Analytics 101 for startups
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This document provides an overview of analytics and metrics that startups should track. It discusses key metrics like acquisition, activation, retention, revenue, and referrals. It also covers cohort analysis and tools for analytics including Google Analytics, KISSmetrics, and GoSquared. The document emphasizes setting targets, tracking everything while focusing on important metrics, always testing, and taking action on analytics findings.
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Analytics 101 for startups
- 2. What’s coming up? What to measure? Pirate metrics 101. What tools can I use? What does GoSquared track?
- 3. What should a startup measure?
- 4. Subscribers Activations Views Churn Cancelations Big Data Upgrade Uniques Impressions ransactions Repeats Pageviews Comments Downgrades Conversions Visits otations Follows Cohorts Growth Upsells Hits Goals Favourites Engagement
- 5. Track everything.* Focus on what matters. * Everything you can think of. You never know when you might need it.
- 6. Protip Vanity metrics are everywhere.
- 8. We need to focus on metrics that help us track our business.
- 9. Let’s take a look at one of the best ways to do that…
- 10. Pirate metrics (none of these people are Dave McClure)
- 11. A A R R R
- 12. Acquisition Activation R etention R evenue R eferral
- 13. Acquisition How you gain new users.
- 14. Track things like Total signups CAC (Customer Acquisition Cost) Leading indicators: Twitter Followers New unique visitors to site Facebook likes Subscribers to mailing list
- 15. Activation Turning mere signups into activated users. (Get the on-boarding right)
- 16. Some rather successful companies track things like User follows more than 15 people. Installs tracking code. Downloads and installs the native app. Finds what they searched for in under 10 seconds.
- 18. Retention Keeping users happy. Reducing churn.
- 19. Track things like Churn – % of users who cancel in a given timeframe DAU / WAU / MAU (Daily / Weekly / Monthly Active Users) Customer Support metrics
- 21. Track things like MRR (Monthly Recurring Revenue) Average MRR / user AOV (Average Order Value) CLTV (Customer Lifetime Value)
- 22. Referral
- 23. Referral People like your product enough to recommend it to their friends.
- 24. Track things like NPS (Net Promoter Score) No. of signups via referral
- 25. Cohort analysis
- 26. What is cohort analysis? Cohort analysis allows a company to “see patterns clearly across the lifecycle of a customer (/user), rather than slicing across all customers blindly without accounting for the natural cycle that a customer undergoes.” Source: Alistair Croll; Benjamin Yoskovitz. Lean Analytics: Use Data to Build a Better Startup Faster
- 27. Track by cohort Break metrics apart. Helps you understand how you are improving things.
- 28. % of users who signed in Cohort analysis for sign in activity Time Signups in October Signups in December Signups in November Signups in January Signups in February
- 30. Analytics “Some basics” Wordpress (Jetpack Stats) Facebook Insights Twitter Analytics
- 32. Analytics “Full featured, but complex” Google Analytics Omniture WebTrends Piwik
- 33. A/B testing
- 34. Visualising data
- 35. Protip Learn to love MySQL.
- 36. What does an analytics company like GoSquared track?
- 37. Metrics we obsess over Signups (by source) Activations by signup week DAU, WAU, MAU NPS MRR, MRR / customer CLTV
- 38. Set targets. Track everything. Focus. Always be testing. Ask “so what?”
- 39. Most importantly Act now. Not tomorrow.
- 40. You’ve been viewing Analytics 101 for Startups by The GoSquared Team
- 41. Sources Pirate Metrics by Dave McClure: http://www.slideshare.net/dmc500hats/startup-metrics-for-pirates-long-version Lean Analytics: Alistair Croll; Benjamin Yoskovitz. Lean Analytics: Use Data to Build a Better Startup Faster ! Images ! http://littlevisuals.co/ http://unsplash.com/ http://wallpaperswide.com/pirates_of_the_caribbean_on_stranger_tides_2011_movie-wallpapers.html Olly Plumstead: https://www.facebook.com/media/set/?set=a. 10152234031736354.1073741826.138182321353&type=1&l=bd5230316c