Metrics for Startups: Learn about Funnel, Retention and Channel Metrics

#METRICS
for Startups
www.popcornmetrics.com info@popcornmetrics.com @popcornmetrics

PAUL BOYCE, CoFounder & CEO

awesome session on #startup #metrics by
@paulmboyce @popcornmetrics

startup = growth.http://www.paulgraham.com/growth.html
metrics exist to help you grow

metrics
= data.
without data, you’re
guessing.

Funnel metrics
Retention metrics
Channel metrics

Quick Exercise (2 mins):
1. Write your top 3-5 metrics (watch daily)

Metrics Serve You
i. measure growth
ii. set growth goals
iii. track growth improvement.

What makes a good metric?

A “Good” Metric is:
Ratio/Rate: “%, per hr/day”
Comparative: “vs last week”
Actionable: “not vanity”
Understandable: “whole team”

What’s more useful?
1000 signups - quantity
1000 signups/wk - speed
7% more signups/wk (than last wk) - acceleration

a good metric
changes
your
behaviour

The One Metric
that Matters

FUNNEL METRICS

Pirate Metrics

Deep Conversions: Playmode

Funnel Strategy:
left ------------------------------> right
uber& micro

RETENTION METRICS

“keeping as
many users for
as long as
possible.”
value

if you aren’t retaining:
● low LTV
● limited channels
● less referrals
● no value?

“If you don’t have
good retention,
nothing else
matters.”
Brian Balfour, VP
Growth, Hubspot

BAD
Retention
COHORTS SHRINK
SOURCE: Dan Wolchonok
(Hubspot)

GOOD
Retention
COHORTS RETAIN
SOURCE: Dan Wolchonok
(Hubspot)

How to build
a retention curve:
go read this article:
bit.ly/retention-curve

so, how do I
improve retention?

Average
Retention: 1.5
m Android
apps
SOURCE: QUETTRA / ANDREW
CHEN
http://andrewchen.co/new-data-shows-
why-losing-80-of-your-mobile-users-is-
normal-and-that-the-best-apps-do-
much-better/

Retention:
Top 5000
Android
apps
SOURCE: QUETTRA /
ANDREW CHEN

Day 1 retention
has a massive impact.

GOAL: Push
the curve up.
prioritise
d1, w1
SOURCE: POPCORNMETRICS.COM

find the value.
look at onboarding.

connect people with what
makes them stick. ASAP!
facebook: connect friends (10 in 14 days)
zapier: create your first Zap
airbnb: find that first “cool” listing
trello: create project, add coworkers
intercom.io: install JS, send first message

Benchmarks.
(how well are you doing?)

SaaS:
Start Trial: 5-10%
Subscribe: 15-25%
Churn: 2% <5%
-------------------------------------------------------------------------------------
Upsell 20% (annual $)
TRIALS: 20% serious | 20% casual | 60% curious

user content:
pinterest: 14 mins, tumblr: 21 mins, facebook:60 mins
Time on Site: 17mins / day
-------------------------------------------------------------------------------------
5-15% generate content
80% content < 2% of users

e-commerce:
amazon: 9.6%, ebay: 11.5%
-------------------------------------------------------------------------------------
startups: 1-3%
2% -> 10% : loyal | skus | repeat
4.5% mobile searches >> purchase

5-7% weekly growth
http://www.paulgraham.com/growth.html

awesome session on #startup #metrics by
@popcornmetrics

CHANNEL METRICS
Google Analytics

Channel Report + Events

“which channels
bring
the best users?”

Exercise (Part 2):
1. How many are good?
2. Can you eliminate any?
3. What could you add?
4. How would you measure retention?
5. What is your funnel?
6. Could you drive from just one metric for
the next x months?

that blog post (again):
bit.ly/retention-curve

Process.
turning guesses into facts

1. get a baseline.
2. get inspiration.
3. prioritise ideas.
4. run experiments.
5. measure results.
6. learn what works.
7. repeat.
7step
formula:

Process.
discipline + focus

Levers:
AirBnb - photo session
Facebook - 7 friends

I’m inspired by:
Alex Schultz (VP Growth Facebook),
Brian Balfour (VP Growth Hubspot),
Dan Wolchonok (Growth Hubspot)
Andrew Chen (essays on growth)

3 months FREE
for Lisbon Challengers
signup at: http:
//PopcornMetrics.com
here’s the code:
LC2016H1100X13

questions?

thank you.

Metrics for Startups: Learn about Funnel, Retention and Channel Metrics

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