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I’m Conrad Wadowski, a Partner
at GrowHack which works with venture backed companies. I also run an online school which brings together leading practitioners and resources to teach your team user growth. Some background
Acquisition source person comes from
Search, Social,WOM,Viral Activation getting someone to a “must have experience” Your happy event Retention Getting someone back to the experience Email, push notifs, messaging, user generating content
Free channels Referral getting one
of your users to refer another user After you’ve starting using SnapChat you then feel comfortable inviting a friend. Referral Event: Messaging a friend
Free channels Revenue monetizing people
SnapChat currently doesn’t make money. They’re optimizing for user growth, which a monetization step would slow down. If SnapChat started sending disappearing ads, advertisers would pay. Revenue Event: N/A
” Metrics are merely a
reﬂection of the product strategy that you already have in place and are limited because they’re based on what you’ve already built, which is based on your current audience and how your current product behaves. Andrew Chen “
“I ask existing users of
a product how they would feel if they could no longer use the product. In my experience, achieving product/market ﬁt requires at least 40% of users saying they would be “very disappointed” without your product.” - Sean Ellis Question to assess Product/Market Fit
How well are we retaining
users? We look into the % of ﬁrst time users who login the next day. If we weren’t retaining users, maybe they think our product isn’t valuable. Easy and quick to measure.
What’s the most efﬁcient use
of marketing resources? To answer this question, we could look into sources of trafﬁc, and analyze what % of users from a particular source ended up converting into being engaged with our product or paying, and how much would it cost to acquire this particular user. Helps you focus your resources on the channel with the most impact.
An easy way to make
your metrics more actionable would be to try to make it a %. Divide an important number you have over a period of time to give you a growth rate, or over an earlier step in your funnel to give you a conversion rate.
What’s not actionable? Anything topline
- like pageviews, revenue or users.We want to increase your total users, but this number will go up no matter what you do. Time on Site - can help measure engagement, but maybe your users are just confused?
Targeted messaging Bill Murray Kid
Rock Brittany Spears Brad Pitt Aaron Arnold Juliana James John Johnson Bobby Boulder Nick Newman Sandy Sue Carly Charleston Paul Porter 350k 1 78 253k 87 27.2M 93 344 25 576 333 - 988 3 30 24 31 51 44 - - 0
Targeted messaging Bill Murray Kid
Rock Brittany Spears Brad Pitt Aaron Arnold Juliana James John Johnson Bobby Boulder Nick Newman Sandy Sue Carly Charleston Paul Porter 350k 1 78 253k 87 27.2M 93 344 25 576 333 - 988 3 30 24 31 51 44 - - 0 You might want to say hello
Objective: Improve Engagement Key Result:
Get 30% of students to post weekly progress updates by the end of the week. Experiment(s) this week: Set up class segments in intercom.io and email students on with link to Lecture. Create a Facebook group for the class. OKR Framework