Metrics That Matter Presented by Chris Geoghegan
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Metrics That Matter
Presented by Chris Geoghegan
Who Am I?
• Chris Geoghegan• Product Manager at Peer Giving Solutions• Build software for charities • Advise fundraising consultants• 13+ Years of Experience as Knowledge Worker
Who Am I?
• Chris Geoghegan• Product Website: http://peergiving.com• Charity Blog: http://ideas.peergiving.com • Twitter: chrisgeoghegan• Email: [email protected]
Who Are You?
“There are three kinds of lies: lies, damned lies, and statistics”
~ Mark Twain
metrics
Not a single thing on this page helps me make good decisions.
VANITY METRICS
Don’t be this guy!
VANITY METRICS ARE DANGEROUS
SO WHAT THEN?
Actionable Metrics
Actionable – Accessible – Auditable
~ Eric Ries
Metrics that matter are actionable.
If they aren’t answering your most important questions then don’t waste your time.
1. How do you gain or lose revenue?2. How do you gain or lose customers/supporters?3. What are key benefits that people are coming to
you for?
HINT: Track the MACRO not the micro
Metrics that matter are accessible.
1. How easy is for any decision maker to gain access to current reports?
2. How easy is for any decision maker to understand and act on the metrics?
Metrics that matter are auditable.
Think Scientific Method. Can the metrics be trusted, verified as accurate, and reproducible?
Metrics that matter track people.
“Metrics are People too.” ~ Eric Ries
Are you tracking the behavior of smaller, logical groups of people? Or possibly even individuals?
Exercise: Identifying Your Key Metrics
1. Determine the 3-5 most important macro metrics for your organization.
2. Test them against the questions in the previous slides to make sure they are actionable and not vanity metrics.
3. Map those metrics to events that can be tracked. (i.e. visiting a specific page, clicking a link, filling out a form)
4. Start Tracking
Tools
1. Google Analytics: It’s extremely likely that your top 5 metrics are going to be either goals or events.
2. KISS Metrics or MixPanel: Google Analytics alternatives.
Metric-Based Decision Frameworks
Funnels, Cohorts, A/B Testing
Funnels
• A series of events that represent a progression towards some goal
• Identifies how many people move from the previous event to the next one
• Funnels can represent the macro and the micro
• Macro Example: User Lifecycle• Micro Example: Donation form/wizard
AARRR!
AARRR: User Lifecycle Funnel
Acquisition Activation Retention Revenue Referral0
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%
What’s Most Important Now?
Acquisition Activation Retention Revenue Referral0
10
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%
How do people find you?
Do people have a good first experience?
Do people come back?
How do you raise funds?
Do users tell others?
Exercise: What’s Your Lifecycle?
Cohorts
• A group of people• Share a common characteristic or experience• Exposed to similar conditions• Behaviour is tracked• Compared to other cohorts
Examples of Cohorts
• Before & After Tests• Time Periods• Marketing Sources• Product Versions• Priming• Demographic Information
Exercise: Cohorts
• Based on some of the suggestions in the previous slides what are some relevant cohorts for your organization you could begin tracking?
Special Cohort: A/B Testing
• The Gold standard of web metrics• Usually comparing a hypothesis against an
original• Big changes, one at a time• Statistical significance is important!
http://getdatadriven.com/ab-significance-test• Ballpark = 100 conversions
Tools
• Google Analytics– Funnels, but a bit limiting– A/B with “Content Experiments”– “Advanced Segments” can provide some help
• KISS Metrics & Mix Panel are optimized for this sort of thing
Q: WHAT DO I TEST?
A: TALK TO PEOPLE
How to Talk to People
• Usability Tests• Interviews• Surveys• Focus Groups
QUALITATIVE THEN QUANTITATIVE
Exercise: Put it All Together
1. Talk to people2. Develop a hypothesis based on these
conversations3. Identify the relevant macro-actionable
metrics4. Design an experiment using cohorts and
funnels5. Start tracking
Resources• Google Analytics
– Setting up goals: http://analytics.blogspot.ca/2009/05/how-to-setup-goals-in-google-analytics.html– Setting up funnels: http://blog.kissmetrics.com/conversion-funnel-survival-guide/– Setting up Cohorts:
http://blog.rjmetrics.com/the-best-method-for-cohort-analysis-in-google-analytics/– A/B Testing: http://support.google.com/analytics/bin/answer.py?hl=en&answer=1745147
• KISS Metrics & Mix Panel– Their documentation site explains how to setup events, metrics, funnels, cohorts, and run A/B tests– http://support.kissmetrics.com/– https://mixpanel.com/docs
• Usability Testing & Interviews– http://www.amazon.ca/Rocket-Surgery-Made-Easy-Do-It-Yourself/dp/0321657292– http
://www.huffingtonpost.com/michael-b-fishbein/effective-customer-development-interviews_b_2189455.html
Thank You!
• Chris Geoghegan• Product Website: http://peergiving.com• Charity Blog: http://ideas.peergiving.com • Twitter: chrisgeoghegan• Email: [email protected]
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