PYROS Build: Metrics

Transcript

1. metrics regan davis BUILD | deep dive #3 PYROS creating products that are made to measure
2. regan davis product leader from chicago, il BACKGROUND EIR @ 1871 Sr. Director of Product @ SpotHero Advisor, Coach regandavis.com VP of Product @ Jellyvision VP of Product @ info.com
3. regandavis.com CORE METRICS TRACKING PLAN OPTIMIZATION “DATA DRIVEN” agenda
4. regandavis.com what, not why analytics tell you
5. regandavis.com compare & contrast data’s purpose:
6. regandavis.com pirate metrics (Credit: Dave McClure, Melanie Blake via Medium)
7. regandavis.com ACTIVATION ACQUISITION RETENTION REFERRAL REVENUE (Credit: Dave McClure, Melanie Blake via Medium)
8. regandavis.com ACQUISITION how do people fi nd you and (eventually) turn into customers? how good is their fi rst customer experience? ACTIVATION (Credit:Melanie Blake via Medium)
9. regandavis.com customer journey airport parking customer journey ACQUISITION ACTIVATION ACTIVATION AWARENESS KNOWLEDGE INTENT
10. regandavis.com Let’s try it. Customer journey sheet
11. regandavis.com User/Logo retention: % of new users who are still active 3-6 mo. later L7/L30 retention: Number of days that users are active per week/month RETENTION REFERRAL Invite rate: % of new users who sent at least one invite in the fi rst X days Invite conversion: % of received invites that sign-up in the next X days Virality factor: % of new users who have come from an invite (Credit:Melanie Blake via Medium)
12. regandavis.com funnels ACQUISITION TRACKING PLAN
13. regandavis.com conversion
14. regandavis.com start with What’s the main goal of your user? Look Book Park compare parking options reserve and pre-pay for parking show up at garage to guaranteed spot
15. regandavis.com next What are the paths they take to get there? • capture an event for each step in the path • create a funnel from the steps that are common
16. regandavis.com track Events and Properties • Screen • Trigger • Action (Event) • Extra info (Properties) • Description
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18. regandavis.com Let’s try it.
19. regandavis.com where to start
20. regandavis.com Craigslist seller flow OPTIMIZATION Conversion Rate: 0.03%
21. regandavis.com Craigslist seller flow
22. regandavis.com Craigslist seller flow 20% 50% 80% 95% 50% 80%
23. regandavis.com hypothesis driven development “DATA DRIVEN”
24. measure your bets. regandavis.com
25. regandavis.com “The only difference between screwing around and science is writing down your results.“ — Adam Savage, Mythbusters
26. meet Shannon. regandavis.com Shannon Rashedi Sr. Product Manager, Mobile
28. account holders 1. higher conversion rates 2. more frequent customers 3. better customer service
29. regandavis.com what, not why analytics tell you
30. talk to people
32. regandavis.com What do we think will happen? OPPORTUNITY METRIC hypothesis PROBLEM HYPOTHESIS
33. regandavis.com ten ideas. 2 experiments.
34. regandavis.com quick rebook
35. regandavis.com We hypothesize that showing Quick Rebook to guest users will help customers [see the value of an account] and increase [account signup X%*] • Quick Rebook Click-through Rate (from home screen) • Account sign-up rate METRIC BET (HYPOTHESIS) (*Note: numbers are obfuscated.) Quick Rebook
36. regandavis.com cancel button
37. regandavis.com We hypothesize that asking for an account when users try to cancel will … increase [account signup Y%*] • Account sign-up rate • Customer service calls • Cancellation rate METRIC BET (HYPOTHESIS) (*Note: numbers are obfuscated.) Quick Rebook
38. so did it work?
39. regandavis.com quick rebook • major boost in signup • more use of the app overall ✅ cancel button • it did increase signups… • but likely caused more issues 😱
40. “Experiment with multiple solutions. When one of those experiments is a failure, you're not starting from scratch again.” —Shannon Rashedi, Sr. PM, Mobile regandavis.com
41. put the user at the heart of your ideas use analytics to measure if your guess was right keep learning — talk to your users often focus on who measure what ask why regandavis.com
42. FAILURE SUCCESS regandavis.com
43. regandavis.com “genius” actual genius
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46. questions? NEXT STEPS regandavis.com/feedback regan@regandavis.com regandavis.com feedback contact