The Lean Startup - Startup Analytics

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  • Lean Startup Dr. Judith Gentz Fachhochschule Wedel | 8. Juni 2016 4 Startup-Analytics

  • 4 Startup Analytics

    Teil 1

    Startup Analytics

    Teil 2

    Till Kubelke und Daniel Hanelt im Gesprch

    Absolventen der FH Wedel und seit der Uni ber 15 Jahre berzeugte Unternehmer

  • Validiertes Lernen ist ein Prozess, der empirisch nachweist,

    dass ein Team wichtige Wahrheiten ber die

    gegenwrtigen und zuknftigen

    Geschftsaussichten entdeckt hat.

    Quelle: Ries, Eric (2011): The Lean Startup. New York 2011

    http://www.youtube.com/watch?v=quhjvFRbs8c

  • Validiertes Lernen

    Build

    Measure Learn

    Experiment

    Metric Hypothesis

    Quelle: Ries, Eric (2011): The Lean Startup. New York 2011

  • ? Was sind Metriken bei einem Startup?

    Visits

    Logins

    Satisfaction

    Clicks

    Usage

    Returns Shares

    Access

    Sign-ups

    Downloads

    Tell friends

    Payments

    Gross Profit

    ROI (Return on Invest)

    Life Time Value

    Churn Rate

    Conversionrates

    Month-on-month Growth Customer Acquisition Costs

    Cost per Action

    Active Users

    Revenue Recurring Revenue

  • Accessible Auditable

    Actionable

    3 As of metrics

    ties specific, repeatable actions to observed results

    can be understood by entire team

    go behind the numbers

    Quelle: Ries, Eric (2011): The Lean Startup. New York 2011

  • Einfache Charts

    Quelle: Maurya, Ash (2012): Running Lean: Iterate from Plan A to a Plan That Works. Sebastopol/CA 2012 http://de.slideshare.net/LeanStartupConf/ash-maurya-slides-2013

  • Fortschritt kommunizieren

    Quelle: Maurya, Ash (2012): Running Lean: Iterate from Plan A to a Plan That Works. Sebastopol/CA 2012

  • Problem/ Solution-Fit

    Product/ Market-Fit Scale

    Start here! Achieve this

    Traction

    Time

    Lean Startup Stages

    Quelle: Maurya, Ash (2012): Running Lean: Iterate from Plan A to a Plan That Works. Sebastopol/CA 2012

  • Problem/ Solution-Fit

    Product/ Market-Fit Scale

    Traction

    Time

    Lean Startup Stages

    Quelle: Maurya, Ash (2012): Running Lean: Iterate from Plan A to a Plan That Works. Sebastopol/CA 2012

    Interviews

    Demos

    Videos

    Landing Page

    MVP Minimum

    Viable Product

  • Quelle: Maurya, Ash (2012): Running Lean: Iterate from Plan A to a Plan That Works. Sebastopol/CA 2012

    Problem Interview Skript

  • 1. Persnliches Feedback z.B. via Blogs, Kunden-Interviews

    2. Offene Fragen/zuhren, was Leute sagen z.B. via Communities

    3. Kundenfeedback und Bedarfe ermitteln z.B. via Umfragen mit und ohne monetren Anreiz

    4. Substanzielles Feedback durch Vorbestellungen z.B. via Crowdfunding Plattformen, Bestellungen

    5. Kundenversprechen testen/Kundensegmente ermitteln z.B. via Test Ads

    Quelle: Teten, David (2015): 10 Experiments to Test Your Startup Hypothesis, http://www.entrepreneur.com/article/243528

    Weitere Experimente Phase 1: Problem-Solution-Fit

  • 6. Nutzungs- und Verwendungsexperimente z.B. via A/B-Testings, Prototypen-Designs

    7. Feedback ber die Verwendung z.B. Gesprche mit echten Kunden ber die Benutzung des Prototypen

    Quelle: Teten, David (2015): 10 Experiments to Test Your Startup Hypothesis, http://www.entrepreneur.com/article/243528

