Showing posts with label Sales. Show all posts
Showing posts with label Sales. Show all posts

Thursday, December 1, 2011

Lean Coffee: Pirate Metrics and Customer Feedback

Great little Lean Coffee session this morning at Big Bang. My notes:
  • How do you decide what to build?
  • AARRR!
    • Acquisition: Signups
    • Activation:
      • Subjective: 1 post, 2 posts, a series of events?
    • Retention
      • How many coming back every X days, X months
      • "Active users"
    • Referral
    • Revenue
  • Example: How many signups per blog posting?
  • Focus on one metric at a time -- for instance "how do we get people to activate?"
  • Activation phase: Need to focus on particular group/niche
  • What is that "painful" thing people need to do to set up
    • Switching costs
  • Revenue: What makes the highest profit?
  • Sometimes your metrics are wrong
    • For instance, are your activations _really_ activations?
  • Metrics: Are you tracking the "offline" parts of the experience?
  • Retention: Continued activations
  • It's not just one feature -- it's how they all fit together
  • Everyone has their one different "one thing"
  • You can divide into different users groups, and each one can have their own activation
  • Example metric for Basecamp: "User has a conversation"
  • You often have to sell to your customer multiple times
  • Activation metric should always be testing your _new_ users, not mixed up with existing users
  • What set of features provide the most value: to customer, to business
  • Which feature is causing us the most problems?
  • Start measuring first -- then set goals

SUPER BONUS!!! Live screenshots from PMRobot's custom dashboard.

You can have a look at the type of metrics we currently track.

Click to zoom in.

Recent signups: Note that contact information is right there so we can email for feedback quickly

"Active" users: Currently defined as created more than 7 days ago and logged in within past 7 days

More active users: We use highlighting and bold to show which ones are further along in the process

Organization dashboard: Shows a small subset of "key" accounts

Tuesday, March 22, 2011

Problems Worth Solving

Today at Lean Coffee Toronto, we discussed the topic of "Problems Worth Solving".

We focused primarily on Customer Development and validation with some great discussion points:

  • Relatively few products ever see "the light of day"
  • Very few businesses (10%?) make it past the 2-year mark
  • There's often a difference between end user and the person who's going to pay, ie. the customer
  • Value chain: Need to talk to everyone, but be careful about focusing only on one piece at a time
  • Developing a product inside a service business
    • Risk of being introverted when you develop in-house
    • Risk of entrenching vision and ability to pivot
    • Often need to take a step back and talk to people outside
  • Customer development
    • Validate your problem first
    • Then validate your sales process and ecosystem
  • Is it acceptable to sell a product that isn't 100% finished yet?
    • Yes. Find out if the idea sells. If yes, go to next step.
  • Lean: Is there a kisk of killing bad ideas?
    • Yes, but very small compared to the risk of building something nobody cares about
  • Most devs are not good salespeople naturally
    • Need to develop your sales skill set
    • Session idea: Lean sales?
  • Danger of "sales people" do customer validation -- might get overly optimistic early results
  • Using Google ads, etc. to test hypothesis / validate customers
    • A few people had tried this
  • Kickstarter is essentially the Lean model (but need a US bank account)
Thanks to everyone for their participation, and to Mark at BNOTIONS for hosting and moderating.