Startup Metrics for Pirates (SeedCamp 2008)

Startup Metrics for Pirates AARRR! SeedCamp 2008 University College London 09/16/08 Dave McClure, Master of 500 Hats http://500hats.typepad.com/ http://www.500hats.com/ http://slideshare.net/dmc500hats/

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

Disclaimer ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Web 2.0: What’s So Special? ,[object Object],[object Object],[object Object],[object Object],[object Object]

Startup Metrics: An Overview ,[object Object],[object Object],[object Object],[object Object],FAIL. WIN! ,[object Object],[object Object],[object Object]

Startup Metrics: An Overview ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Startup Metrics: Passion vs Precision ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

What’s The Best Metric ? Users, Pages, Clicks, Emails, $$$ ,[object Object],[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],AARRR !

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

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],1 2 3

The 1-Page Business Model (Users + Conversions + Priorities) Q2: What actions could they take to help you or them ? 1 2 3 1 2 3 1 3 2 1 3 2

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

Example Conversion Metrics (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% $10

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 disclaimer: estimates of vol, cost/user, time & effort are subjective – actual costs are dependent on your specific business

Startup Priorities ,[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]

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]

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

Startup Metrics for Pirates (SeedCamp 2008)

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Startup Metrics for Pirates (SeedCamp 2008)