“Startups often drown in a sea of numbers in an attempt to bring order to the chaos of uncertainty.” – Ash Maurya
“Failure to identify the right key metric can be catastrophic – leading to wasteful activities like premature optimization or running out of resources while chasing the wrong goal.” – Ash Maurya
“The Lean Startup process is all about increasing the right metric at the right time.” – Alline Watkins
“Vanity metrics are the numbers you put in your press release to make competitors feel bad about themselves. (…) The problem is that we start to believe in our own vanity metrics propaganda.” – Eric Ries
Which startup stage are you?
A – Acquisition
…….Users from misc channels come to site (or landing page, or widget, etc).
…….Where / what channels do users come from?
A – Activation
…….Users enjoy 1st site visit (view X pages, spend Y seconds, make Z clicks).
…….What percentage have a “happy” initial experience?
R – Retention
…….Users re-visit site multiple times (ex: 3 visits in first 30 days)
…….Do users come back & re-visit your site over time?
R – Referral
…….Users like product enough to refer others (via email, links, word-of-mouth, etc)
…….Do users like it enough to tell their friends?
…….Users conduct monetization behavior (If not, choose next-best proxy (free download, etc).
…….Can you monetize any of behavior?