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

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

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Pretty good feedback…

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

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Ben Yoskovitz, Co-author, Lean Analytics and VP Product, VarageSale talks about the One Key Metric that matters and how to use data to build a better startup faster. Traction Conf Vancouver 2015 - http://tractionconf.io.

Ben Yoskovitz, Co-author, Lean Analytics and VP Product, VarageSale talks about the One Key Metric that matters and how to use data to build a better startup faster. Traction Conf Vancouver 2015 - http://tractionconf.io.

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

  1. 1. Lean Analytics 440 pages in 15 minutes Ben Yoskovitz byosko@gmail.com @byosko
  2. 2. Pretty good feedback…
  3. 3. But you can’t please everyone…
  4. 4. The core of Lean is iteration
  5. 5. Unfortunately, we’re all liars.
(go ahead, admit it, it’s OK)
  6. 6. 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.!
  7. 7. Analytics is the measurement of movement towards business goals.
  8. 8. Pick one metric that matters to your business right now.
  9. 9. The metric will change over time, but right now you need to FOCUS.
  10. 10. 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.
  11. 11. If a metric won’t change how you behave… it’s a bad metric.
  12. 12. Lean Analytics Stages
  13. 13. 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.
  14. 14. 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. Most startups fail at this stage!
  15. 15. Business Models
  16. 16. 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
  17. 17. WineExpress A/B test A B
  18. 18. 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
  19. 19. Lean Analytics Cycle
  20. 20. 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!
  21. 21. Once, a leader convinced others! in the absence of data.!
  22. 22. Now, a leader knows what questions to ask.!
  23. 23. Thank you Ben Yoskovitz! byosko@gmail.com! @byosko! Alistair Croll! acroll@gmail.com! @acroll!

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