how to optimize your product and business using analytics · 2020-05-14 · how to optimize your...
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![Page 1: How to Optimize Your Product and Business Using Analytics · 2020-05-14 · How to Optimize Your Product and Business Using Analytics Dan Olsen August 2017 . My Background Educaon](https://reader030.vdocuments.us/reader030/viewer/2022041021/5ed078ec6841871c0052cd86/html5/thumbnails/1.jpg)
How to Optimize Your Product and Business Using Analytics Dan Olsen August 2017
![Page 2: How to Optimize Your Product and Business Using Analytics · 2020-05-14 · How to Optimize Your Product and Business Using Analytics Dan Olsen August 2017 . My Background Educaon](https://reader030.vdocuments.us/reader030/viewer/2022041021/5ed078ec6841871c0052cd86/html5/thumbnails/2.jpg)
MyBackgroundEduca/onn Engineeringbackgroundn StanfordMBAn UXdesignandcodingExperiencen Managednuclearsubmarinedesignn ProductManagementleaderatIntuitn CEO&Cofounder,TechCrunchawardwinnerYourVersionn PMconsultant:Box,Facebook,MicrosoK,Medallian Founder:LeanProductSiliconValleyTwiMer:@danolsenMyslides:hMp://dan-olsen.com Copyright©2017@danolsen
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n BookgiveawayonTwiMern Tweet:include@danolsenn Hashtags
#leanstartup#prodmgmt#growth
n hMp:///ny.cc/LPP
That’sWhyIWrote
Copyright©2017@danolsen
![Page 6: How to Optimize Your Product and Business Using Analytics · 2020-05-14 · How to Optimize Your Product and Business Using Analytics Dan Olsen August 2017 . My Background Educaon](https://reader030.vdocuments.us/reader030/viewer/2022041021/5ed078ec6841871c0052cd86/html5/thumbnails/6.jpg)
Iden/fyhighestROIidea
DesignandImplement
AnalyzeHowtheMetricChanges
BrainstormIdeasto
ImproveMetric
Copyright©2017@danolsen
LeanProductAnaly/csProcess
Iden/fyWhatYourMetricsAre
MeasureMetricsBaselineValues
EvaluateMetricsUpsidePoten/al
GlobalLevel
MetricLevel
SelectTopMetric
Learn&Iterate
![Page 7: How to Optimize Your Product and Business Using Analytics · 2020-05-14 · How to Optimize Your Product and Business Using Analytics Dan Olsen August 2017 . My Background Educaon](https://reader030.vdocuments.us/reader030/viewer/2022041021/5ed078ec6841871c0052cd86/html5/thumbnails/7.jpg)
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Focusonrightmetricatright/me
Iden/fyyour“MetricthatMaMersMost”
(MTMM)
Copyright©2017@danolsen
What’stherightordertoop/mize?acquisi/onconversionreten/on
![Page 13: How to Optimize Your Product and Business Using Analytics · 2020-05-14 · How to Optimize Your Product and Business Using Analytics Dan Olsen August 2017 . My Background Educaon](https://reader030.vdocuments.us/reader030/viewer/2022041021/5ed078ec6841871c0052cd86/html5/thumbnails/13.jpg)
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~80% never use app again
Curve either goes to zero or flattens out
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Daily Signup Page Yield vs. TimeNew Registered Users divided by Unique Visitors to Signup Page
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Case Study
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m!#XE0&E#=14)0&#E%9#E0(E194#_A?#*;;*)4+,04"Z#
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Active Users
Prospective Users
Invite Click
Succeed
Invite click-through rate
Conversion rate
Don’t Click
Fail
Invites per sender
% of users sending invites
m!#!+</;<01-#4*(14E1)C#4E191#=14)0&9#-141)=0,1#"*+)#[0)%<#)%/*#
Users
% of users who are active
= 15% = 2.3
= 85%
Registration Process
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TheUpsidePoten/alofaMetric
0
100%
0
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0
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Registra/onProcessYield
%ofuserssendinginvita/ons
Avg#ofinvitessentpersender
2.3
85%
15%
Maxpossibleimprovement
0.15/0.85=18% 0.85/0.15=570% ?/2.3=?%
Copyright©2017@danolsen
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Isanyonefeelingasenseofdéjàvu
rightnow?
![Page 31: How to Optimize Your Product and Business Using Analytics · 2020-05-14 · How to Optimize Your Product and Business Using Analytics Dan Olsen August 2017 . My Background Educaon](https://reader030.vdocuments.us/reader030/viewer/2022041021/5ed078ec6841871c0052cd86/html5/thumbnails/31.jpg)
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Okay,sohowcanweimprovethemetric?
n Howdoweincreasetheaveragenumberofinvitesbeingsentoutpersender?
n Foreachidea:n What’stheexpectedbenefit?(howmuchwillitimprovethemetric?)
n What’stheexpectedcost?(howmanyengineer-dayswillittake?)
n Youwanttoiden/fyhighestROIidea
Copyright©2017@danolsen
![Page 33: How to Optimize Your Product and Business Using Analytics · 2020-05-14 · How to Optimize Your Product and Business Using Analytics Dan Olsen August 2017 . My Background Educaon](https://reader030.vdocuments.us/reader030/viewer/2022041021/5ed078ec6841871c0052cd86/html5/thumbnails/33.jpg)
6K1)#L%+,&E0,(#6--)199#$**'#?=;*)41)t#
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AKerLaunchingAddressBookImporter…
Copyright©2017@danolsen
![Page 35: How to Optimize Your Product and Business Using Analytics · 2020-05-14 · How to Optimize Your Product and Business Using Analytics Dan Olsen August 2017 . My Background Educaon](https://reader030.vdocuments.us/reader030/viewer/2022041021/5ed078ec6841871c0052cd86/html5/thumbnails/35.jpg)
6K1)#L%+,&E0,(#6--)199#$**'#?=;*)41)t#
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Iden/fyhighestROIidea
DesignandImplement
AnalyzeHowtheMetricChanges
BrainstormIdeasto
ImproveMetric
Copyright©2017@danolsen
LeanProductAnaly/csProcess
Iden/fyWhatYourMetricsAre
MeasureMetricsBaselineValues
EvaluateMetricsUpsidePoten/al
MetricLevel
SelectTopMetric
Learn&Iterate
GlobalLevel
![Page 37: How to Optimize Your Product and Business Using Analytics · 2020-05-14 · How to Optimize Your Product and Business Using Analytics Dan Olsen August 2017 . My Background Educaon](https://reader030.vdocuments.us/reader030/viewer/2022041021/5ed078ec6841871c0052cd86/html5/thumbnails/37.jpg)
Questions? @danolsen http://dan-olsen.com Will notify book winners on Twitter Happy to connect on LinkedIn