startup metrics - crash course

Metricsa data-driven crash course by Skander Garroum

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Skander Garroum“Startup obsessed since 15” “Product + marketing = Growth”

What we will talk about!- Being Data-Driven - Metrics - The simplest dashboard

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How many of you are data-driven?

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What does being data-driven mean?

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If you can’t measure it, you can’t manage it

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Instincts are experiments. Data is proof.

If you can’t measure it, you can’t manage it!

If we have data, let's look at data. If all we have are opinions, let's go with mine.

Jim Barksdale, Netscape!

Data beats emotions. Sean Rad

!Anything that is measured and watched, improves.

Bob Parsons

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GET AS MUCH DATA AS POSSIBLE!

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Don’t get too fancy too early

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3 things to take away

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1 What is a good metric? !

2 Pirate metrics

3 The simplest dashboard

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What is a good metric?

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A good metric is !

understandable !

comparative !

changes the way you behave

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4 things to keep in mind when choosing metrics

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quantitative vs qualitative

4 things to keep in mind when choosing metrics: No. 1

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4 things to keep in mind when choosing metrics: No. 1

VS

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vanity vs actionable

4 things to keep in mind when choosing metrics: No. 2

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4 things to keep in mind when choosing metrics: No. 2

VS

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exploratory vs reporting

4 things to keep in mind when choosing metrics: No. 3

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4 things to keep in mind when choosing metrics: No. 3

VS

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correlated vs causal

4 things to keep in mind when choosing metrics: No. 4

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4 things to keep in mind when choosing metrics: No. 4

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Time to become pirates!

AARRR!

Acquistion Visit / Signup / etc. // How do users become aware?

Activation Use of core feature // Do they activate?

Retention Come + use again // Do they become engaged?

Referral Invite + Signup // Do they promote?

Revenue $$$

(C) Dave McClure

Pirate Metrics to track Element Relevant metrics

Acquisition traffic, mentions, cost per click, search results, cost of acquisition, open rate

Activation enrollments, signups, com- pleted onboarding process, used the service at least once, subscriptions

Retention engagement, time since last visit, daily and monthly active use, churns

Revenue Customer lifetime value, con- version rate, shopping cart size, click-through revenue

Referral Invites sent, viral coefficient, viral cycle time

(C) Lean Analytics

Last but not least:The simplest dashboard

If you treat your paying customers like percentages and meaningless numbers

they will do the same with you.Andreas Klinger

Enter: The activity index

(C) Andreas Klinger

1) Create a customer list!2) Add activity information

3) Color highlight based on activity !

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4) Someone in the team is in charge of making sure everyone stays on green!

(C) Andreas Klinger

1 What is a good metric? !

2 Pirate metrics

3 The simplest dashboard

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Thank you

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@SkaGarroum!Slides: www.slideshare.net/skagarroum