analytics 101 for startups

Download Analytics 101 for startups

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  1. 1. ANALYTICS101 For Startups
  2. 2. Whats coming up? What to measure? Pirate metrics 101. What tools can I use? What does GoSquared track?
  3. 3. What should a startup measure?
  4. 4. Subscribers Activations Views Churn Cancelations Big Data Upgrade Uniques Impressions ransactions Repeats Pageviews Comments Downgrades Conversions Visits otations Follows Cohorts Growth Upsells Hits Goals Favourites Engagement
  5. 5. Track everything.* Focus on what matters.* Everything you can think of. You never know when you might need it.
  6. 6. ProtipVanity metrics are everywhere.
  7. 7. We need to focus on metrics that help us track our business.
  8. 8. Lets take a look at one of the best ways to do that
  9. 9. Pirate metrics (none of these people are Dave McClure)
  10. 10. A A R R R
  11. 11. Acquisition Activation R etention R evenue R eferral
  12. 12. Acquisition How you gain new users.
  13. 13. Track things likeTotal signups CAC (Customer Acquisition Cost) Leading indicators: Twitter Followers New unique visitors to site Facebook likes Subscribers to mailing list
  14. 14. Activation Turning mere signups into activated users. (Get the on-boarding right)
  15. 15. Some rather successful companies track things likeUser follows more than 15 people. Installs tracking code. Downloads and installs the native app. Finds what they searched for in under 10 seconds.
  16. 16. RetentionUSING OUR PRODUCT
  17. 17. Retention Keeping users happy. Reducing churn.
  18. 18. Track things likeChurn % of users who cancel in a given timeframe DAU / WAU / MAU (Daily / Weekly / Monthly Active Users) Customer Support metrics
  19. 19. Revenue Making money. Crazy, huh?
  20. 20. Track things likeMRR (Monthly Recurring Revenue) Average MRR / user AOV (Average Order Value) CLTV (Customer Lifetime Value)
  21. 21. Referral
  22. 22. Referral People like your product enough to recommend it to their friends.
  23. 23. Track things likeNPS (Net Promoter Score) No. of signups via referral
  24. 24. Cohort analysis
  25. 25. What is cohort analysis? Cohort analysis allows a company to see patterns clearly across the lifecycle of a customer (/user), rather than slicing across all customers blindly without accounting for the natural cycle that a customer undergoes. Source: Alistair Croll; Benjamin Yoskovitz. Lean Analytics: Use Data to Build a Better Startup Faster
  26. 26. Track by cohort Break metrics apart. Helps you understand how you are improving things.
  27. 27. % of users who signed inCohort analysis for sign in activityTimeSignups in October Signups in DecemberSignups in November Signups in JanuarySignups in February
  28. 28. Toolsunsplash.com
  29. 29. Analytics Some basicsWordpress (Jetpack Stats) Facebook Insights Twitter Analytics
  30. 30. Analytics Next stepsGoSquared Clicky ChartbeatKISSmetrics Gauges Mixpanel
  31. 31. Analytics Full featured, but complexGoogle Analytics Omniture WebTrends Piwik
  32. 32. A/B testing
  33. 33. Visualising data
  34. 34. ProtipLearn to love MySQL.
  35. 35. What does an analytics company like GoSquared track?
  36. 36. Metrics we obsess over Signups (by source) Activations by signup week DAU, WAU, MAU NPSMRR, MRR / customer CLTV
  37. 37. Set targets. Track everything. Focus. Always be testing. Ask so what?
  38. 38. Most importantlyAct now. Not tomorrow.
  39. 39. Youve been viewingAnalytics 101 for Startups byThe GoSquared Team
  40. 40. Sources Pirate Metrics by Dave McClure: http://www.slideshare.net/dmc500hats/startup-metrics-for-pirates-long-version Lean Analytics: Alistair Croll; Benjamin Yoskovitz. Lean Analytics: Use Data to Build a Better Startup Faster!Images !http://littlevisuals.co/ http://unsplash.com/ http://wallpaperswide.com/pirates_of_the_caribbean_on_stranger_tides_2011_movie-wallpapers.html Olly Plumstead: https://www.facebook.com/media/set/?set=a. 10152234031736354.1073741826.138182321353&type=1&l=bd5230316c