Start-up Metrics for Product Marketing & Product Management
AARRR| Pirate Metrics | Start-up metrics for Product Marketing & Product Management
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AARRR
Originally presented by Dave McClure | Billionaire Investor | Founding Partner 500 Startups
AARRR is about how to develop (1) A model of your customer behaviour,and then (2) Use conversion metrics/web analytics to assist your (3) Internet marketing & product management efforts
Customer Lifecycle | 5 steps to Success
Acquisition | Activation | Retention | Referral | Revenue
Offline shopping example
Acquisition |Get users to come to the site/product through various channels
Activation | Users enjoy 1st visit “happy” user experience
Activation criteria: User completes some key actions on your site/product | 10-to-30+ seconds usage | 2-to-3+ page views | 3-to-5+ clicks | 1 key feature usage
Retention |Userscome back, use the site/productmultiple times. They get the value proposition
Referral | Users like your site/product enough to refer others
Only encourage users to refer *after* they have had a “happy” user experience; avgscore >= 8 out of 10 |
Tactics: Campaigns, Contests, Emails & Widgets
Revenue| Users conduct somemonetization behavior
AARRR
It’s about how to develop
(1) A model of your customer behaviour,and then
(2) Use conversion metrics/web analytics to assist your
(3) Internet marketing & product management efforts
4 types of Metrics & Measurement |
Qualitative
Quantitative
Comparative
Competitive
1) Qualitative | Watch what users do, figure out problems & solutions from small number of users
2. Quantitative | Report what users do, track usage & conversion % for all or empirical sample number of users. Traffic analysis. User engagement
3. Comparative | Compare what users do in one scenario vs another, see which copy/graphics/UI is most effective. A/B, Multivariate testing
Competitive | Track competitor activity & compare against yours; if possible compare channels, keyword traffic, demographic targeting, user satisfaction, etc.
AARRR
It’s about how to develop
(1) A model of your customer behaviour,and then
(2) Use conversion metrics/web analytics to assist your
(3) Internet marketing & product management efforts
Marketing question | What channels/who do you market to?
Measure channel effectiveness *deeper* down the conversion funnel, and not just to website/landing page. Conversion @ deepest possible level (ideally $$$)
Product question | How do you choose what feature to build?
Just guess, then A/B test a lot. Measure conversion improvement. Rinse & repeat
Founder/CEO question | What metrics do you choose to watch?
Hypothesize customer lifecycle & refine.Choose5–10 conversion steps. Less, not more is better. But measure & iterate. Focus on conversion improvement. Delegate each metric to someone to own
Credits | Originally presented by Dave McClure | 500 Startups
How to implement AARRR for your product/ or startup? Few Reference Tools
Qualitative | UXCam | ethnio |Try my UI | UsabilityHub
Quantitative | Amplitude | Mixpanel | Localytics | Google Analytics
Comparative | Optimizely | VWO — Visual Website Optimizer
Competitive | Mention | Alexa | SimilarWeb | Google Alerts
Referral | Viral loops | Kickofflabs | Referral Candy
Lifecycle Emails | Rejoiner | CleverReach
Credits & References
Thank you!
Cover photo byuna.knipsolina/ photocase.com | E-Commerce lifecycle emails www.rejoiner.com | Ecommerce Dashboard www.geckoboard.com | Funnels mixpanel.com/funnels/ | Heatmaps inapptics.com | Dropbox referrals http://ui-patterns.com/patterns/invite-friends/examples/17083 | RevenueOleg Andrianovhttp://anoff.ru | AshMauryawww.slideshare.net/ashmaurya/pirate-metrics-20-aarrr | YAROSLAVLEHENCHUK producttribe.com/revenue-amp-growth/aarrr-framework-best-guide
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