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StartUp Metrics Lesson Learned - LeanCamp Barcelona

Date post:21-Oct-2014
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I have given this talk at LeanCamp Barcelona and roughly the same at Hackernews London. It's an extended and updated version of the previous LeanCamp London talk. Feedback highly welcome.
Transcript:

METRICSLESSONS

[email protected]

#LEANCAMP | @andreasklinger

Andreas Klinger

CWTFO of LOOKK @andreasklinger

Slides: http://www.slideshare.net/andreasklinger

LOOKK | COND NAST | 10-14-2011 | 3

STARTuP

LOOKK | COND NAST | 10-14-2011 | 4

STARTuPBEFORE PRODuCT

MARKET FIT

LOOKK | COND NAST | 10-14-2011 | 5

STARTuPBEFORE PRODuCT

MARKET FIT

BLuE OCEAN

LOOKK | COND NAST | 10-14-2011 | 6

STARTuP

BLuE OCEAN

BEFORE PRODuCT MARKET FIT

MADNESS

www.LOOKK.com

4 Biggest (development) Problemswe had/have:

OvER ENgINEERED

AND OvER CONCEPTED

FEATuRES

SOLuTION?FEATuRE

ROLLOuTS IN A/B

NO DATA

DRIvEN STARTuP CuLTuRE

SOLuTION?gOINg MENTAL

ON METRICS.

BLOCKED PROCESSES

SOLuTION? KANBAN

BOARD

LOOKK | COND NAST | 10-14-2011 | 8

+1

uNCLEARuSER vALuE

PROP(PRE-PMF)

SOLuTION?CuSTDEv

?

4 Biggest (development) Problemswe had/have:

OvER ENgINEERED

AND OvER CONCEPTED

FEATuRES

SOLuTION?FEATuRE

ROLLOuTS IN A/B

NO DATA

DRIvEN STARTuP CuLTuRE

SOLuTION?gOINg MENTAL

ON METRICS.

BLOCKED PROCESSES

SOLuTION? KANBAN

BOARD

LOOKK | COND NAST | 10-14-2011 | 9

+1

uNCLEARuSER vALuE

PROP(PRE-PMF)

SOLuTION?CuSTDEv

+uSERgROuP

IN FB

?

LOOKK | COND NAST | 10-14-2011 | 10

BuZZ IS OK

NuMBERS ARE OK

FEEDBACK IS OK

MEDIA IS OK

YOu?

LOOKK | COND NAST | 10-14-2011 | 11

BuZZ IS OK

NuMBERS ARE OK

FEEDBACK IS OK

MEDIA IS OK

SOMETHINgIS WRONg

TRAFFIC SPIKES

NO STICKYNESS

PuSHES DONT LIFT TRAFFIC

YOu?

LOOKK | COND NAST | 10-14-2011 | 12

BuZZ IS OK

NuMBERS ARE OK

FEEDBACK IS OK

MEDIA IS OK

SOMETHINgIS WRONg

TRAFFIC SPIKES

NO STICKYNESS

PuSHES DONT LIFT TRAFFIC

YOu?

vANITY WHAT ACTIONS WORK?

vANITY METRICS

ESPECIALLY:- Registered users- Facebook Fans

Always goes up.

vANITY METRICS

ESPECIALLY:- Registered users- Facebook Fans

Always goes up.

Not actionable

vANITY METRICS v2

- visitors / Month- users / Month

Tell you nothing

Usually more related to external factors (PR, Search, etc)

OF THIS MONTH

vANITY METRICS v2

- visitors / Month- users / Month

Tell you nothing

Usually more related to external factors (PR, Search, etc)

OF THIS MONTH

* Tell you nothing about the health of your business or product !K\ccpflefk_`e^XYflkk_\\\Zkjf]pflinfib% \oZ\gk`fe1`kd`^_kj_fnk_Xkm`iXcfigX`[kiXZnfibj

Its a like a shop saying we do good there are now more people on the street and not actionable

BEFORE PRODuCT MARKET FIT

FOCuS ONRETENTION

#LEANCAMP | @andreasklinger

BEFORE PMFFOCuS ON RETENTION

http://www.ashmaurya.com/2010/07/3-rules-to-actionable-metrics/

Summary:In Discovery/validation

Focus on Retention & Activation

In validation/growth Focus on Revenue and Referral

THE REASON:

RETENTION=

f(uSERHAPPINESS)

#LEANCAMP | @andreasklinger

RETENTION = f(uSERHAPPINESS)Actually you dont want to measure retention.

You want to measure user Happiness.Especially before PMF.

Rentention is the best signal for userhappiness.

But if you can - narrow down your KPIs to show user happiness and the health of your product.

If you are multi sided (eg. buyers/sellers) segment each group seperately

IF YOu WILL DO ONE THINg ONLY:FOCuS ON uSER HAPPINESS

KPIS NEED TO BE

YOuR HEALTH MONITOR

#LEANCAMP | @andreasklinger

KPIS NEED TO BE

YOuR HEALTH MONITOR

What numbers do actually show you the (real) health of your product?

What numbers could show user happiness?

E.g. Crashpadder.com (privat room rentals) calculates an activity/happiness score for each Host. And then creates groups (cohorts) for each city and

compares over time.

IN PRODuCT DISCOvERY

MARKETINgCAN HuRT

YOuR NuMBERS

#HNLONDON | @andreasklinger

(WRONg) MARKETINg STuNTS (CAN) HuRT YOuR (ACTIONABLE) NuMBERS

E.g. PR BuRSTS OR COMPETITIONS- Created visits in google Analytics- Created userentries in Database- Disappeared.- Lower your retention and activation (%) rates - Defocus you from understanding our product.

Example: LOOKKWe asked users to vote designers in a competition.

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