This link has been bookmarked by 11 people . It was first bookmarked on 17 Dec 2009, by Tom Krieglstein.
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22 Feb 12
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Peter van der ReijdenRecently, I was in Israel for a cloud computing conference and some meetings with local VCs. The folks at Gemini, a VC firm, organized an evening with their portfolio CEOs to discuss lean analytics for startups. I concluded the presentation with a list of
analytics metrics startup lean startups marketing strategy vc read
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- Your viral coefficient is perhaps the best example of this. Simply put, it’s a measure of how a message will propagate. CEOs and VCs need to know, on average, for each message they hear, how many people does someone tell?
- One measure of this on open social networks is amplification. How well are messages being amplified? This varies by social network: On Twitter, it’s the number of Retweets; on Reddit, the number of upvotes; on Facebook, the number of people who become fans.
For many startups, the web is their main marketing medium. Because everything online can be tracked, it’s the perfect platform for accountability. All too often, however, we look at metrics like traffic to the site and number of followers. These don’t matter. What matters is your ability to get a message out to people effectively. If you have a cheap way of reaching many people, that’s a valuable asset.
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- The best way to show this is to measure the time since the last visit by individual user, on a histogram. Here’s an example.
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Core goals. What are the 3 or 4 assumptions on which the business hinges? If you can’t explain these — and if you don’t lie awake thinking about them every night — find another person to lead the company. This should be the most important thing in your business. Always know what core tasks you’re hoping your visitors will accomplish, and why they correlate to business growth. If you want to change one of them, make sure your investors all agree to the change, because you’re effectively changing the business model in which they invested.
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Minimum sustainable burn. If you had to hibernate, what would the steady-state cost of keeping the site running be? This includes salaries, hosting costs, essential services, and so on. Think of it as a disaster plan. If you’re not seeing adoption, and you’re running out of runway, this is the most important number in the company.
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03 Jan 10
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18 Dec 09
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17 Dec 09
Tom KrieglsteinGood article on what VC will ask a startup and helping to make sure you are measuring the right things.
vc measuring data startup kissmetric analytics goals strategicplanning
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Not measuring the right things can be fatal
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Because everything online can be tracked, it’s the perfect platform for accountability.
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All too often, however, we look at metrics like traffic to the site and number of followers. These don’t matter. What matters is your ability to get a message out to people effectively. If you have a cheap way of reaching many people, that’s a valuable asset.
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viral coefficient is perhaps the best example of this. Simply put, it’s a measure of how a message will propagate.
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for each message they hear, how many people does someone tell?
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amplification. How well are messages being amplified?
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On Twitter, it’s the number of Retweets
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For an investor, unhealthy infrastructure is often a sign that the startup lacks operational discipline and can point to deeper problems
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Performability, which is a combination of performance (latency) and availability (uptime) is usually enough here
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track the health of key steps in the business process, such as the enrollment loop or the invite process
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Voice of the Customer surveys ask visitors what they think when they’re on your site
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Community sentiment is a combination of search engines and natural language processing
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knowing when people are talking trash about your brand online is essential.
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How engaged are your visitors? Ask yourself: How many accounts have you signed up for, then abandoned?
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measure the time since the last visit by individual user, on a histogram.
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whether people are becoming more or less engaged, as well as how big your “dead pool” of visitors is
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web data shared at board meetings doesn’t match the business plan
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If you can’t explain these — and if you don’t lie awake thinking about them every night — find another person to lead the company.
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Core goals. What are the 3 or 4 assumptions on which the business hinges
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Extended funnel abandonment.
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Each of these steps towards the goal must be tracked.
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Movement towards or away from business goals. At every board meeting, you should know what changes to the product moved you towards or away from a goal
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Changes to the funnel. Seeing the funnel is useful; seeing it compared to the past period is essential.
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That means there are three trajectories: growth, failure, or sustainable burn
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Cost per engaged visitor is simply the operating costs of the site divided by the number of visitors.
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Peak to average ratio. All sites experience traffic spikes. How much busier is the site at busy times
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Minimum sustainable burn. If you had to hibernate, what would the steady-state cost of keeping the site running be?
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