Lean Startup - Customer Development - Aarrr metrics
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The document provides guidance on improving fishing skills and business metrics. It discusses acquiring customers, activating them through clear messaging and helping them, retaining customers through quality and experience, gaining referrals through word of mouth and easy sharing, and earning revenue. Key metrics mentioned include the viral coefficient, lifetime value, cohorts, and A/B testing. The document emphasizes the importance of collaborating with customers, focusing on the right metrics, validating learning through experiments, and using the AARRR framework to build a strategic narrative.
Lean Startup - Customer Development - Aarrr metrics
- 1. How to catch the fish And learn how to improve your fishing power
- 2. WHY I AM HERE To kick your ass...
- 3. WHY I AM HERE Time to wake up...
- 4. WHAT DO YOU REALLY KNOW ABOUT YOUR REALITY?
- 5. THERE IS NO WAY BACK!
- 6. WHAT IS THE PROBLEM YOU ARE TRYING TO SOLVE?
- 7. WHAT IS YOUR MOST IMPORTANT CUSTOMER SEGMENT?
- 8. WHO IS YOUR BEST CUSTOMER?
- 9. WHY IS THIS YOUR BEST CUSTOMER?
- 10. HOW DO YOU (PLAN TO) MAKE YOUR MONEY?
- 11. HAVE YOU COLLABORATED WITH YOUR (POTENTIAL) CUSTOMERS?
- 13. WHAT IS YOUR MOST USED FEATURE?
- 14. THERE IS NO WAY BACK!
- 15. YOU’RE DOING TOO MUCH
- 16. EVERY WEEK KILL A FEATURE
- 17. DON’T HANG ON TO THINGS THAT YOU MIGHT BUILD SOMEDAY
- 19. TAKE OUT A FEATURE AND MONITOR THE REACTIONS
- 20. Either they love it or hate it, all other reactions means you’re screwed OPTIMIZE FOR HAPPINESS
- 22. Create different storylines for different combinations NARRATIVE OF YOUR PROCESS
- 23. Let’s take a look at this meta-framework EXAMPLES
- 24. #1 DOGGIECOLR Social Network for Dog Lovers Makes money through advertising and affiliate sales of lush dog collars. Key business drivers Advertising and affiliates need large traffic/page views so growth and retention are key.
- 25. ACQUISITION VISIT ACQUISITION SIGN-UP ACTIVATION CREATE PROFILE ACTIVATION POST PICTURES COMMENT REFERRAL SHARE PICTURES INVITE FRIENDS REVENUE BUY COLAR
- 26. #2 AGILESAMBA Project management tool for Agile startups Makes money through monthly subscriptions. Has a free trial period. Key business drivers Conversion to paid users and cancellation rates.
- 27. ACQUISITION VISIT ACQUISITION SIGN-UP ACTIVATION CREATE PROJECT REVENUE UPGRADES PAID REVENUE CANCELS ACCOUNT
- 28. Let’s take a closer look at this meta-framework ACQUISITION
- 29. ARE YOU FISHING IN THE RIGHT POND?
- 30. HOW DO YOU GET NEW CUSTOMERS?
- 31. IS YOUR MESSAGE REACHING THE RIGHT PEOPLE?
- 32. ARE YOU FOCUSSING ON THE RIGHT PEOPLE?
- 33. ACTIVATION
- 34. ARE YOU USING THE RIGHT BAIT?
- 35. HOW DO YOU LAND POTENTIAL CUSTOMERS?
- 37. ARE YOU HELPING YOUR CUSTOMERS?
- 38. RETENTION
- 39. DO YOU USE THE RIGHT MATERIAL?
- 40. HOW DO YOU MAKE CUSTOMERS STAY?
- 41. DO YOU OFFER THE RIGHT EXPERIENCE?
- 42. DO YOU OFFER QUALITY?
- 43. REFERRAL
- 44. HOW DO YOUR FISHES LURE IN MORE FISHES?
- 45. HOW IMPORTANT IS WORD OF MOUTH?
- 46. HOW EASY IS IT FOR CUSTOMERS TO SHARE THEIR EXPERIENCES?
- 47. REVENUE
- 49. HOW DO YOU (PLAN TO) MAKE YOUR MONEY?
- 50. ARE YOU CATCHING THE RIGHT FISH?
- 51. TIME TO START MEASURING AND LEARN
- 52. Metrics that make you feel good but don’t tell anything… VANITY METRICS
- 53. 150 000 Users Numerous superior competitors … WHAT WOULD INDICATE SUCCES?
- 54. Let us examine Facebook… WHAT WOULD INDICATE SUCCES?
- 55. Metrics that matter! • Value Hypothesis How do we add more value to our cusotmers live? • Growth Hypothesis Through what engine will we acquire new customers?
- 56. Metrics that matter! • Value Hypothesis How do we add more value to our cusotmers live? • Growth Hypothesis Through what engine will we acquire new customers?
- 57. Fact: New users are more engaged! Group users in month or week. COHORT
- 58. Let different groups of customers validate different new features A-B TESTING
- 59. Experiment, validate learning & change! RATE OF VALIDATED LEARNING
- 60. Viral Coeff = Invites * Conversion Rate Examples: Facebook, Hotmail… Focus on Acquisition & Referral – Revenu is side effect VIRAL COEFFICIENT
- 61. LTV = Cost of Acquiring Customer / Earnings from that customer Examples: Amazon, Match.com… Focus on Activation & Retention – Payment is central LIFETIME VALUE (LTV)
- 62. Recommended Software • Ubounce • KISS Metrics • Survey.io • Wufoo • LinkShiftr
- 65. WE’RE DOING TO MUCH!
- 66. Acquisition Activation Retention Referral Revenue WE CAN USE AARRR TO BUILD THE NARRATIVE OF YOUR STRATEGY!
- 67. WE SHOULD FOCUS ON REAL METRICS
- 68. J WE SHOULD GO OUT AND COLLABORATE WITH OUR CUSTOMERS!
- 69. THERE IS NO WAY BACK!
- 70. Thank you Slidedeck by: Erik Talboom – Jurgen De Smet – Maarten Volders