    Experimente Phase 2: Product-Market-Fit

  • 8. Kundensegmentierung z.B. Verkaufsversprechen fr welche Zielgruppen, Google Adwords-Analyse mit Kohorten- und Conversiontracking

    9. Channel-Analyse (welcher Kanal erzielt die hchste Markttraktion) z.B. Cross-Promotion, Channel-Tests Influencer-Analyse

    10. Weiterempfehlungen (mit und ohne monetren Anreiz)

    Quelle: Teten, David (2015): 10 Experiments to Test Your Startup Hypothesis, http://www.entrepreneur.com/article/243528

    Experimente Phase 2: Product-Market-Fit

  • Build

    Measure Learn

    Idea Code

    Data Quelle: http://theleanstartup.com/principles

    MVP Minimum Viable Product

  • A minimum viable product (MVP) is the "version of a new product which allows a team to collect the maximum amount of validated learning about customers with the least effort. Eric Ries

  • Minimum Viable

    Product Idea Creation

    Feature Priori-

    tisation

    Implement Feature

    Test Feature

    Collect Feedback

    & Data

    Customer Analysis

    Different Base

    Product Pivot

  • Time

    Test Software Test Business Model

    Software Product Concierge Product

    Hardware Product Physical Product

    Test Hardware Test Business Model Test Software

    Launch MVP

    Launch MVP

    In Anlehnung an: Chen, Elaine (2013): Lean Startup, Hardware Edition, http://de.slideshare.net/chenelaine/lean-startup-hardware-edition-20563840, S. 52

  • Video Trailer Concierge MVP Mechanical Turk Boomerang Analog/physical Dry-Wallet High Hurdle

    Lean Experiment Techniques

    Kramer, the Movie Expert

    Quelle: Cooper, Brant (2014): Lean Experiment Techniques, http://www.movestheneedle.com/enterprise-lean-startup-experiment-examples/

    https://www.youtube.com/watch?v=qM79_itR0Nc

  • Experiment Report | Ash Maurya

    Background What are you trying to learn or achieve?

    Results Enter your qualitative/quantitative data.

    Validated Learning Summarize your learning from the experiment. [VALIDATED or INVALIDATED]

    Next Action What is the next experiment?

    Falsifiable Hypotheses Declare your expected outcome. Use this format: [Specific Repeatable Action] will [Expected Measurable Outcome]

    Details How will you setup this experiment?

    Title: [TITLE] Author: [NAME] Created: [DATE]

    Quelle: Maurya, Ash (2012): Running Lean: Iterate from Plan A to a Plan That Works. Sebastopol/CA 2012

  • Pirate Metrics

    Acquisition

    Activation

    Retention

    Referral

    Revenue

    Customer Funnel

    How do users find you?

    Do users have a great first experience?

    Do users come back?

    Do users tell others?

    How do you make money?

    Quelle: McClure, Dave (2007) Startup Metrics for Pirates.

  • 5 Step Web-Startup Metric Model

    Activation

    Acquisition

    Referral

    Retention

    Revenue

    AARRR

    Quelle: McClure, Dave (2007) Startup Metrics for Pirates.

    http://www.youtube.com/watch?v=irjgfW0BIrw

  • 1. Problem/Solution-Fit Activation & Retention 2. Product/Market-Fit Acquisition & Referral 3. Skalierung Revenue & Profitability

    Prozess

    Quelle: McClure, Dave (2007) Startup Metrics for Pirates.

  • Activation 1st visit happy experience

    Homepage/ Landing Page

    Product Features

    Was machen die Nutzer bei Ihrem ersten Besuch? Schlssel-Metriken

    Pages per visit Time on site Conversions

    Quelle: McClure, Dave (2007) Startup Metrics for Pirates.

  • Retention come back multiple usage

    Warum kommen Nutzer zurck und wie oft?

    Schlssel-Metriken

    Quelle der Wiederkehrer Wiederkehrrate Conversions Nutzerloyalitt Session-Lnge

    E-Mails, Alerts

    System-Events, Time-based features

    Blogs, RSS, News Feeds

    Quelle: McClure, Dave (2007) Startup Metrics for Pirates.

  • Acquisition come from various channels

    Wo kommen die Nutzer her?

