lean startups en el mundo real ejemplos y metricas
Post on 01-Nov-2014
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#SGStartups
Lean Startups in the Real World
Hugo Stevens Startup Factory
The Applica;on
Personalized urban
alert system
Personalized intelligent
alert system for urban
areas, based on mobile
devices to aggregate
aBen;on from a large
number of poten;al
users.
How it started
First version
Current App
User growth
Growth in Pageviews
How to get there: Reference Models
• Market: – Who is the customer? What’s their pain? How much would they pay?
• Solu6on: – What features to build? Are features feasible to build/offer?
• Go-‐to-‐market: – Which Channels? What’s the cost per channel? Scalable?
• Business Model: – Sources of revenue? Costs? Plan vs. Real? Profitable?
Keep it Simple: Key ques;ons in the real world
The Process: Find the right combina;on
• Customer interviews – Problem interview – Solu;on interview
• Product Prototyping – Open source plaQorms (Wordpress, etc.) – Amazon Web Services, web providers (SMS)
• Metrics & Analy6cs – Google Analy;cs – Offline sta;s;cs
• Financial modeling – Predicted model @ Excel – Updates based on real metrics
Tools
The process: Step by Step
Build + Measure + Learn 1. Unbounce + Google AdWords 2. Keynotopia 3. Weebly + dummy content + basic Google Analy;cs 4. Wordpress + themes + real content + conversions @ Google
Analy;cs 5. AdWords + FB ads + LinkedIn Ads + social distribu;on 6. Version 1.0 + advanced Google Analy;cs 7. Version 2.0 + usage metrics (mix panel)
Key: The Not To Do List
Don’t: 1. Speak to the press on day one 2. Build a complete product from the ground up 3. Think about your idea for 6 months 4. Build an architecture for 1,000,000,000 users 5. Try to change users’ behavior 6. Add 1,000 features 7. Start with a big team
The Process: how to know if you’re right?
AARRR 1. Acquisi;on 2. Ac;va;on 3. Reten;on 4. Referral 5. Revenue
Which metrics go where? (and in what order)
Metrics vs. element to validate 1. Market metrics: Acquisi;on & Ac;va;on
• Search volume, CTR 2. Product metrics: Ac;va;on & Reten;on
• Conversion %, A/B tests for features, reten;on 3. Distribu;on metrics: Acquisi;on & Referrals
• Cost per channel, volume per channel, viral coefficient 4. Business Model metrics: Revenue + all others
• Revenue per user, LTV
Metrics per unit (i.e. %’s)! (vs. vanity metrics)
Real World Metrics
• Key metrics: – Users looking for traffic informa;on (market pain):
– CTR: 15% for main keywords, 3% overall – Interviews with customers confirming need for personalized alerts
Real World Metrics
• Key metrics: – Users finding the product interes;ng (product features):
– Conversion: 12% overall (80% complete registra;on process) – Started lower; ini;ally about 50% dropped during registra;on
process. Improved design, overhauled registra;on process – Customer Acquisi;on Cost: made adjustments that cut it in half – Aner registra;on, between 40%-‐50% of users clicked on links for
smartphone versions of the applica;on (1. BB 2. iPhone 3. Android) – Distribu;on of mobile apps at Appstores doubled user base in 4
weeks – without promo;onal ac;vi;es
Real World Metrics
• Other hypotheses: – Imperfect/incomplete product s;ll beBer than alterna;ves – Sharing FB/personal info is ok for users (also faster/simpler) – Simplicity in interface is key (vs. compe;;on) – Confirm CTR @ different mediums (cell phones vs. smartphones, display
ads vs. clickable ads, personalized coupons, etc.) – Confirm CPC and who pays (agencies vs. marke;ng departments)
Lessons Learned
Lessons & recommenda6ons 1. Pick a large poten;al market to begin with 2. Focus on what users are already trying to do 3. At the beginning, it’s Pass/Fail, not A/B 4. Mobile first (and it’s very different from desktop) 5. Don’t push features – test your roadmap 6. Do quick experiments – start with the expected results 7. It’s not about money -‐ tes;ng a whole concept can cost as liBle as
$500 USD 8. Almost anything can be tested: physical products, physical
distribu;on, etc. 9. Distribu;on is king – consider all channels (online & offline) and
mul;ple plaQorms 10. React quickly – the market doesn’t wait
Summary of results
Key numbers: 1. User growth: ~3.5X 2. Pageviews growth: ~10X 3. Pages/vist growth: ~2.5x 4. User acquisi;on reduc;on: ~10X
Next Steps
To infinity and beyond (but only the paranoid survive)
Tools
Learn to use all of these: 1. In-‐person interviews 2. Unbounce 3. Wordpress + themes 4. Google Analy;cs 5. AdWords/FB ads/AdMob/LinkedIn ads 6. Social media tools 7. Keynotopia 8. Paypal 9. MixPanel 10. Lean Launch Lab 11. Phone calls 12. Stands @ physical stores/flyers/etc
Contact
Hugo Stevens www.StartupFactory.com.mx
Disruptors.mx @hugostevens
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