Startup Metrics 4 Pirates (London, March 2011)
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The document provides an overview of startup metrics presented by Dave McClure. It discusses the AARRR pirate model for evaluating acquisition, activation, retention, referral, and revenue metrics. It emphasizes measuring key conversion events like clicks, emails, usage to optimize the product, marketing and determine what customers value most.
![Dave McClure ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],GEEK, CODER, ENTREPRENEUR Blogger, Marketing, Angel/VC Investor](data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7)
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Startup Metrics 4 Pirates (London, March 2011)
- 1. Startup Metrics 4 Pirates Geek n Rolla London – March 2011 #GKNR #LeanStartup Dave McClure @DaveMcClure http://www.500startups.com http://500hats.typepad.com http://slideshare.net/dmc500hats AARRR !
- 3. 500 Startups Seed Fund & Accelerator (100+ investments @ ~$75K avg) Wildfire Crave Tello AwayFind Indinero MyGengo Revnetics Mogotix EcoMom Zencoder GazeHawk Crocodoc SayHired Recurly AppBistro Foodspotting Gantto Medialets Rapportive TransFS SiteJabber GinzaMetrics Estately FlowTown OneForty Twilio Postling Plancast ElaCarte WePay Zappli Format Baydin GroupSpaces Rapportive Apsalar Bunndle Udemy Brainient ReadyForZero Graphicly StoryJumper OtherInbox Viikii Zozi One True Fan Formative Labs Networked Blogs
- 4. [ This Talk ]
- 8. [ Interesting Shit ]
- 9. Read Geoffrey Miller Sex + Evolution + Consumer Mktg = Awesome Sauce
- 10. Other Great Shit. Psychology + Comics
- 11. [The Lean Startup]
- 13. Discover Customers (Steve Blank, SteveBlank.com)
- 14. Iterate , Dammit. (Eric Ries, StartupLessonsLearned.com) LEARN BUILD MEASURE IDEAS CODE DATA
- 15. Product/Market Fit b4 “Launch” (Sean Ellis, Startup-Marketing.com) Startup-Marketing.com
- 16. [Startup Metrics 4 Pirates ]
- 20. AARRR! : 5-Step Startup Metrics Model Website.com R evenue $$$ Biz Dev Ads, Lead Gen, Subscriptions, ECommerce A CQUISITION SEO SEM Apps & Widgets Affiliates Email PR Biz Dev Campaigns, Contests Direct, Tel, TV Social Networks Blogs Domains R etention Emails & Alerts System Events & Time-based Features Blogs, RSS, News Feeds
- 22. [ Constructing MVP ]
- 27. Example Conversion Metrics (note: *not* actuals… your mileage may vary) Stage Conversion Status Conv. % Est. Value (*not* cost) Acquisition Visitors -> Site/Widget/Landing Page (2+ pages, 10+ sec, 1+ clicks = don’t abandon) 60% $.05 Activation “ Happy” 1 st Visit; Usage/Signup (clicks/time/pages, email/profile reg, feature usage) 15% $.25 Retention Users Come Back; Multiple Visits (1-3x visits/mo; email/feed open rate / CTR) 5% $1 Referral Users Refer Others (cust sat >=8; viral K factor > 1; ) 1% $5 Revenue Users Pay / Generate $$$ (first txn, break-even, target profitability) 2% $50
- 28. [ Getting 2 PMF ]
- 31. Better or Different . Funny! Shocking !!! Accepted Not Funny.
- 32. [ Testing 4 AUX ]
- 33. Discover Meaning Why Should Users Give a SHIT About You? Kathy Sierra: “ Creating Passionate Users”
- 35. How 2 Tell if Design is Good?
- 36. [ Metrics 4 ACQ ]
- 40. [ What is WINNING? ]
- 41. # TigerBlood 4 Startups # WINNING
- 43. [ The Lean Investor ]
- 48. [ Don’t Pitch Me, Bro. ] Seriously : Don’t. Fucking . Pitch Me. (and don’t email me either, cuz i won’t read it)
- 51. Appendix
- 70. 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
- 75. 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
- 79. 500 Hats Investments (13+ deals, 2004-2008, ~$310K) Results: 1 exit @ $170M (9x) , +3-6 future wins (i hope ;) 2 exits @ $50M, $70M (advisory roles) (acq YHOO) (acq GOOG) (acq INTU)
- 80. Founders Fund Investments (43 deals, 2009, ~2.9M) Results : 8 raised seed rd $500K+ 1 raised $4M; 3 early exits Results : 6 raised next rd $2M+ 1 raised $12M; 1 early exit fbFund REV (Facebook Incubator) 22 deals ($850K total) ~$40K avg FF Angel LLC 21 deals ($2M total) ~$100K avg
Editor's Notes
- I know, too many bullets…
- 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)