"how to choose the right metrics for your startup?" by balthazar de lavergne
Post on 24-Jan-2017
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HOW TO CHOOSE THE RIGHT METRICS FOR YOUR STARTUP?
#TFWORKSHOP
1
TheFamily
code: lamifasisi
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BALTHAZAR DE LAVERGNE PARTNER @THEFAMILY
HOW TO CHOOSE THE RIGHT METRICS FOR YOUR STARTUP?
METRICS ✓ Slack has 2M daily active users✓ Deezer has 6.6M subscribers✓ 240 people attending this workshop on meetup.com
VANITY VS BUSINESS ✓ #sessions, applicants etc.✓ #transactions, active users etc.
COMMUNICATION ✓ Adapt depending on who you talk to✓ What should you hide ?
GROWTH IS THE METRIC
✓ DON’T GET DISTRACTED
✓ RUN AFTER IT
GROWTH FORMULA ✓ Compound growth✓ (Week N / Week 1) ^ ( 1/N ) - 1
MEET THE EXPONENTIAL
✓ 10 000 users✓ One year at 7% WoW—> 337 000✓ Two years —> 11 373 991
YOU WANT THAT ? ✓ What you measure gets better✓ So focus on one metric✓ WoW, MoM ?
WHAT METRIC SHOULD YOU CHOOSE ?
FIGURE OUT WHAT YOU AIM FOR
BEFORE P/M FIT ✓ Conversion rate, emails, pre-orders, …
AFTER P/M FIT ✓ DAU, MRR, #of transactions …
ORGANISE YOUR METRICS
✓ Choose the most downstream metric✓ Create your funnel
ECOMMERCE ✓ Point of contact (CTR)✓ Visitor (Bounce rate)✓ User (Conversion rate)✓ Buyer (Conversion rate)✓ Customer (Referral, Repeat)
:APP ✓ Point of contact✓ Download✓ Activation✓ Buyer✓ Ambassador
SAAS ✓ Point of contact✓ Demo / Trial✓ Converted User✓ UpSell
FOCUS ON TRANSFORMATIVE
IMPACT ✓ Especially in the beginning✓ No incremental✓ No A/B test
AARRR ✓ A simple framework✓ Don’t be fooled by the order
ACQUISITION ✓ It’s a growth problem✓ Anything should be considered✓ Organise your days
ACTIVATION ✓ You NEED that✓ % of conversion✓ Focus on value & experience
RETENTION ✓ Find the Ahah moment✓ Use a cohort✓ Focus on the important features
REFERRAL ✓ Word of Mouth, Incentive✓ Virality: K factor. K = i * c✓ K > 1
REVENUE ✓ Every good company makes money✓ MRR, ARR …
FOCUS ON RETENTION
BUSINESS METRICS
UNIT ECONOMICS
CAC
LTV
PAID VS FREE ACQUISITION
✓ Margin ? ✓ Time needed ? ✓ Segmenting ?✓ Scale ?
GOOD METRICS ? ✓ CTR✓ Email opening rate✓ Landing page conversion rate✓ Retention (Before/After P/M Fit)✓ Growth ✓ #of users
SEE YOU SOON!
LOVE.
THEFAMILY.CO
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