Rockaway Academy – Workshop #4 Growth

HackingRadko Sekerka

Agenda

1. Key personas, how to define them and why we should map customer flows

2. How to setup key metrics; define goals and KPIs3. Calibrate data – start measuring actuals and reforecast4. Optimize Free Trial Signup5. Improve monetization campaign, redo pricing, apply discounts

Map business story

Defining personaUser A (Sonia,35)

She is socially inert.

She spends her leisure time watching TV.

She loves cooking.

She googles up recipes and watches cookery shows on TV.

Her major medium of communication is phone call.

She is not very active in technology usage. However would love to explore its use and existence.

User B (Priya,32)

She is socially very active.

She is an active blogger.

She has a part-time job.

She loves experimenting with food and sharing the new recipes with others.She has an active friend circle which meets during regular gatherings.

She is a tech-saavy personality.Source: https://team5dblog.wordpress.com/

Flowmap

Source: http://smashinghub.com/9-easy-steps-towards-designing-an-iphone-app.htm

Prototypehttps://marvelapp.com/4590d7

Define key metrics, KPIs, dashboard

• Web & Product metrics• Cohorts - User Retention• Monitor customer journey• Overlaid Cohorts - Revenue Retention• A/B test

Web/product metrics

Page1 Page2 Page3Demo page 1

Demo page 2 SignUp

Welcome page

Welcome Email Opened

Welcome email clicked

Product page1

Product page 2

Product page 3 Added users

1 product defined

1-3 products defined

more than 3 products defined Comments Pricing page

Opened buy now email

Clicked buy now email Order Renewal

user_id_1 10 5 10 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0

user_id_2 5 45 3 54 45 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0

user_id_3 33 5 15 3 3 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0

user_id_4 45 7 88 6 5 1 1 1 1 3 3 2 0 0 0 0 0 0 0 0 0 0

user_id_5 3 44 3 7 8 1 1 1 1 7 5 8 3 2 3 0 0 0 0 0 0 0

user_id_6 4 5 6 7 8 1 1 1 1 5 6 4 4 4 1 2 1 3 1 1 0 0

user_id_7 5 6 9 7 8 1 1 1 1 3 7 0 5 6 1 4 2 6 2 2 0 0

user_id_8 6 12 12 7 8 1 1 1 1 1 8 4 6 8 3 6 3 9 3 3 1 0

user_id_9 7 6 15 7 8 1 1 1 1 1 9 0 7 10 5 8 4 12 4 4 1 1

Visitor Explorer Light User Heavy user Customer

KPI1 KPI2 KPI3

KPI4 = % conversion rate

KPI5 = revenue per visitor

High Level Dashboard

Source: http://techcrunch.com/2015/02/26/branch-metrics-raises-15-million-for-its-smarter-mobile-deep-linking-technology/

Focus on Key metrics

Visits and Source of traffic

Installs in trended view

Conversion funnel

Cohort analysis – product fit

Source: http://blog.usercycle.com/dau-driven-product-management/

Retention profilesThe charts below show three real products, and how many users from each daily cohort show up for the 11 days after sign up.

Product #1 is in trouble. Just about all users are gone by Day 2.

Product #2 is doing a little better. Users stick around to Day 6, but still zeros out. No product/market fit yet.

Product #3 has clear traction. A steady % of signups are still around 11 days in, and things level out from there (with a very slow decline from there. Some products like Evernote manage to reach zero slope, but it's rare.)

Monitor customer journeyCustomer success is proactively leading and monitoring your customers’ journey with your product

Know when and why to reach out to a customer. Keep track of every user. Deliver the results they expect. Make them happy.

Make opportunities happen

Source: http://www.totango.com/

Revenue RetentionKnowing your customer's LTV is critical to projecting growth (and, importantly, raising money)

Measure and analyze true LTV for each cohort and how this changes over time

Source: https://usercycle.com/recipes/overlaid-cohorts-revenue-retention

A/B test

Source: http://www.wplama.cz/wordpress-pluginy-na-ab-testovani/

! Make sure the test is running long enough to achieve significant statistical significance! Watch data in trended view to eliminate seasonal anomalies

Optimizing the Free Trial SignupLearn from: http://conversionxl.com/optimizing-the-free-trial-signup/

5.3% Refund

46.2 % Renew

17.1% unsubscribe from Annual billing

56% start in Annual billing

Total Expiring Licenses

1.2M licenses

538K start outside of AB

137K renewed (25.5%)

674K start in AB

559K remain in AB

62.5% AB Authorizations

28K refunded (7.1%)

63K manually renewed (11.2%)

116K unsubscribe

11k renewed (9.6%)

54%

13.9%

24.4% 66.2% 10.3% 13.2%

7.9% 1.4%1.4% 1.4%

H2 2014

46.4%

5.7%

33%

8.2%

25.6% 67.0% 16.2% 14.0%

5.8% 1.5%1.5% 1.5%

H2 2013

51.5%

5.0%

Retention – transaction flow

A

B

C

D

Installer First day First 15 days

[Geo][Acq.Camp] [Product data][license data] [Product data][Campaign data][License data]

Smarter targeting – event/lifecycle based

Smarter targeting – event/lifecycle based

Installer First day First 15 daysTrial Offer

Trial Offer

Trial Offer

[Geo][Acq.Camp] [Product data][LS data] [Product data][Campaign data][LS data]

Smarter targeting – event/lifecycle based

First day First 15 daysPCT OfferToolbar Offer

Mobile Offer

PCT Offer

Mobile Offer

PCT OfferMobile Offer

Mobile Offer

Installer

[Geo][Acq.Camp] [Product data][LS data] [Product data][Campaign data][LS data]

Smarter targeting – event/lifecycle based

First 15 daysInstaller First dayUpgrade Campaign

OTAP campaigns

Email Campaigns

Upgrade CampaignOTAP campaigns

Email Campaigns

Upgrade CampaignEmail Campaigns

Email Campaigns

Toolbar re-offer

[Geo][Acq.Camp] [Product data][LS data] [Product data][Campaign data][LS data]