Lean Analytics - Ben Yoskovitz, Co-author, Lean Analytics & VP Product, VarageSale

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The document summarizes key concepts from the book "Lean Analytics" by Ben Yoskovitz. It discusses how analytics is the measurement of progress towards business goals and outlines important characteristics of good metrics like being understandable, comparable, and behavior changing. It also describes the lean analytics cycle of finding potential improvements, designing tests to validate hypotheses, measuring results, and iterating. Finally, it discusses different stages of business like empathy, stickiness, virality and revenue that companies need to progress through.

Lean Analytics
440 pages in 15 minutes
Ben Yoskovitz
byosko@gmail.com
@byosko

Unfortunately,
we’re all liars. (go ahead, admit it, it’s OK)

Everyone’s idea is the
best right?!
People love !
this part!!
(but that’s not always !
a good thing)!
This is where things
fall apart.!
No data, no learning.!

Analytics is the measurement of
movement towards business goals.

Pick one metric that matters to
your business right now.

The metric will change over time,
but right now you need to FOCUS.

A good metric is:
Understandable
If you’re busy explaining
the data, you won’t be
busy acting on it.
Comparable
Usually comparing a
metric over time. (e.g.
DAU, WAU, MAU)
Ratio or Rate
Turn your comparable
metrics into ratios. (e.g.
DAU/MAU; Signups/
Retention)
Behavior Changing
You know how you’ll
change your business
based on what the
metric tells you.

If a metric
won’t
change
how you
behave…
it’s a bad
metric.

What stage are you really at?
Lean Analytics Stages
“Gates” needed to move forward!
Empathy
Stickiness
Virality
Revenue
Scale
You’ve found a real, poorly-met need that a sizeable market
faces.
You’ve ﬁgured out how to solve the problem in a way they
will adopt, keep using (and pay for).
Your users and features fuel growth organically and
artiﬁcially.
You’ve found a sustainable, scalable business with the right
margins in a healthy ecosystem.

The SaaS Customer
Lifecycle
Customer Acquisition Cost
paid
direct
search
wom
inherent virality
VISITOR
Freemium/trial offer
Enrollment
User
Disengaged User
Cancel
Freemium
churn
Engaged User
Free user
disengagement
Reactivate
Cancel
Trial abandonment rate
Invite Others
Paying Customer
Reactivation rate
Paid
conversion
FORMER USERS
User Lifetime Value
Reactivate
FORMER CUSTOMERS
Customer Lifetime Value
Viral coefﬁcient
Viral rate
Resolution
Support data
Account Cancelled
Billing Info Exp.
Paid Churn Rate
Tiering
Capacity Limit
Upselling
rate
Upselling
Disengaged
Dissatisﬁed
Trial Over

WineExpress Results
•  41% increase in revenue per
customer! (People bought a lot
more product.)!
•  Conversion also went up, but
was secondary in importance.!
Remember the deﬁnition of
analytics?!
B

Lean Analytics Cycle
Draw a new line!
Pivot or!
give up!
Try again!
Success!!
Did we move the
needle?!
Measure the
results!
Make changes in
production!
Design a test!
Hypothesis!
With data:!
ﬁnd a
commonality!
Without data:
make a good
guess!
Find a potential
improvement!
Draw a line!Pick a OMTM!

Once, a leader convinced others!
in the absence of data.!

Now, a leader knows what
questions to ask.!

Thank you
Ben Yoskovitz!
byosko@gmail.com!
@byosko!
Alistair Croll!
acroll@gmail.com!
@acroll!

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With massive shifts and uncertainty in the markets right now, founders, CEOs, CFOs, and board members alike want to know what are the new rules to play by. Tomasz Tunguz gives us a deep dive into what's going on in Venture Capital and how you can build a unicorn in the current climate. Website: https://tractionconf.io YouTube: https://www.youtube.com/c/TractionConf/videos Spotify: https://open.spotify.com/show/6twRL8X8D4CQq9yaazkvuM Apple: https://podcasts.apple.com/us/podcast/traction/id159

The Ultimate Product Strategy to Deliver Billions - Sara Hicks, Mailchimp

Traction Conf

Developing a product strategy starts with understanding the customer problems that your business can solve well, which in turn, creates a durable competitive advantage. A compelling product strategy then prioritizes the key initiatives that will have the biggest impact on customers and the business–all while navigating unknowns, team velocity, and other constraints. In this session, Mailchimp's CPO Sara Hicks walks through the framework for a successful strategy diving into business goals, technical and operational needs, customer feedback, and competitive differentiators. Specifically, Sara covers: - Key elements to creating a compelling product strategy in 2022 - How to define and articulate your customer problems - How to identify and prioritize initiatives and capabilities - How to align roadmap and projects to longer-term goals and strategic bets - How to set up people, processes, and technology to get more accomplished - How to organize cross-functional teams to win and hit goals - How she built and sold her company by focusing on product strategy from the outset - How to build a winning product organization: roles, qualities, timing, finding talent - How to balance product innovation with maintenance - How to leverage your customers and community to drive consistent and helpful feedback As Chief Product Officer, Sara Hicks is responsible for leading and shaping Mailchimp’s product strategy and oversees product execution and innovation to help small businesses start and grow. She joined Mailchimp as the Co-founder and CEO of Reaction Commerce, which she successfully led from founding to acquisition by Mailchimp in April 2020. She’s also a startup advisor, executive leadership coach, and former product and design leader at Etsy, Media Temple, Yahoo!, and GeoCities, among other global technology companies.

12 Step Community Led Growth Playbook - Lloyed Lobo

Traction Conf

The document discusses building communities and provides 12 rules for creating an engaging community. It begins by recommending starting with either a practice community for learning a field or a product community for users to discuss a product. It stresses the importance of having a clear purpose, vision, mission and values that members can align around. It also recommends focusing on serving one audience exceptionally well and setting aggressive growth goals once product-market fit is achieved.

The Art of Growth - Lloyed Lobo

Traction Conf

1) The document discusses tips for achieving growth for a startup, including focusing intensely on understanding customers' needs, validating ideas by charging for the product or service, nailing down one or two key distribution channels, providing an immediate "Aha moment" for new users, and making the product sticky to retain users. 2) It emphasizes the importance of reasoning from first principles rather than analogy when developing growth strategies. 3) The overall message is to focus on building a great product people want to use and pay for rather than pursuing funding, as the funding will follow successful growth.

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