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Lean Startup - Customer Development - Aarrr metrics
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.
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Lean Startup - Customer Development - Aarrr metrics
- 1. How to catchthe fish And learn how to improve your fishing power
- 2. WHY I AMHERE To kick your ass...
- 3. WHY I AMHERE Time to wake up...
- 4. WHAT DO YOUREALLY KNOW ABOUT YOUR REALITY?
- 5. THERE IS NOWAY BACK!
- 6. WHAT IS THEPROBLEM YOU ARE TRYING TO SOLVE?
- 7. WHAT IS YOURMOST IMPORTANT CUSTOMER SEGMENT?
- 8. WHO IS YOURBEST CUSTOMER?
- 9. WHY IS THISYOUR BEST CUSTOMER?
- 10. HOW DO YOU(PLAN TO) MAKE YOUR MONEY?
- 11. HAVE YOU COLLABORATED WITHYOUR (POTENTIAL) CUSTOMERS?
- 12.
- 13. WHAT IS YOURMOST USED FEATURE?
- 14. THERE IS NOWAY BACK!
- 15. YOU’RE DOING TOOMUCH
- 16. EVERY WEEK KILL AFEATURE
- 17. DON’T HANG ONTO THINGS THAT YOU MIGHT BUILD SOMEDAY
- 18.
- 19. TAKE OUT AFEATURE AND MONITOR THE REACTIONS
- 20. Either they loveit or hate it, all other reactions means you’re screwed OPTIMIZE FOR HAPPINESS
- 21.
- 22. Create different storylinesfor different combinations NARRATIVE OF YOUR PROCESS
- 23. Let’s take alook at this meta-framework EXAMPLES
- 24. #1 DOGGIECOLR Social Networkfor 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 managementtool 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 acloser look at this meta-framework ACQUISITION
- 29. ARE YOU FISHINGIN THE RIGHT POND?
- 30. HOW DO YOUGET NEW CUSTOMERS?
- 31. IS YOUR MESSAGE REACHINGTHE RIGHT PEOPLE?
- 32. ARE YOU FOCUSSINGON THE RIGHT PEOPLE?
- 33.
- 34. ARE YOU USINGTHE RIGHT BAIT?
- 35. HOW DO YOULAND POTENTIAL CUSTOMERS?
- 36.
- 37. ARE YOU HELPINGYOUR CUSTOMERS?
- 38.
- 39. DO YOU USETHE RIGHT MATERIAL?
- 40. HOW DO YOUMAKE CUSTOMERS STAY?
- 41. DO YOU OFFERTHE RIGHT EXPERIENCE?
- 42. DO YOU OFFERQUALITY?
- 43.
- 44. HOW DO YOURFISHES LURE IN MORE FISHES?
- 45. HOW IMPORTANT IS WORDOF MOUTH?
- 46. HOW EASY ISIT FOR CUSTOMERS TO SHARE THEIR EXPERIENCES?
- 47.
- 48.
- 49. HOW DO YOU(PLAN TO) MAKE YOUR MONEY?
- 50. ARE YOU CATCHINGTHE RIGHT FISH?
- 51. TIME TO START MEASURINGAND LEARN
- 52. Metrics that makeyou feel good but don’t tell anything… VANITY METRICS
- 53. 150 000 Users Numeroussuperior competitors … WHAT WOULD INDICATE SUCCES?
- 54. Let us examineFacebook… 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 usersare more engaged! Group users in month or week. COHORT
- 58. Let different groupsof 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 = Costof 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
- 64.
- 65. WE’RE DOING TOMUCH!
- 66. Acquisition Activation Retention Referral Revenue WE CAN USEAARRR TO BUILD THE NARRATIVE OF YOUR STRATEGY!
- 67. WE SHOULD FOCUSON REAL METRICS
- 68. J WE SHOULD GOOUT AND COLLABORATE WITH OUR CUSTOMERS!
- 69. THERE IS NOWAY BACK!
- 70. Thank you Slidedeck by:Erik Talboom – Jurgen De Smet – Maarten Volders