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  • build, measure, learn 🔁
  • design product for product/market fit (demand now not in X years)
  • much knowledge about metrics based on online marketing (A/B testing, funnels, referral, optimization, …)
    • but online marketing is not innovation, it’s optimization
  • we need product insights
    • focus on making (few) people stay and use your product first – to gain insights from active user’s
    • ask questions = make assumptions (hypothesis)
    • validate/falsify assumptions
  • don’t use metrics/graphs that always go up anyway to measure your progress (only for press)
  • don’t only measure single users or averages
    • use cohorts, medians and standard deviations e.g.
    • use intution for the rest
  • good KPI’s:
    • validation/falsification of assumptions
    • rate/ratio (relative scales)
    • comparisons (to own history – not market)
    • explanations (for your assumptions)
  • look at your own history
    • compare your progress to your own history (not only others or benchmarks)
    • maybe use industry averages as reality check
  • measure based on user phase
    • Acquisition, Activation, Retention, Referral, Revenue (AARRR)
  • measure the right things
  • have different charts
    • for your internal development (must hurt)
    • for stakeholders/investors (must convince them)

Slides Summary

  • use metrics for product and customer development
  • use cohorts
  • use AARRR
  • figure out customer intent through non-biasing interviews
  • understand your type of product and it’s core drivers
  • find KPI’s that mean something to your spefific product
  • filter noisy data
  • metrics need to hurt
  • focus on the first 30 days of customer activation
  • connect product hypothesis to metrics
  • don’t hide behind numbers

Conclusion

  • use metrics to validate/doublecheck
    • to complement your ideas and feelings
  • use insights when designing for or speaking to your customers

Sources