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Lean Analytics Cycle
- Lean Analytics Lean Product & Lean UX Silicon Valley - July 2014 Hiten Shah hnshah@gmail.com Download the slides: h p://kiss.ly/leanprod2014
- Continuous Learning & Improvement
- Don’t know where to start?
- Wondering if you’re working on the right things?
- Or, you just want to hear me babble!
- HTTP://KISS.LY/LEANLYTICSBOOK
- Lean Analytics helps you Optimize for Learning
- Lean Analytics Cycle AVINASH KAUSHIK HTTP://KISS.LY/LEANAC
- Metrics → Hypothesis → Experiment → Act
- HTTP://HELLOBAR.COM
- What is Hello Bar?
- Metrics Figure out what to improve Hypothesis Make an educated guess Experiment Test your guess Act Decide what’s next
- Our funnel showed a low installation rate Hello Bar Funnel Metrics Steps Visitors Homepage URL Entries Created First Bar Completed Registration Installed Totals 15068 1868 716 688 398 % prev step 12.40% 38.33% 96.09% 57.85% % drop off -87.60% -61.67% -3.91% -42.15% % of visitors 100% 12.40% 4.75% 4.57% 2.64%
- We achieved a 40% increase for our installa2on rate with just this one first experiment. The Lean Analytics Cycle At Work
- Original Hello Bar installation screen
- Metrics Figure out what to improve Hypothesis Make an educated guess Experiment Test your guess Act Decide what’s next
- Find out why people don’t install Hello Bar
- Didn’t Meet My Expectations
- I Had Trouble Installing It
- I Don’t Have A Website
- Not Ready To Install
- Other
- Hello Bar Experiment Hypothesis If more installa2on op2ons are given, then more people will add Hello Bar to their website due to the need for a WordPress plugin and ability to email the code to someone else.
- Metrics Figure out what to improve Hypothesis Make an educated guess Experiment Test your guess Act Decide what’s next
- Created a new flow to test
- I can install code myself.
- 41.67% responded with “WordPress Plugin”
- 25% responded with “email my developer / web designer”
- I need help.
- Metrics Figure out what to improve Hypothesis Make an educated guess Experiment Test your guess Act Decide what’s next
- Full funnel metrics for the experiment Variation Steps Visitors Homepage URL Entries Created First Bar Completed Registration Installed Totals 7456 906 342 329 276 % prev step 12.15% 37.75% 96.20% 83.89% % drop off -87.85% -62.25% -3.80% -16.11% % of visitors 100% 12.15% 4.59% 4.41% 3.70% Control Steps Visitors Homepage URL Entries Created First Bar Completed Registration Installed Totals 7469 925 353 341 197 % prev step 12.38% 38.16% 96.60% 57.77% % drop off -87.62% -61.84% -3.40% -42.23% % of visitors 100% 12.38% 4.73% 4.57% 2.64%
- Resulted in a 30% installation rate increase HTTP://ISVALID.ORG Experiment resulted in a 40% improvement
- ACer a dozen more experiments, our installa2on rate is now hovering between 5% and 7% That’s an addi;onal 89% increase!!! The Lean Analytics Cycle At Work
- Metrics → Hypothesis → Experiment → Act How You Can Put It Into Practice
- Metrics Figure out what to improve
- “What gets measured, gets managed.” Peter Drucker
- Baselines DATA DNA EBOOK HTTP://KISS.LY/OPTDATADNA
- Funnels KISSMETRICS FUNNEL REPORT HTTP://KISS.LY/KMFUNNEL
- SaaS Funnel KISSMETRICS FUNNEL REPORT HTTP://KISS.LY/KMFUNNEL
- eCommerce Funnel KISSMETRICS FUNNEL REPORT HTTP://KISS.LY/KMFUNNEL
- Revenue BUFFER BAREMETRICS HTTP://KISS.LY/BUFFERBARE
