Startup Metrics for Pirates (SF, Jan 2010)

Startup Metrics for Pirates: AARRR! Lean Startup Circle UCSF Jan 2010 Dave McClure 500 Hats / Founders Fund http://www .500hats.com http ://500hats.typepad. com http ://slideshare.net/ dmc500hats

Why I’m Here: To Kick Your ASS. ,[object Object],[object Object],[object Object],[object Object],YOUR SILLY FRIGGIN HOPES & DREAMS, ABOUT TO BE CRUSHED THE REALITY : U SUCK , YOUR PRODUCT SUCKS , & U WILL FAIL … HARD.

Startup Challenges ,[object Object],[object Object],[object Object],[object Object]

3 Core Models: biz model, conversion dashboard, mktg channels ,[object Object],[object Object],[object Object],[object Object]

[Pardon The Blatant Commercial]

Dave McClure ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],GEEK, CODER, ENTREPRENEUR Blogger, Startup Advisor Internet Marketing, Angel/VC Investor

Personal Investments (16 deals, 2004-2009, ~$25K avg)

Professional Investments (40 deals, Dec 2008 – Dec 2009, ~$75K avg) fbFund Incubator 22 deals ($850K) ~$15-75K FF Angel LLC 18 deals ($1.8M) ~$50-250K

Web 2.0: Hell Yes , Good Times. ,[object Object],[object Object],[object Object],[object Object],[object Object],R.I.P. *BAD* TIMES

Be Bold. Be Humble. ,[object Object],[object Object],[object Object],[object Object],[object Object]

Just Gimme the GOOD Metrics. Users, Pages, Clicks, Emails, $$$...? ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],the good stuff.

Lean Startup Church of Metrics: Priests & Principles ,[object Object],[object Object],[object Object],[object Object],[object Object]

Minimize TOTAL time through the loop LEARN BUILD MEASURE IDEAS CODE DATA Source: Eric Ries Startup Lessons Learned

The Startup Pyramid (Sean Ellis, Startup-Marketing.com) [email_address] Blog: startup-marketing.com

Design, Optimize for Conversion

Optimize 4 Happiness (both User + Business) ,[object Object],[object Object],[object Object],[object Object],[object Object],$$$

Discover Meaning What Do Users Care About Enough to Fuck or Kill ?

Discover Meaning Keywords, Images, Call-to-Action ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

KILL A FEATURE. Something Sucks . Find It. KILL It. ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Q: What’s My Business Model? ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Startup Metrics for Pirates ,[object Object],[object Object],[object Object],[object Object],[object Object],(note: If you’re in a hurry, Google “Startup Metrics” & watch 5m video) AARRR !

AARRR!: 5-Step Startup Metrics Model Website.com R evenue $$$ Biz Dev Ads, Lead Gen, Subscriptions, ECommerce A CQUISITION SEO SEM Apps & Widgets Affiliates Email PR Biz Dev Campaigns, Contests Direct, Tel, TV Social Networks Blogs Domains R etention Emails & Alerts System Events & Time-based Features Blogs, RSS, News Feeds

Role: Founder/CEO ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

The 1-Page Business Model (Users + Conversions + Priorities) ,[object Object],[object Object],[object Object],[object Object],[object Object]

TeachStreet Metrics v1: Eye Chart Madness

TeachStreet 1-Page Business Model: Teachers & Students Teachers Students Activation ,[object Object],[object Object],[object Object],[object Object],Retention ,[object Object],[object Object],Referral ,[object Object],[object Object]

Role: Product / Engineering ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Example Conversion Dashboard (note: *not* actuals… your mileage may vary) Stage Conversion Status Conv. % Est. Value (*not* cost) Acquisition Visitors -> Site/Widget/Landing Page (2+ pages, 10+ sec, 1+ clicks = don’t abandon) 60% $.05 Activation “ Happy” 1 st Visit; Usage/Signup (clicks/time/pages, email/profile reg, feature usage) 15% $.25 Retention Users Come Back; Multiple Visits (1-3x visits/mo; email/feed open rate / CTR) 5% $1 Referral Users Refer Others (cust sat >=8; viral K factor > 1; ) 1% $5 Revenue Users Pay / Generate $$$ (first txn, break-even, target profitability) 2% $50

Role: Marketing / Sales ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Example Marketing Channels ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

M AARRR keting Plan ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

One Step at a Time. ,[object Object],[object Object],[object Object],“ You probably can’t save your Ass and your Face at the same time… choose carefully .” – DMC

Startup 2.0: “Lean Investor” Model ,[object Object],[object Object],[object Object],[object Object]

Investment #1: Incubate (“Product”) ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Investment #2: Seed (“Market”) ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Investment #3: Venture (“Revenue”) ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Links & Resources ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Website.com ,[object Object],[object Object],[object Object],[object Object],[object Object],do LOTS of landing page & A/B tests – make lots of dumb guesses & iterate FAST Activation SEO SEM Apps & Widgets Affiliates Email PR Biz Dev Campaigns, Contests Direct, Tel, TV Social Networks Blogs Domains

Activation What do users do on their first visit? ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Activation What do users do on their first visit? ,[object Object],[object Object],[object Object],[object Object]

Activation ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Website.com ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],Retention SEO SEM Apps & Widgets Affiliates Email PR Biz Dev Campaigns, Contests Direct, Tel, TV Social Networks Blogs Domains Emails & Alerts System Events & Time-based Features Blogs, RSS, News Feeds

[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],Retention How do users come back? How often?

[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],Retention How do users come back? How often?

Retention How do users come back? How often? ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Retention ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Website.com ,[object Object],[object Object],[object Object],[object Object],Acquisition SEO SEM Apps & Widgets Affiliates Email PR Biz Dev Campaigns, Contests Direct, Tel, TV Social Networks Blogs Domains

Acquisition Where are users coming from? ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Acquisition Keyword Vocabulary ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Acquisition Where are users coming from? ,[object Object],[object Object],[object Object],[object Object],Example

Acquisition ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Website.com Focus on driving referrals * after * users have a “ happy ” experience; avg score >= 8 out of 10 Referral Acquisition SEO SEM Apps & Widgets Affiliates Email PR Biz Dev Campaigns, Contests Direct, Tel, TV Social Networks Blogs Domains Retention Emails & Alerts System Events & Time-based Features Blogs, RSS, News Feeds

Referral How do users refer others? ,[object Object],[object Object],[object Object],[object Object],[object Object]

Referral Viral Growth Factor ,[object Object],[object Object],[object Object],[object Object],A viral growth factor > 1 means an exponential organic user acquisition.

Referral ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Website.com Revenue This is the part *you* still have to figure out… (we don’t know jack about your business) R evenue $$$ Biz Dev Ads, Lead Gen, Subscriptions, ECommerce Acquisition SEO SEM Apps & Widgets Affiliates Email PR Biz Dev Campaigns, Contests Direct, Tel, TV Social Networks Blogs Domains Retention Emails & Alerts System Events & Time-based Features Blogs, RSS, News Feeds

Revenue How do you make money? ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Revenue ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Types of Measurement ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Startup Metrics for Pirates (SF, Jan 2010)

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Startup Metrics for Pirates (SF, Jan 2010)

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