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PYROS Deep Dive: Metrics

PYROS Deep Dive: Metrics

PYROS Deep Dive 3: Metrics and creating an analytics tracking plan

Regan Davis

March 10, 2022
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  1. metrics
    regan davis
    BUILD | deep dive #3
    PYROS


    creating products that are
    made to measure


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  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

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  3. regandavis.com
    CORE METRICS
    TRACKING PLAN
    OPTIMIZATION
    “DATA DRIVEN”
    agenda

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  4. regandavis.com
    what,
    not why
    analytics tell you
    CORE METRICS

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  5. regandavis.com
    compare &
    contrast
    data’s purpose:

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  6. regandavis.com
    pirate metrics
    (Credit: Dave McClure, Melanie Blake via Medium)

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  7. regandavis.com
    ACTIVATION
    ACQUISITION
    RETENTION
    REFERRAL
    REVENUE
    (Credit: Dave McClure, Melanie Blake via Medium)

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  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)

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  9. regandavis.com
    customer journey
    airport parking customer journey
    ACQUISITION ACTIVATION ACTIVATION
    AWARENESS KNOWLEDGE INTENT

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  10. regandavis.com
    Let’s try it.
    Customer journey sheet

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  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)

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  12. regandavis.com
    funnels
    ACQUISITION
    TRACKING PLAN

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  13. regandavis.com
    conversion

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  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

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  15. regandavis.com
    next
    What are the paths they take
    to get there?
    • capture an event for each step in each path


    • create a funnel from the steps that are common

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  16. regandavis.com
    track
    Events and Properties
    • Screen


    • Trigger


    • Action (Event)


    • Extra info (Properties)


    • Description

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  17. regandavis.com
    Let’s try it.

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  18. regandavis.com
    Craigslist seller flow OPTIMIZATION
    Conversion Rate: 0.03%

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  19. regandavis.com
    Craigslist seller flow
    “99/1 rule”

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  20. regandavis.com
    Craigslist seller flow

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  21. regandavis.com
    hypothesis driven
    development
    “DATA DRIVEN”

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  22. regandavis.com
    “The only difference between
    screwing around and science is
    writing down your results.“
    — Adam Savage, Mythbusters

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  23. regandavis.com
    What do we think will happen?
    OPPORTUNITY
    METRIC
    hypothesis
    PROBLEM
    HYPOTHESIS

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  24. regandavis.com
    Users can’t run a quick search for a
    frequent destination.


    Improve conversion rate and create
    a personalized app experience.
    We hypothesize that Saved
    Addresses will help customers [search
    more quickly] and increase
    [conversion 50%*]
    • Search Landing Conv. Rate


    • Adoption Rate (from home screen)
    PROBLEM OPPORTUNITY
    METRIC
    HYPOTHESIS
    (*Note: numbers are obfuscated.)
    saved places

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  25. regandavis.com
    pop quiz

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  26. regandavis.com

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  27. regandavis.com
    “genius” actual genius

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  28. regandavis.com
    assignment:
    1. Take your user story map from Deep Dive #2 and
    underneath each step, add a metric to track.


    2. Write a hypothesis statement for an extra feature on your
    product that lays out what change you expect to see and
    what metric you’ll monitor.


    Next week, you’ll share and workshop your hypotheses in
    breakouts.
    BUILD | deep dive #3

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  29. thanks.

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  30. regandavis.com

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  31. regandavis.com

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  32. questions?
    NEXT STEPS
    regandavis.com/feedback


    [email protected]
    regandavis.com
    feedback


    contact

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