    Schlssel-Metriken je Quelle

    Anzahl Nutzer Kosten Conversion

    SEO

    SEM Social

    Networks

    PR

    Blogs

    Campaigns, Contents

    Biz Dev Direct, Tel, TV

    Domains

    Apps, Widgets

    E-Mail

    Affiliates

    Quelle: McClure, Dave (2007) Startup Metrics for Pirates.

  • Referral like product enough refer to others

    Wie empfehlen Nutzer das Produkt weiter?

    Schlssel-Metriken

    % Einladungen X # Einladungen Y % akzeptierte

    Einladungen Z Viral Growth Factor = X*Y*Z

    Viral Loops

    E-Mail Widgets

    Affiliates Contests

    Quelle: McClure, Dave (2007) Startup Metrics for Pirates.

  • Revenue monetization behavior

    Wie verdiene ich Geld?

    Schlssel-Metriken

    Minimum Umsatz Break-even Umsatz Profitabilitt

    Ads, Lead Generation,

    Subscriptions, Ecommerce

    Biz Dev

    Quelle: McClure, Dave (2007) Startup Metrics for Pirates.

  • Beispiel

    Stage Conversion Status Conv. % Est. Value

    Acquisition Visitors on Site/Widget/Landing Page (2+ pages, 10+ sec, 1+ clicks = dont abandon)

    60% $ 0.05

    Activation Happy 1st visit; Usage/Signup (clicks/time/pages, email/profile reg, feature usage)

    15% $ 0.25

    Retention Users come back; Multiple visits (1-3x visits/mo; email/feed, open rate/CTR)

    5% $ 1

    Referral Users refer others (cust sat >= 8, viral g factor > 1 1% $ 5

    Revenue User pay; Generate $$$ (first rev, break-even, target profitability)

    1% $ 50

    Quelle: McClure, Dave (2007) Startup Metrics for Pirates.

  • EXPERIMENT QUEUE

    Lean Dashboard | Ash Maurya

    Quelle: Maurya, Ash (2012): Running Lean: Iterate from Plan A to a Plan That Works. Sebastopol/CA 2012

    SUCCESS METRICS CURRENT METRICS

    EXPERIMENTS

    PROBLEM/SOLUTION FIT PRODUCT/MARKET FIT SCALE

    KEY OBJECTIVE ACTIVE EXPERIMENTS COMPLETED EXPERIMENTS

    BUILD MEASURE LEARN

    AARRR KEY METRICS REVENUE STREAMS

    EXPERIMENT REPORT

  • EXPERIMENT QUEUE

    Lean Dashboard | Ash Maurya

    Quelle: Maurya, Ash (2012): Running Lean: Iterate from Plan A to a Plan That Works. Sebastopol/CA 2012

    SUCCESS METRICS CURRENT METRICS

    EXPERIMENTS

    PROBLEM/SOLUTION FIT PRODUCT/MARKET FIT SCALE

    KEY OBJECTIVE ACTIVE EXPERIMENTS COMPLETED EXPERIMENTS

    BUILD MEASURE LEARN

    20 Customers

    200 Customers

    2,000 Customers

    8 weeks from now

    1.5 years from now

    3 years from now

    Acquisition Activation

    Revenue Retention

    Referral 1,000 100%

    800 80%

    400 50%

    200 50%

    200 25%

    $ 20,000 MRR

    Oct 1

    1-Page SaaS Metrics will resonate strongly

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  • Till Kubelke und Daniel Hanelt im Gesprch Absolventen der Hochschule und Entrepreneure seit der Uni

  • Vielen Dank.

  • Prozess Startup Analyse

    Product

    Strategy

    Vision

    Why

    How What

    Quelle: Ries, Eric (2011): The Lean Startup. New York 2011; Sinek, Simon (2009): Start With Why: How Great Leaders Inspire Everyone to Take Action

  • Lean Stack

    Quelle: Maurya, Ash (2012): Running Lean: Iterate from Plan A to a Plan That Works. Sebastopol/CA 2012

    1 Lean Canvas

    2 Lean Dashboard

    3 Experiment Report

    Why

    How

    What

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