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Startup Marketing Metrics (for Pirates) BlueGlass LA Los Angeles, July 2010 Dave McClure  @DaveMcClure http://www.500hats....
Discover  Meaning What Do Users Care About Enough to  F**k   or  Kill   ? Kathy Sierra: “ Creating Passionate Users”
Read  Geoffrey Miller Sex  +  Evolution  +  Consumer Mktg  =  Awesome Sauce
Other Great  Shit. Psychology  +  Comics
[Blatant  Plug ]
Dave McClure <ul><ul><li>2001-2009: </li></ul></ul><ul><ul><li>Startup Investor:  500 Hats LLC, Founders Fund </li></ul></...
500 Hats Investments  (27 deals, 2004-2010, ~$400K) LinkDex oneforty Networked Blogs MyGengo Votizen Postling EcoMom SiteJ...
Founders Fund Investments  (43 deals, 2008-2010) Results : 8 raised seed rd $500K+  (+3 more break-even) Results : 5 raise...
[First, Discover  Meaning ]
Discover  Meaning What Do Users Care About Enough to  F**k   or  Kill   ? Kathy Sierra: “ Creating Passionate Users”
Optimize  4  Happiness  (both User + Business) <ul><li>Define  States of User + Business Value </li></ul><ul><li>Prioritiz...
Discover Meaning Keywords, Images, Call-to-Action <ul><li>Top 10 - 100 words </li></ul><ul><ul><li>Your Brand / Products <...
[The  Lean  Startup]
The Lean Startup <ul><li>Talk to  Customers ; Discover  Problems </li></ul><ul><li>Progress ≠ Features ( Less   =  More ) ...
Discover  Customers (Steve Blank, SteveBlank.com)
Iterate , Dammit. (Eric Ries, StartupLessonsLearned.com) LEARN BUILD MEASURE IDEAS CODE DATA
Product/Market Fit  b4 “Launch” (Sean Ellis, Startup-Marketing.com) [email_address] Blog: startup-marketing.com
[Startup Metrics 4  Pirates ]
Just Gimme the GOOD Metrics. Users, Pages, Clicks, Emails, $$$...? <ul><li>Q: Which of these is best?  How do you know? </...
Startup Metrics for Pirates <ul><li>A cquisition:   users come to site from various  channels </li></ul><ul><li>A ctivatio...
AARRR!: 5-Step Startup Metrics Model Website.com R evenue $$$ Biz Dev Ads, Lead Gen, Subscriptions, ECommerce A CQUISITION...
Q: What’s My Business Model? <ul><li>Can be one of the following: </li></ul><ul><ul><li>2. Get Users  (= Acquisition, Refe...
Startup Challenges <ul><li>Startups have problems in 3 key areas: </li></ul><ul><ul><li>Management : Setting Priorities, D...
Role: Founder/CEO <ul><li>Q: Which Metrics? Why? </li></ul><ul><li>A: Focus on  Critical Few Actionable  Metrics </li></ul...
Customer Conversion Hypothesis (Users + Conversions + Priorities) <ul><li>Q1: What  types  of people use your website?  </...
TeachStreet Customer Hypothesis: Teachers & Students Teachers Students Activation <ul><li>Claim Profile </li></ul><ul><li>...
Role: Product / Engineering <ul><li>Q: What Features to Build?  Why?  When are you “Done”? </li></ul><ul><li>A:  Easy-to-F...
Example Conversion Dashboard (note: *not* actuals… your mileage may vary) Stage Conversion Status Conv.  % Est. Value (*no...
Role: Marketing / Sales <ul><li>Q: What channels?  Which users?  Why? </li></ul><ul><li>A: High  Volume  (#), Low  Cost  (...
Example Marketing Channels <ul><li>PR </li></ul><ul><li>Contest </li></ul><ul><li>Biz Dev </li></ul><ul><li>Direct Marketi...
[M aarrr keting Metrics]
M AARRR keting Plan <ul><li>Marketing Plan = Target Customer Acquisition Channels </li></ul><ul><ul><li>3 Important Factor...
Website.com <ul><li>Marketing Channels: </li></ul><ul><ul><li>largest-volume (#)  </li></ul></ul><ul><ul><li>lowest-cost (...
Acquisition Where are users coming from? <ul><li>Acquisition Methods </li></ul><ul><li>SEO / SEM </li></ul><ul><li>Blogs <...
Acquisition Keyword Vocabulary <ul><li>Top 10 - 100 words </li></ul><ul><ul><li>Your Brand / Products </li></ul></ul><ul><...
Acquisition Where are users coming from? <ul><li>Key Metrics to Track </li></ul><ul><ul><li>Quantity (#) </li></ul></ul><u...
Acquisition <ul><li>Tools </li></ul><ul><ul><li>KISSmetrics / KISS insights </li></ul></ul><ul><ul><ul><li>http://KISSmetr...
One Step at a Time. <ul><ul><li>Make a Good Product : Activation & Retention </li></ul></ul><ul><ul><li>Market the Product...
Links & Resources <ul><li>Additional References: </li></ul><ul><li>Influence: The Psychology of Persuasion  Robert Cialdin...
Appendix
[The Lean Investor]
Startup 2.0:  “Lean Investor” Model <ul><li>Method : Invest in startups using incremental investment, iterative developmen...
Investment #1: Incubate (“Product”) <ul><li>Structure </li></ul><ul><ul><li>1-3 founders </li></ul></ul><ul><ul><li>$25K-$...
