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Data Analytics for Startups - Tetuan Valley Startup School Fall 2015
This document contains an agenda and slides for a data analytics workshop. The workshop covers metrics for different stages of the customer lifecycle including acquisition, activation, retention, referral, and revenue. Key metrics discussed include conversion rates, churn rates, lifetime value, and monthly recurring revenue. Case studies are presented for different companies and how they measure user activation, retention, and virality. The presentation emphasizes measuring meaningful metrics that provide insights rather than just vanity metrics, and having dedicated staff to track metrics over time.
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Data Analytics for Startups - Tetuan Valley Startup School Fall 2015
- 1. 1 Data Analytics: becauseeverything counts Justo Hidalgo @justohidalgo
- 2. 2 Hi! • Co-founder, –BizDev – Publisher Relations – Investor Relations – Data Analytics • Background: Data Integration and Management, Product Strategy and Innovation • Ph.D. in Computer Science on Data Integration and Web Automation • Ergo: Love Data J • @justohidalgo
- 3. 3 A service toread and discover digital books that works on any device
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- 5. 5 1. Data analyticsmodels and their relation to Lean 2. User acquisition. Metrics, analysis of results and cases 3. User activation. Metrics, analysis of results and cases 4. User retention. Metrics, analysis of results and cases 5. Virality and Referral. Metrics, analysis of results and cases 6. Revenue. Metrics, analysis of results and cases Workshop Agenda
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- 8. 8 Typical vanity metrics •Number of hits • Number of page views • Number of visits • Number of unique visitors • Number of followers/friends/likes • Time on site/number of pages • Emails collected • Number of downloads
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- 10. 10 Cohort Analysis Jan 2015 Feb 2015 Mar 2015 Apr 2015 May 2015 Jun 2015 Jul 2015 Aug 2015 Sep 2015 Oct 2015 Nov 2015 Cohort: Jan 2015 1059 520 265 142 66 33 29 17 8 4 2 Cohort: Feb 2015 1200 760 354 179 89 45 35 24 12 6 Cohort: Mar 2015 1250 800 230 154 67 66 55 23 12 Cohort: Apr 2015 1210 760 340 156 65 54 45 32 Cohort: May 2015 1450 1000 750 560 450 345 312 Cohort: June 2015 1540 1210 1002 890 600 530 Inspiration: http://christophjanz.blogspot.de/2012/05/know-your-user-cohorts.html
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- 12. 12 One key question for the whole customer lifecycle • How effective is a web page compared to another? – Effective = conversion rate, usage rate, payment rate, … ?
- 13. 13 What’s A/B Testing? Version A Version B Visitors are randomly distributed time 1200 new users 1000 new users Version A is better than B
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- 15. 15 AARRR Acquire Activate RetainRefer Get Revenue SEO SEM Campaigns Email Blogs … Landing Page Product Features … Content (blogs, articles, …) Emails Alerts … Campaigns Emails … Shopping cart Subscriptions Lead Gen … traffic social business
- 16. 16 What’s next • Session 2: User acquisition. Metrics, analysis of results and cases Acquire Activate Retain Refer Get Revenue SEO SEM Campaigns Email Blogs … Landing Page Product Features … Content (blogs, articles, …) Emails Alerts … Campaigns Emails … Shopping cart Subscriptions Lead Gen …
- 17. 17 How do peoplefind your site? Acquisition
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- 22. 22 15 seconds in “La 1”
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- 26. 26 Metrics Number of visitsDistributions (per browser, region, …) Number of page views Bounce rate
- 27. 27 What’s next • Session 3: User activation. Metrics, analysis of results and cases Acquire Activate Retain Refer Get Revenue SEO SEM Campaigns Email Blogs … Landing Page Product Features … Content (blogs, articles, …) Emails Alerts … Campaigns Emails … Shopping cart Subscriptions Lead Gen …
- 28. 28 How sticky isyour site? AActivation
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- 38. 38 Metrics 40000 45000 50000 55000 60000 65000 70000 75000 80000 85000 Time per page Time on site # Sign ins!!! Recency (time since user did something meaningful) (and churn as well!!!)
- 39. 39 What’s next • Session 4: User retention. Metrics, analysis of results and cases Acquire Activate Retain Refer Get Revenue SEO SEM Campaigns Email Blogs … Landing Page Product Features … Content (blogs, articles, …) Emails Alerts … Campaigns Emails … Shopping cart Subscriptions Lead Gen …
- 40. 40 Why do userscome back? AARetention
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- 43. 43 1. Weekly digest of app/service activity
- 44. 44 2. Activity notifications from within the app
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- 46. 46 4. Product / Content update newsletters
- 47. 47 5. Basic loyalty program
- 48. 48 6. Automated emails for inactive users
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- 56. 56 Number of unique/returningvisitors Visits over time Average session time Metrics. The standard ones…
- 57. 57 D/WAU: Daily/Weekly Active Users MAU: Monthly Active Users Stickiness = … engagement… D/WAU MAU
- 58. 58 # Active readers # Books read per user Pages read per active reader per month … but also domain-specific!!! Pages read per paid user per month
- 59. 59 What’s next • Session 5: User referral and virality. Metrics, analysis of results and cases Acquire Activate Retain Refer Get Revenue SEO SEM Campaigns Email Blogs … Landing Page Product Features … Content (blogs, articles, …) Emails Alerts … Campaigns Emails … Shopping cart Subscriptions Lead Gen …
- 60. 60 Do people talkabout your site? AARReferral
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- 69. 69 Amplification rate: –(#shares, #RTs, …) K-Factor = AR * conversion rate – = 1: steady state – > 1: growth ➤ 1.4 < x < 2.1 => hot & viral!!! – < 1: decline Virality
- 70. 70 What’s next • Session 6: Revenue. Metrics, analysis of results and cases Acquire Activate Retain Refer Get Revenue SEO SEM Campaigns Email Blogs … Landing Page Product Features … Content (blogs, articles, …) Emails Alerts … Campaigns Emails … Shopping cart Subscriptions Lead Gen …
- 71. 71 Do you makemoney? AARRRevenue
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- 73. 73 CMRR LTV CACR 3 (main) metrics for SaaS
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- 75. 75 SaaS = recurring revenues CMRR = Committed Monthly Recurring Revenue – Recurring + new accounts + new upsells – churn CMRR
- 76. 76 Lifetime Value = 100% LTV Source: http://blog.kissmetrics.com/how-to-calculate-lifetime-value/Churn rate ARPU *
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- 78. 78 Of course, LTV > CAC But, moreover: LTV > 3x CAC LTV vs CAC
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- 82. 82 2. Have someone taking care of your metrics
- 83. 83 3. Only measure what you truly care about @justohidalgo
- 84. 84 4. Beware vanity metrics…
- 85. 85 … they may hide an awful truth
- 86. 86 Thanks for your time! @justohidalgo Justo Hidalgo http://www.loscuentosdelabuelo.com jhidalgo@24symbols.com