Lean Analytics: A short summary
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I gave this presentation about the Lean Analytics book at the Lean Startup Meetup in Karlsruhe. Follow my blog for updates: http://jan-koenig.com/blog/ Or Twitter: https://twitter.com/einkoenig
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Lean Analytics: A short summary
- 1. Jan König Lean Startup Meetup Karlsruhe @einkoenig 22.04.2013
- 3. book content additional stuff group discussion?
- 4. Book Parts 1 Stop Lying to Yourself 2 Finding the Right Metric for the Right Time 3 Lines in the Sand 4 Putting Lean Analytics to Work won’t be covered tonight
- 6. Data? Lean Startup? I just go with my gut feeling. (too) many people
- 7. watch it here: http://www.ted.com/talks/tali_sharot_the_optimism_bias.html
- 8. Follow the Lean model, and it becomes increasingly hard to lie, especially to yourself.
- 9. Instincts are experiments. Data is proof.
- 11. Do hosts with professional photography get more business? image by mark sebastian / flickr
- 12. Gut instinct Professional photography helps Airbnb’s business Concierge MVP 20 photographers in the field Test results Two to three times more bookings!
- 14. You are not building a product. You are building a tool to learn what product to build.
- 15. Finding the Right Metric2 for right now!
- 16. Good Metrics? image by kevin dooley / flickr
- 17. image by flopper/ flickr comparative image by wikia.com
- 18. understandable image by Jeff Kubina / flickr
- 19. rate or ratio image by Gabe Photos / flickr
- 20. changes the way you behave image by will ockenden / flickr
- 21. image by 55Laney69 / flickr The One Metric That Matters
- 22. 1 answers the most important question you have 2 forces you to draw a line in the sand 3 focuses the entire company 4 inspires a culture of experimentation
- 23. Should you really focus on one metric?
- 24. Restaurant’s Effectiveness Metrics Delivery Usage Customer Satisfaction Possible Interpretation Crazy! Time to look at other metrics to improve your business. Source: Klubeck, “Metrics”, page 149f Great food and a loyal, but very small customer base. Maybe a bad location. “The only game in town.” Or a product customers need but don’t want. OK, something is wrong here. You know that. with Triangulation
- 25. Restaurant’s Effectiveness Metrics Customer Satisfaction Possible Interpretation good Source: Klubeck, “Metrics”, page 149f good bad bad without Triangulation Delivery Usage Customer Satisfaction Possible Interpretation focus on
- 26. ratio = staff costs gross revenues image by Giorgio Montersino / flickr
- 27. What Business are you in? E-Commerce SaaS Free Mobile App Media Site User-Generated Content Two-Sided Marketplaces
- 28. What Stage are you at? Empathy Stickiness Virality Revenue Scale
- 29. What is your OMTM?
- 31. One of the most challenging things for a startup to do: find a relevant number against which to compare yourself.
- 32. Some interesting bottom lines Growth 5% (revenue or active users) Engaged Visitors 30% monthly users 10% daily users Mailing List Effectiveness 20-30% open rate 5% click-throughs
- 33. image by Robert Scoble / flickr Should you ask for billing information upfront?
- 34. Trial users Subscribers Churn 1st perriod End to end 2% 50% up to 40% 0.6% 10% 15% up to 20% 1.2%
- 35. Questions?