Startup Metrics for Pirates: AARRR! (SXSW March 2008)
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our SXSW panel presentation on startup metrics
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Startup Metrics for Pirates: AARRR! (SXSW March 2008)
- 1. Startup Metrics for Pirates: AARRR! Dave McClure, Master of 500 Hats @ SXSW, March 2008 blog: http://500hats. typepad .com/ website: http://www.500hats.com/ slides: http: //slideshare .net/dmc500hats/ * reminder: National Talk Like a Pirate Day is Sept 19 th !
- 5. Ship Ahoy!
- 6. Yo Ho Ho! Yo Ho Ho!
- 7. AARRR!
- 8. Why You Should Be A Web 2.0 Entrepreneur Pirate! AARRR! BOOTY!
- 10. Customer Lifecycle & Conversion Behavior Website.com 4. REFERRAL Emails & widgets Campaigns, Contests 5. Revenue $$$ Biz Dev Ads, Lead Gen, Subscriptions, etc 2. Activation Homepage / Landing Page Product Features 1. ACQUISITION SEO SEM Apps & Widgets Affiliates Email PR Biz Dev Campaigns, Contests Direct, Tel, TV Social Networks Blogs Domains
- 18. Customer Lifecycle / Conversion Behavior Website.com Encourage users to refer * after * they have “ happy” user experience; avg score >= 8 out of 10 2. Activation Homepage / Landing Page Product Features 4. REFERRAL Emails & widgets Campaigns, Contests 1. ACQUISITION SEO SEM Apps & Widgets Affiliates Email PR Biz Dev Campaigns, Contests Direct, Tel, TV Social Networks Blogs Domains
- 19. Customer Lifecycle / Conversion Behavior Website.com This is the part * you * have to figure out… I don’t know jack about your business 5. Revenue $$$ Biz Dev Ads, Lead Gen, Subscriptions, etc 2. Activation Homepage / Landing Page Product Features 4. REFERRAL Emails & widgets Campaigns, Contests 1. ACQUISITION SEO SEM Apps & Widgets Affiliates Email PR Biz Dev Campaigns, Contests Direct, Tel, TV Social Networks Blogs Domains
- 20. Example Conversion Metrics (note: *not* actuals … your mileage may vary.) Category Conversion Status Conv % Est. Value Acquisition Visit Site (or landing page, or external widget) 100% $.01 Acquisition Doesn't Abandon (views 2+ pages, stays 10+ sec, 2+ clicks) 70% $.05 Activation Happy 1 st Visit (views X pages, stays Y sec, Z clicks) 30% $.25 Activation Email/Blog/RSS/Widget/Acct Signup (anything that could lead to repeat visit) 5% $2 Retention Length of Session / # of Clicks (length/intensity of engaged visit, >180s) 10% $1 Retention Email Open/ RSS view -> Click/Repeat Visit (3+ visits in first 30 days) 3% $5 Referral Refer 1+ users who visit site 2% $1 Referral Refer 10+ users who activate 0.2% $10 Revenue User generates minimum revenue 2% $5 Revenue User generates break-even revenue 1% $25
- 22. Example Marketing Channels disclaimer: estimates of vol, cost/user, time & effort are subjective – actual costs are dependent on your specific business
- 25. Meeee…. AARRR !
- 26. LANDING PAGE Daily Candy
- 27. LADING PAGE Dog Info
- 31. AARRR !…(F)
- 33. CRAZY EGG Referring sites
- 45. Retention
- 46. Before
- 47. Before
- 48. After
- 49. After
- 52. AAR R R! R for Referral
- 56. Install flow example for Bumper Sticker
- 57. Engagement flow example for Friends for Sale
- 58. Metrics for viral loop User Call to action to invite friends x = invited friends Accept? No Yes y% = accept rate x * y > 1 gives you viral growth!