From social media to website analytics, there are literally hundreds of things you could track, measure and try to improve. But what is the one metric that if improved would mean a big win for your business?
This deck will help you hone in on the metrics that really matter to your business. You’ll get their insights on the tools and strategies you need to find, prioritize and grow the numbers that will result in big wins for your business.
3. So Much to Measure…So Little Time
• Marketers are overwhelmed with more data than ever.!
• The problem is not the shortage of numbers and information—it’s the
lack of insights that come from all the numbers.!
• The truth is that for any business at any stage there are just a few
metrics that really matter.!
6. Go Beyond Data to Insights
http://www.kaushik.net/avinash/rethink-web-analytics-introducing-web-analytics-20/!
7. Avoid These Metrics Mistakes
• Using vanity metrics that accumulate over time but tell you little
about the current performance of your business (e.g. page views)!
• Tracking numbers that you can’t act on or work to improve.!
• Using averages to determine overall performance. (e.g. bounce rate
across all website visitors)!
8. What Does a Good Metric Look Like?
Simple to Understand — You shouldn’t have to spend a lot of time explaining
the data to the rest of your team.!
Relevant — Are you reporting on data that doesn’t actually matter to your
business?!
Timely — Data that lags isn’t as useful as data that’s timely. Last quarter’s lead
totals don’t help with this week’s marketing budget.!
Instantly Useful — Team members should be able to understand what should
be done in response to the metric. !
http://www.kaushik.net/avinash/web-metrics-demystified/!
9. Metrics Are Stage Dependent
• Growth — Optimization,
Scale, NPS!
• Transition to Growth
— Conversion Rates!
• Product/Market Fit — Must-
Have Score!
12. Focus on Three Key Areas
Acquisition — How you find and acquire new customers!
Behavior — What are the customer behaviors that result in
engagement and retention?!
Outcomes — What are the outcomes that are important to your
business? Macro vs. micro conversions.!
http://www.kaushik.net/avinash/web-metrics-demystified/!
14. Avinash’s 5 Steps to Metrics That Matter
1. Identify business objectives. Why do we exist and what are we trying to
accomplish?!
2. Set the goals for each objective. What does success look like?!
3. Establish Key Performance Indicators. What are the numbers that tell you
if you’re successful or not?!
4. Create targets. What is the expected or desired result for the KPI?!
5. Build segments. What will we analyze to see if we are successful or not?!
http://www.kaushik.net/avinash/web-metrics-demystified/!
17. Metrics are Business Type Dependent
Transactional — Someone makes a purchase.!
Collaborative — Someone creates something.!
SaaS — Someone subscribes to your software.!
Media — Someone reads or consumes something you’ve created.!
Game — Someone plays a game you’ve created.!
App — Someone uses and buys your application for a fee.!
http://leananalyticsbook.com/one-metric-that-matters/!
18. Transactional Metrics
• Average Order Value — The average dollar amounts of each order.!
• Customer Lifetime Value — The total profit generated by a customer
over time.!
• Revenue Per Visitor — The revenue generated for every new user to
your site.!
19. SaaS Metrics
• Monthly Recurring Revenue — The monthly booked revenue that
recurs due to customer subscriptions.!
• Churn rate — The percentage of customers who cancel their
subscription in a given period (usually monthly).!
• Trial activation rate — The number of free trial users who ultimately
becoming paying customers. !
20. Media Metrics
• Visitor loyalty — The number of visits by an individual user in a given
time period.!
• Advertising Clickthroughs — The rate at which people click on
advertising units on the site.!
• Page depth — The number of pages seen by visitors during a visit. !
22. Next Steps
Review your analytics — What are you tracking? What should you
start tracking? What should you stop tracking?!
Find what really matters — Based on your business objectives and
goals, are you tracking what matters most?!
Find your OMTM — One or critical few. What are they, who owns
them?!
23.
24. Thank You
We hope this was helpful.
Want to discuss these slides further?
Ask us about them on GrowthHackers.com
25. Sean Ellis, CEO Qualaroo (@seanellis)
Sean Ellis is the CEO of Qualaroo and founder of GrowthHackers.com. Prior to Qualaroo, Sean
held marketing leadership roles with breakout companies including Dropbox, LogMeIn (IPO),
Uproar (IPO), Eventbrite and Lookout.
Peter Borden, Growth Hacker SumAll
Peter’s a growth hacker and full-stack marketer who has worked on a wide array of projects,
from free consumer products, to e-commerce, to enterprise-level B2B solutions. When founders
and CEOs need someone to build the growth and marketing engines for their business, he’s the
man they call.
26. About Qualaroo
• Analytics are great at telling you
what happened—Qualaroo tells you
why.!
• Core part of the Conversion
Optimization Stack!
• Guessing your way through !
A/B tests is too expensive!
27. About SumAll
• Analytics for Everything. SumAll is the only tool you need for your
social media, e-mail, ads, payments, and e-commerce data. All in one
place.!
• Your Data Delivered Every Morning. Get all your vital data sent to your
inbox with customized daily and weekly e-mails. Key takeaways,
important insights, and comparisons from the prior week to the present
are all included.!