[WMD 2015] Greylock Partners >> Josh Elman, "Launching A Rocket Off Someone Else’s Back: How To...
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Transcript of [WMD 2015] Greylock Partners >> Josh Elman, "Launching A Rocket Off Someone Else’s Back: How To...
Launching a Rocket off Someone Else’s Back: How to build on other platforms
Josh Elman @joshelman
May 1, 2015
Longer answer:
1) Companies start with zero users. They need to get in front of users to grow.
2) Big platforms have a lot of users. There are lots ways to get in front of those users.
We live in an age of HUGE platforms
Description
signed up yesterday
active users used the service in last month
inactive users last used service 1 month ago
resurrected users first use in over 1 month
Ok, but how can I tell?
1) Usage: Do they use your product how you expect?
Track: #users taking core actions each day
2) Cycle: Do they use it at the frequency you expect? Track: #users who visit at least N days in a week or month
3) Retention: Are they sticky? Will come back to this…
LinkedIn Circa 2005Usage: Find and be found
Cycle: Find: 2-3x/week Track: #users who log in and search per day
Be found: 1-2x/year(?) Track: response rate to InMail
YelpUsage: Find local businesses/services. And review them.
Cycle: Searchers: 2-3x/weekTrack: #users who search per day Reviewers: 1x/week(?)Track: #reviews / day
FacebookUsage: Stay connected with friends
Cycle: 2-3x/dayTrack: #users who log in and view News Feed
Really really using? (aka “Core Users”)
1) Top of Mind: Do they come directly to your product vs referred by a link or special offerTrack: % users with direct traffic / engagement
2) Recurring: Do they come back again and againTrack: % users who return weekly/monthly
3) Referring: Do they share it with others? Track: k-factor, and % users who are referrers