Marketing Metrics 4 Pirates (July 2010)
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Dave McClure discusses startup marketing metrics and focuses on the AARRR framework: Acquisition, Activation, Retention, Referral, and Revenue. He emphasizes measuring key metrics like conversion rates at different stages to optimize the customer journey from first visit to monetization. McClure also provides examples of marketing channels and tools to track metrics like volume, cost and conversions.
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Marketing Metrics 4 Pirates (July 2010)
- 1. Startup Marketing Metrics (for Pirates) BlueGlass LA Los Angeles, July 2010 Dave McClure @DaveMcClure http://www.500hats.com http://500hats.typepad.com http://slideshare.net/dmc500hats HashTags: #blueglass #aarrr AARRR !
- 2. Discover Meaning What Do Users Care About Enough to F**k or Kill ? Kathy Sierra: “ Creating Passionate Users”
- 3. Read Geoffrey Miller Sex + Evolution + Consumer Mktg = Awesome Sauce
- 4. Other Great Shit. Psychology + Comics
- 5. [Blatant Plug ]
- 7. 500 Hats Investments (27 deals, 2004-2010, ~$400K) LinkDex oneforty Networked Blogs MyGengo Votizen Postling EcoMom SiteJabber Graphicly WePay Plancast 2004-2008: 13 deals, avg $25K results: 1 exit @ $170M (9x), +3-6 future wins 2009-10 (last 9 mo’s): 14 deals, avg $10K Recurly AwayFind
- 8. Founders Fund Investments (43 deals, 2008-2010) Results : 8 raised seed rd $500K+ (+3 more break-even) Results : 5 raised next rd $2M+, 1 exit (expect 5+ more) Facebook Incubator 22 deals ($850K) ~$15-75K FF Angel LLC 21 deals ($2M) ~$50-250K
- 9. [First, Discover Meaning ]
- 10. Discover Meaning What Do Users Care About Enough to F**k or Kill ? Kathy Sierra: “ Creating Passionate Users”
- 13. [The Lean Startup]
- 15. Discover Customers (Steve Blank, SteveBlank.com)
- 16. Iterate , Dammit. (Eric Ries, StartupLessonsLearned.com) LEARN BUILD MEASURE IDEAS CODE DATA
- 17. Product/Market Fit b4 “Launch” (Sean Ellis, Startup-Marketing.com) [email_address] Blog: startup-marketing.com
- 18. [Startup Metrics 4 Pirates ]
- 21. AARRR!: 5-Step Startup Metrics Model Website.com R evenue $$$ Biz Dev Ads, Lead Gen, Subscriptions, ECommerce A CQUISITION SEO SEM Apps & Widgets Affiliates Email PR Biz Dev Campaigns, Contests Direct, Tel, TV Social Networks Blogs Domains R etention Emails & Alerts System Events & Time-based Features Blogs, RSS, News Feeds
- 28. Example Conversion Dashboard (note: *not* actuals… your mileage may vary) Stage Conversion Status Conv. % Est. Value (*not* cost) Acquisition Visitors -> Site/Widget/Landing Page (2+ pages, 10+ sec, 1+ clicks = don’t abandon) 60% $.05 Activation “ Happy” 1 st Visit; Usage/Signup (clicks/time/pages, email/profile reg, feature usage) 15% $.25 Retention Users Come Back; Multiple Visits (1-3x visits/mo; email/feed open rate / CTR) 5% $1 Referral Users Refer Others (cust sat >=8; viral K factor > 1; ) 1% $5 Revenue Users Pay / Generate $$$ (first txn, break-even, target profitability) 2% $50
- 31. [M aarrr keting Metrics]
- 40. Appendix
- 64. Website.com Focus on driving referrals * after * users have a “ happy ” experience; avg score >= 8 out of 10 Referral Acquisition SEO SEM Apps & Widgets Affiliates Email PR Biz Dev Campaigns, Contests Direct, Tel, TV Social Networks Blogs Domains Retention Emails & Alerts System Events & Time-based Features Blogs, RSS, News Feeds
- 69. Website.com Revenue This is the part *you* still have to figure out… (we don’t know jack about your business) R evenue $$$ Biz Dev Ads, Lead Gen, Subscriptions, ECommerce Acquisition SEO SEM Apps & Widgets Affiliates Email PR Biz Dev Campaigns, Contests Direct, Tel, TV Social Networks Blogs Domains Retention Emails & Alerts System Events & Time-based Features Blogs, RSS, News Feeds
Editor's Notes
- BUILT TO LEARN This is the core feedback loop that powers startups. Their goal is not to optimize the time it takes to do any one of these steps. There are many specific practices that can power lean startups, and we’ll cover a few in this presentation. But more important than any specific practice is this core idea: startups should be built to learn.
- I know, too many bullets…
- If you don’t remember anything else, perhaps this graphic & the next 2-3 might be useful.
- Qualitative: SurveyMonkey (surveys), CrazyEgg (heatmap), TechSmith Morae / UserVue (ux recording), RobotReplay, TapeFailure. Quantitative: Google Analytics (free), MyBlogLog, ClickTracks, Index Tools, Visual Sciences / Webside Story, Omniture, WebTrends, etc. Comparative: Google Website Optimizer, SiteSpect, Optimost, Offermatica, Vertster, Kefta. Competitive: Quantcast, Compete.com, Alexa, Hitwise, Comscore, Nielsens. see more info at: http://webanalyticsassociation.com/ (WAA) http://kaushik.net/ (Avinash Kaushik) http://grokdotcom.com/ (Eisenbergs) http://www.emetrics.org/ (Jim Sterne)