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#ANALYTICSfor Startups
(before Product Market Fit)
www.popcornmetrics.com [email protected] @popcornmetrics
awesome session on #startup #analytics by @paulmboyce @lisbonchallenge
www.popcornmetrics.com [email protected] @popcornmetrics
startup = growth.http://www.paulgraham.com/growth.html
metrics exist to help you grow
www.popcornmetrics.com [email protected] @popcornmetrics
startup = finding PMF
metrics exist to help
you find Product Market Fit
www.popcornmetrics.com [email protected] @popcornmetrics
Quick Exercise:
What are the top metrics you watch daily?
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What’s more useful?
1000 signups - quantity1000 signups/wk - speed
7% more signups/wk (than last wk) - acceleration
www.popcornmetrics.com [email protected] @popcornmetrics
A “Good” Metric is:Ratio/Rate: “%, per hr/day” Comparative: “vs last week”Actionable: “not vanity”Understandable: “whole team”
www.popcornmetrics.com [email protected] @popcornmetrics
“keeping as many users for
as long as possible.”
www.popcornmetrics.com [email protected] @popcornmetrics
value
if you aren’t retaining:● low LTV ● limited channels● less referrals ● Q: “are you giving value?”
www.popcornmetrics.com [email protected] @popcornmetrics
Watch Alex
Schulz https://www.youtube.com/watch?v=n_y
HZ_vKjno
www.popcornmetrics.com [email protected] @popcornmetrics
BAD RetentionCOHORTS SHRINK
SOURCE: Dan Wolchonok (Hubspot)
www.popcornmetrics.com [email protected] @popcornmetrics
GOOD RetentionCOHORTS RETAIN
SOURCE: Dan Wolchonok (Hubspot)
www.popcornmetrics.com [email protected] @popcornmetrics
“If you don’t have good retention, nothing else
matters.”
Brian Balfour, VP Growth, Hubspot
www.popcornmetrics.com [email protected] @popcornmetrics
How to build a retention curve:
go read this article:bit.ly/retention-curve
www.popcornmetrics.com [email protected] @popcornmetrics
Average Retention:
1.5m Android apps
SOURCE: QUETTRA / ANDREW CHENhttp://andrewchen.co/new-data-shows-why-losing-80-of-your-mobile-users-is-normal-and-that-the-best-apps-do-much-better/
www.popcornmetrics.com [email protected] @popcornmetrics
Retention: Top 5000Android
apps
SOURCE: QUETTRA / ANDREW CHEN
www.popcornmetrics.com [email protected] @popcornmetrics
GOAL: Push the curve up.
prioritiseday1, week1
SOURCE: POPCORNMETRICS.COM
www.popcornmetrics.com [email protected] @popcornmetrics
Connect people to the value- in the shortest time.
facebook: 7 friends in 10 dayszapier: create your first Zapairbnb: find a “cool” listingtrello: create project, add coworkersintercom.io: send first message
www.popcornmetrics.com [email protected] @popcornmetrics
5 ideas to test:TARGET: first few days, especially D1● messaging● onboarding flow● find your “magic moment”● look at best users● get to value ASAP
www.popcornmetrics.com [email protected] @popcornmetrics
Funnel Strategy:
● Look for biggest drop-offs● Prefer upstream (benefits flow)● Create sub-funnels to zoom in
www.popcornmetrics.com [email protected] @popcornmetrics
www.popcornmetrics.com [email protected] @popcornmetrics
Benchmarks.- how well are you doing?
(I pulled these from Lean Analytics book)
www.popcornmetrics.com [email protected] @popcornmetrics
user content:pinterest: 14 mins, tumblr: 21 mins, facebook:60 mins
Time on Site: 17mins / day-------------------------------------------------------------------------------------
5-15% generate content80% content < 2% of users
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e-commerce:amazon: 9.6%, ebay: 11.5%
-------------------------------------------------------------------------------------
startups: 1-3%
2% -> 10% : loyal | skus | repeat4.5% mobile searches >> purchase
www.popcornmetrics.com [email protected] @popcornmetrics
SaaS:Start Trial: 5-10%
Subscribe: 15-25%Churn: 2% <5%
-------------------------------------------------------------------------------------
Upsell 20% (annual $)TRIALS: 20% serious | 20% casual | 60% curious
www.popcornmetrics.com [email protected] @popcornmetrics
5-7% weekly growth
www.popcornmetrics.com [email protected] @popcornmetrics
http://www.paulgraham.com/growth.html
awesome session on #startup #analytics by @paulmboyce @popcornmetrics
www.popcornmetrics.com [email protected] @popcornmetrics
Not all channels are equal.
(or, how to cut CAC by 40%)
www.popcornmetrics.com [email protected] @popcornmetrics
CHANNEL METRICSvia Google Analytics
(assuming you’ve got good retention)
www.popcornmetrics.com [email protected] @popcornmetrics
1. get a baseline.2. get inspiration.3. prioritise ideas.4. run experiments.5. measure results.6. learn what works. 7. repeat.
www.popcornmetrics.com [email protected] @popcornmetrics
7step
formula:
Checklist:1. Focus on ONE part of AARRR2. Install tools3. Create High Level Funnel4. Create Cohort Report5. Create Retention Curve6. Figure out how to improve RetentionCould you drive from just one metric for the
next x months?
www.popcornmetrics.com [email protected] @popcornmetrics
Lastly:● NPM - net promoter score
(Sean Ellis)● Habits (Hooked, Nir Eyal)
www.popcornmetrics.com [email protected] @popcornmetrics
that blog post (again):
bit.ly/retention-curve
www.popcornmetrics.com [email protected] @popcornmetrics
I’m inspired by:
Alex Schultz (VP Growth Facebook),
Brian Balfour (VP Growth Hubspot), Dan Wolchonok (Growth Hubspot) Andrew Chen (essays on growth)
www.popcornmetrics.com [email protected] @popcornmetrics
3 months FREE for Lisbon Challengers
signup at: http://PopcornMetrics.com
www.popcornmetrics.com [email protected] @popcornmetrics
here’s the code:
LC2016H1100X14(use before end Nov 2016)