analytics for startups
Post on 19-Aug-2015
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1 The data problems that startups face
We’ll cover…
2 Gateway metrics
3 4 gateways and the metrics for each
#KISSwebinar
1 MRR, Churn, LTV, acquisition cost
It’d be great to track metrics like these:
2 Virality, DAU, MAU
3 Average order value, repurchase rate
#KISSwebinar
4 Funnels and conversions
When picking metrics, always ask yourself:
What’s my biggest constraint right now and which metric will tell me
if I’m making progress?
Bad metrics for this gateway:
1 Asking people if they’ll pay
2 AdWords clicks
3 Beta or waiting list signups
4 Traffic
What is the P/M Fit Question?
1 Very disappointed
2 Somewhat disappointed
3 Not disappointed (it isn’t really that useful)
How would you feel if you could no longer use [your product]?
Your goal for the P/M Fit Question:
At least 40% of users should say “Very disappointed.”
*Sean Ellis and Hiten Shah get credit for this one.
You have plenty of options to choose from:
1 Inbound (Google, Content, Social)
2 Paid (PPC, Affiliates)
3 Virality (Invites, Referrals)
Pick just one to start
Work on your channel for at least 3 months. Assume it’ll work and get the resources needed to execute.
Main business metrics:
1 SaaS: Monthly Recurring Revenue
2 Ecommerce: Monthly Revenue
3 Consumer Tech: Monthly Active Users
Why not cost per acquisition or lifetime value?
You have no idea how much it costs to acquire customers or how
much they’ll spend (yet).
The SaaS Model
1 LTV is at least 3x acquisition cost
2 Recover acquisition cost within 12 months
3 Get monthly churn below 2%
The Consumer Tech Model
1 Virality > 1
2 Usage 3 out of 7 days
3 30% of users active day after signup
4 Organic growth of 100s signups/day.
5 Clear path to 100,000+ users
*Andrew Chen’s “Zero to Product/Market Fit”
How to get data you really need:
1 One team owns data quality.
2 Hire a data engineer.
3 Clean up and integrate your data.
4 Use customer analytics.
5 Build a Growth Team.
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