. Previously, kirui worked as the Head of Product at Eneza Education - a startup providing
affordable education to over 5 million learners across Africa.
About Hannah Flynn
Hannah went to The University of Chicago, where she majored in Environmental Studies with a concentration in
Economics and Policy. She now works with Aggregage on social media strategy and webinar production for Product
Management Today and B2B Marketing Zone.
Setting the Customer’s Journey
Webinar Series

5. 5
Setting the Customer’s Journey
Webinar Series
Agenda:
1. The case for product analytics
2. Demystify product analytics
3. Get you started with product analytics

6. 6
Setting the Customer’s Journey
Webinar Series
What we will cover
1. Why you should invest in product analytics
2. Misconceptions about data analytics
3. A framework for choosing product metrics
4. Overview of product analytics tools
5. How to make sense of your data

7. Case Study: Marks
Rate
Marks Rate is startup connecting
individual investors with SMEs
looking for LPO financing in
Kenya.
The team at Tanasuk Africa is
working on the digital platform &
it will go live in ~3 weeks

8. Before I continue, I would like to know the
type of audience- designer, product
manager, founder, developer?

9. THE CASE FOR PRODUCT
ANALYTICS

10. As entrepreneurs / innovators/designers, we
want to build products that will be used &
have an impact
Understanding how users are interacting
with our product is the best feedback we
can ever get

11. MISCONCEPTIONS ABOUT
DATA/PRODUCT ANALYTICS

12. MISCONCEPTIONS
● You need specialized resources to
do anything meaningful
● Qualitative data vs quantitative
data
● You need to track every metric to
understand your product
● Product analytic tools are
expensive

13. CHOOSING THE RIGHT METRICS

14. Poll: How many metrics do
you think one should track?

15. Getting it right is important
Potential challenges when identifying metrics:
● Vanity metrics vs actionable metrics
● Products can have very many points we can track
● The more data you collect the more work you have to do to make
sense of it
● Getting started can be daunting - starting simple is key
To simplify this & ensure we don’t get it wrong, we need a framework to
think through the process of identifying metrics. I use the Startup Pirate
Metrics (AARRR)

16. About Startup Pirate Metrics
● Developed by Dave McClure, notable VC and head of the accelerator
500 Startups
● Modeled around the typical customer journey
● AARRR - Acquisition, Activation, Retention, Referral, Revenue
● Doesn’t apply only to startups, anyone can apply the approach

17. Startup Pirate Metrics (AARRR)

18. Sounds fairly
straightforward but how do
you actually work with
this?

19. Remember Marks Rate?
● A platform connecting borrowers
and investors
● Has two key users - Borrowers,
Investors, and the Marks Rate
team as 3rd user
● Each user has a different journey
as they use the product
● For the purpose of this session
we will look at the investor’s
journey

20. Marks Rate Investor AARRR
Acquisition A potential investor hears about Marks Rate (ads, word of mouth
e.t.c) and is interested. They visit the site and successfully create
an account
Activation The investor reviews investing opportunities, picks one and puts
down a commitment to invest
Retention The investor keeps identifying and investing in more
opportunities on the platform
Referral The investor is happy about Marks Rate and refers it to other
potential investors
Revenue Marks Rate makes money from successful investments

21. This is still top level.
Customer Journey Maps
helps with the
identification of specific
metrics

22. Customer Journey Map
“A customer journey map is a visual representation of the process a
customer or prospect goes through to achieve a goal with your
company. With the help of a customer journey map, you can get a
sense of your customers' motivations -- their needs and pain
points.”

23. How to use the customer
journey map for metrics
This involves three easy steps:
1. Identify the different journeys different
users go through
○ For Marks Rate examples include
investor registration, investor
bidding, investor payout
2. Each journey has a series of steps from
start to completion. You map out the
steps
3. Identify metrics to track at each step in
the journey A sample customer journey template. For our exercise, we don’t
need to fill it out completely (Source)

24. Before we start
Two key types of metrics:
1. Direct metrics - direct data from customer interactions e.g # of
visitors
2. Derived metrics - based on a calculation from two or more metrics that
we are tracking e.g conversion rate
Both are important

25. Acquisition Journey for a Marks Rate Investor

26. Activation Journey for a Marks Rate Investor

27. Some typical metrics tracked
1. Acquisition — Customer Acquisition Cost (CAC), # of new users, Conversion
rate
2. Activation — average time to activate, activation rate
3. Retention — active users (Daily, Weekly, Monthly), D1, D7, D30 retention, churn,
stickiness (DAU/MAU)
4. Referral — referral rate, # of referrals, referral conversion rate
5. Revenue — average order size, repeat orders, revenue earned/day/month/year
For revenue, always split first-time revenue from recurring to understand your
growth engine

28. Important things to note
1. You will have to go through the above exercise for each user type and journey
they go through
2. Startup Pirate metrics will help you understand the different stages of your
product so use the approach. You can always do without it but it is better with
the approach
3. Don’t feel the pressure to have many metrics at each step in the journey
4. At the end of the exercise you will have a lot of metrics so you will still have to
cull and prioritize the ones that are crucial
5. Generally, derived metrics tell a better story than direct metrics

29. CHOOSING A PRODUCT
ANALYTICS TOOL

30. Key Considerations
1. How much are you willing to invest?
2. At what stage is your product? Pilot, growth?
3. What volume of traffic are you handling?
4. Is it a complementary tool or the sole tool?
5. Who will use the tool?