- Spreadsheets and Calculations HELLOBAR HTTP://HELLOBAR.COM Steps Visitors Homepage URL Entries Created First Bar Completed Registration Installed Created Second Bar Totals 15068 1868 716 688 398 193 % prev step 12.40% 38.33% 96.09% 57.85% 48.49% % drop off -87.60% -61.67% -3.91% -42.15% -51.51% % of visitors 100% 12.40% 4.75% 4.57% 2.64% 1.28%
- Hypothesis Make an educated guess
- “A solid test hypothesis is an informed solution to a real problem – not an arbitrary guess. The more research and data you have to base your hypothesis on, the be er it will be.” — Michael Aagaard, h p://kiss.ly/abthypo
- Research Tools & Tac;cs
- Customer Development HTTP://WWW.CUSTDEV.COM
- Jobs To Be Done #JTBD HTTP://JOBSTOBEDONE.ORG
- Usability Testing HTTP://USERTESTING.COM
- Live Chat HTTP://OLARK.COM
- Mouse Tracking HTTP://CRAZYEGG.COM
- Long Form Surveying HTTP://SURVEYMONKEY.COM
- On-Page Surveying HTTP://QUALAROO.COM
- Personalized Messaging HTTP://INTERCOM.IO
- Email a survey to people HTTP://SURVEYMONKEY.COM
- Ask people why they canceled HTTP://SURVEYMONKEY.COM
- Get feedback right when they cancel
- Exit Surveys HTTP://QUALAROO.COM
- Discover what’s missing HTTP://QUALAROO.COM
- Find out what words people use to describe your product HTTP://QUALAROO.COM
- Learn about people’s expectations HTTP://INTERCOM.IO
- Learn what frustrates people HTTP://INTERCOM.IO
- More actionable reading… QUALITATIVE DATA HTTP://KISS.LY/QUALABT
- Experiment Hypothesis Formula DATA DNA EBOOK HTTP://KISS.LY/OPTDATADNA
- Experiment Test your guess
- Only 1 out of 5 tests win. 4 out of 5 tests cost you money. $
- 1) Which top metric are we trying to improve? 2) What can you anchor your metric against? 3) What is your hypothesis about why this metric is at x%? 4) What do we expect from this experiment? 5) What was the result and what did we learn from it? HTTP://KISS.LY/6QSAB Answer key questions for each experiment
- Prioritize your experiments HTTP://KISS.LY/ABPIE
- Don’t copy “best practices” blindly
- Learn what works best for you
- Act Decide what’s next
- Explore the results and make data informed decisions. THE ANALYTICS THAT MATTER TO FACEBOOK HTTP://KISS.LY/FBINFORM
- KISSmetrics A/B Testing Report KISSMETRICS A/B TESTING REPORT HTTP://KISS.LY/KMABTEST
- We know that people love Google Analytics
- KISSmetrics Experiment Hypothesis If people authen2cate with Google, then more people will sign up due to their exis2ng familiarity with Google Analy2cs and alignment with our winning headline.
- KISSmetrics Homepage Test Control
- KISSmetrics Homepage Test Variation
- KISSmetrics Homepage Test Signup Conversion Rate KISSMETRICS A/B TESTING REPORT HTTP://KISS.LY/KMABTEST
- KISSmetrics Homepage Test Received Data KISSMETRICS A/B TESTING REPORT HTTP://KISS.LY/KMABTEST
- KISSmetrics Homepage New Control
- Inspiration
- KISSmetrics Homepage New Test Variation
- KISSmetrics Homepage Test Signup Conversion Rate KISSMETRICS A/B TESTING REPORT HTTP://KISS.LY/KMABTEST
- KISSmetrics Homepage Test Received Data KISSMETRICS A/B TESTING REPORT HTTP://KISS.LY/KMABTEST
- Growth! HTTP://KISSMETRICS.COM
- Metrics Figure out what to improve Hypothesis Make an educated guess Experiment Test your guess Act Decide what’s next
- Hiten Shah hnshah@gmail.com @hnshah You will get all you want in life if you help enough other people get what they want. Zig Ziglar Download the slides: h p://kiss.ly/leanprod2014