sitar teli, managing partner, connect ventures - core metrics: what web and mobile companies should...
DESCRIPTION
Lots of people talk about KPIs and how important it is to focus on them. But what are the most important KPIs for a product and startup to focus on? How does it change by industry and device (web vs mobile)? And how should your focus change over time? More details on: http://2013.howtoweb.co/TRANSCRIPT
KPIs
Sitar Teli@sitar
•American•Engineer (by education,
never practiced)•Banker•Doughty Hanson Tech
Ventures•Connect Ventures
Connect Ventures Portfolio
Consumer Mobile Consumer Web B2B
Unannounced
KPIs
WHEN?
WHICH?
drowning in data
USELESS = VANITY
METRICS
USEFUL = USER + GOAL
ORIENTEDPAGEVIEWS
VISITS“HITS”
USER ACTIONSCONVERSION RATES
ENGAGEMENT
ACQUISITION
ACTIVATION
RETENTION
REFERRAL
REVENUE£$€
USE A FRAMEWORK
ACQUISITION
ACTIVATION
RETENTION
REFERRAL
REVENUE£$€
FOCUS?
SHORT ANSWER: THIS ONE
WHY?
Retention = f(customer satisfaction)
RETENTION != ENGAGEMENT
ACQUISITION
ACTIVATION
RETENTION
REFERRAL
REVENUE£$€
FOCUS?
ACQUISITION
ACTIVATION
RETENTION
REFERRAL
REVENUE£$€
FOCUS?NOT HERE
ACQUISITION
ACTIVATION
RETENTION
REFERRAL
REVENUE£$€
FOCUS?C
ON
VERSIO
N PO
INTS
COHORT ANALYSIS IS AWESOME
OTHER TIPS• Good KPIs are linked to assumptions about your
product - help validate or falsify
• Always look at rates or ratios (%s)
• Know the industry standards (if there are any), but focus on improvement
• Do you understand them? If you can’t explain them, they’re bullshit