Investment #2: Seed (“Market”) <ul><li>Structure </li></ul><ul><ul><li>2-5 person team </li></ul></ul><ul><ul><li>$100K-$1...
Investment #3: Venture (“Revenue”) <ul><li>Structure </li></ul><ul><ul><li>5-10 person team </li></ul></ul><ul><ul><li>$1M...
Startup Metrics Activation
Website.com <ul><li>Activation Criteria: </li></ul><ul><li>10-30+ seconds </li></ul><ul><li>2-3+ page views </li></ul><ul>...
Activation What do users do on their first visit? <ul><li>Example Activation Goals </li></ul><ul><ul><li>Click on somethin...
Activation What do users do on their first visit? <ul><li>Key Metrics to Track </li></ul><ul><ul><li>Pages per visit </li>...
Activation <ul><li>Tools </li></ul><ul><ul><li>Crazy Egg (Visual Click Mapping) </li></ul></ul><ul><ul><li>http://crazyegg...
Startup Metrics Retention
Website.com <ul><li>Automated emails: </li></ul><ul><li>lifecycle emails @ +3, +7, +30d  </li></ul><ul><li>status / “best ...
<ul><li>Cohort Analysis: </li></ul><ul><li>Distrib of Visits over Time </li></ul><ul><li>Rate of Decay </li></ul><ul><li>E...
<ul><li>Example Retention Goals </li></ul><ul><ul><li>1 - 3+ visits per month </li></ul></ul><ul><ul><li>20% open rate / 2...
Retention How do users come back? How often? <ul><li>Key Metrics to Track </li></ul><ul><ul><li>Source </li></ul></ul><ul>...
Retention <ul><li>Tools </li></ul><ul><ul><li>Campaign Monitor / MailChimp (email newsletter software) </li></ul></ul><ul>...
Startup Metrics Acquisition
Website.com <ul><li>Marketing Channels: </li></ul><ul><ul><li>largest-volume (#)  </li></ul></ul><ul><ul><li>lowest-cost (...
Acquisition Where are users coming from? <ul><li>Acquisition Methods </li></ul><ul><li>SEO / SEM </li></ul><ul><li>Blogs <...
Acquisition Keyword Vocabulary <ul><li>Top 10 - 100 words </li></ul><ul><ul><li>Your Brand / Products </li></ul></ul><ul><...
Acquisition Where are users coming from? <ul><li>Key Metrics to Track </li></ul><ul><ul><li>Quantity (#) </li></ul></ul><u...
Acquisition <ul><li>Tools </li></ul><ul><ul><li>KISSmetrics / KISS insights </li></ul></ul><ul><ul><ul><li>http://KISSmetr...
Startup Metrics Referral
Website.com Focus on driving referrals * after * users have a “ happy ” experience; avg score >=  8 out of 10 Referral Acq...
Referral How do users refer others? <ul><li>Referral Methods </li></ul><ul><li>Send to Friend: Email / IM </li></ul><ul><l...
Referral Viral Growth Factor <ul><li>Viral Growth Factor =  X  *  Y  *  Z </li></ul><ul><li>X = % of users who invite othe...
Referral <ul><li>Tools </li></ul><ul><ul><li>Gigya (social media distribution & tracking tool) </li></ul></ul><ul><ul><li>...
Startup Metrics Revenue
Website.com Revenue This is the part *you*  still have to figure out…  (we  don’t know jack  about your business) R evenue...
Revenue How do you make money? <ul><li>Revenue Tips </li></ul><ul><ul><li>Don’t Rely on AdSense (only) </li></ul></ul><ul>...
Revenue <ul><li>Resources & Tools </li></ul><ul><ul><li>Revenue Metrics (Andrew Chen) </li></ul></ul><ul><ul><li>http://ti...
Types of Measurement <ul><li>Qualitative : Usability Testing / Session Monitoring </li></ul><ul><ul><li>Watch users,  gues...
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Investment #3: Venture (“Revenue”) <ul><li>Structure Marketing Metrics 4 Pirates (July 2010)

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Investment #3: Venture (“Revenue”) Structure 5-10 person team $1M-$5M investment VC Investors Make Money , Get to Sustainability: Beta->Production, 12-18 months Customer Sat ≥ 8 => “ It Rocks, I’ll Tell My Friends ” MktgPlan => Predictable Channels / Campaigns + Budget Scalability & Infrastructure, Customer Service & Operations Connect with Distribution Partners Prove/Expand Market, Operationalize Business Future Milestones: Profitable/Sustainable , Exit Options

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  • Nice Job!.... STARTUPS get funding...Send your pitchdeck to over 5700 of VC's and Angel's with just 1 click. Visit: Angelvisioninvestors.com
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  • Wonderful presentation! Resume keywords are way more important than resume formats. Because recruiters conduct keyword searches during the initial sourcing process in Applicant Tracking Systems. You're not found if your resume doesn't contain the exact keywords. But it's a pain to find those keywords from the job descriptions. I found the site Jobscan http://ow.ly/RmPcR that identify keywords for your. All you do is paste in your resume plus the job description, then Jobscan analyzes your job description for you automatically and identify the most important keywords for you. It literally takes seconds and it so worth the copy and paste. Saved me so much time AND I got more interviews using Jobscan! I recommend it as well.
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  • Great presentation!
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  • For a brilliant guy, those slides are pretty nasty. I'm sure your local community college has a design school you could take... ;)
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