31. Let us apply this to Marks
Rate

32. Marks Rate
● How much are you willing to invest?
○ Marks Rate is a young startup with limited capital. A free tool is preferred
● At what stage is your product? Pilot, growth?
○ The web platform is in the pilot phase but the startup is not
● What volume of traffic are you handling?
○ Not significant enough as the target market is not a volume-based market

33. Marks Rate
● Is it a complementary tool or the sole tool?
○ It will complement Google Analytics
● Who will use the tool?
○ Everyone using the tool has limited tech knowledge and no
background in analytics

34. Marks Rate Requirements
For Marks Rate, the key requirements are:
● A free or very affordable tool because of budget constraints
● A tool that will provide insights with little or no customization after set up
● A tool that can be used by someone with little or no tech/analytics expertise

35. But first, please note that I
use a very unconventional
approach

36. Recommended Tool
What would I choose? I would choose a paid tool for Marks Rate

37. Justification for a paid tool
In choosing a paid tool, I made the following key calls:
● Most paid tools have a free tier
○ This fits within Marks Rate budgetary concerns as the amount of traffic on the
platform will probably not surpass the free tier
● Paid tools provide insights with limited customization
○ The Marks Rate team has limited tech and analytics expertise so it is important
that the tool requires little expertise
● Marks Rate are getting started on the analytics journey & have a lot to learn
○ Free tools require a significant time investment on customization in order to get
the right info. When starting out, you will spend way too much time doing this
○ By choosing a paid tool, the Marks Rate team can make changes faster and
learn what to track and what analysis to carry out without spending too much
time doing customization

38. What happens if Marks
Rate goes past the free
tier?
Poll: Move to a free tool or
stick to the current one?

39. Marks Rate Growth Options
When Marks Rate outgrows the free tier, they have several options:
1. Pay for the tool and continue using it
○ The assumption is that the team would have weighed the value of what they get
vs what they pay & it makes sense to pay
2. Ditch the paid tool and opt for a free one
○ By this point, Marks Rate have learned what they need to focus on and they set
up something similar to the paid tool
3. Combine elements of the paid tool with a free one
○ Send all data to the free tool and in addition use the paid tool for a specific
case. As an example, they might be struggling with Retention so they would use
the paid tool to track this
Is there a preferred way? No there isn’t; it varies from product to product

40. General Pointers when
Choosing a Tool

41. General Pointers
Each product has its unique needs but they are general tips that apply across board:
● Data is only useful if you can get actionable insights to the right person. The tool you
chose has to work for the people using it
● Experiment a lot before settling on a tool. It takes time but it is worth it
● Start small. Don’t fall into the trap of trying to capture everything all at once
● Periodically review if the tool is still a good fit for your product needs

42. MAKING SENSE OF YOUR DATA

43. Why is this important?
Data is only useful when it
can generate insights that
aid decision making

44. Getting Started
● Most off-the-shelf products will provide enough analysis and guidance to get you started
● However, you need to know what to look for to make the best of it
● It is important to understand where your product struggles the most so that you can focus
on that

45. Angles you can use
You can get started with three broad concepts:
● Task completion
○ For users to get the value of our products, they need to complete a series of tasks.
Funnels help us understand task completion & identify problematic areas
● Trends
○ You want to understand overall trends at a glance. Graphs depict this well. E.g is
revenue increasing over time? Is your churn rate increasing?
● Cohort behavior
○ a cohort is a group of people who share a common characteristic over a certain
period of time. It can be based on sign up date, marketing campaign e.t.c Cohort
analysis involves examining how cohorts behave

46. 46
Setting the Customer’s Journey
Webinar Series
In Summary:
1. Product analytics gives useful insights on how to
improve
2. Startup Pirate Metrics and Customer Journey
Mapping will help you set up the right metrics
3. You can get started quickly - don’t seek perfection

47. Setting the Customer’s Journey
Webinar Series
Q&A
Hannah Flynn
With: Moderated by:
Cofounder and CEO, Tanasuk Africa
Kirui K. K.
Site editor, Product Management Today
https://www.productmanagementtoday.com/webinar-series/setting-the-customer-s-journey/

48. Kirui K. K.
Co-founder and CEO, Tanasuk Africa
Make an Impact with
Analytics and Journey Maps
August 14, 2019 at 9:30 AM PDT