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How to Optimize Your Product and Business Using Analytics Dan Olsen August 2017
MyBackgroundEduca/onn Engineeringbackgroundn StanfordMBAn UXdesignandcodingExperiencen Managednuclearsubmarinedesignn ProductManagementleaderatIntuitn CEO&Cofounder,TechCrunchawardwinnerYourVersionn PMconsultant:Box,Facebook,MicrosoK,Medallian Founder:LeanProductSiliconValleyTwiMer:@danolsenMyslides:hMp://dan-olsen.com Copyright©2017@danolsen
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n BookgiveawayonTwiMern Tweet:include@danolsenn Hashtags
#leanstartup#prodmgmt#growth
n hMp:///ny.cc/LPP
That’sWhyIWrote
Copyright©2017@danolsen
Iden/fyhighestROIidea
DesignandImplement
AnalyzeHowtheMetricChanges
BrainstormIdeasto
ImproveMetric
Copyright©2017@danolsen
LeanProductAnaly/csProcess
Iden/fyWhatYourMetricsAre
MeasureMetricsBaselineValues
EvaluateMetricsUpsidePoten/al
GlobalLevel
MetricLevel
SelectTopMetric
Learn&Iterate
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Focusonrightmetricatright/me
Iden/fyyour“MetricthatMaMersMost”
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Copyright©2017@danolsen
What’stherightordertoop/mize?acquisi/onconversionreten/on
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~80% never use app again
Curve either goes to zero or flattens out
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@*;")0(E4#R#STUV#N-%,*<91,#
_1(094)%/*,#>%(1#@*,[1)90*,#_%41#
Daily Signup Page Yield vs. TimeNew Registered Users divided by Unique Visitors to Signup Page
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
1/31 2/14 2/28 3/14 3/28 4/11 4/25 5/9 5/23 6/6 6/20 7/4 7/18 8/1 8/15 8/29 9/12 9/26 10/10
Dai
ly S
ignu
p Pa
ge Y
ield
Changedmessaging
Added questionsto signup page
Started requiringregistration
@*;")0(E4#R#STUV#N-%,*<91,#
Registration Page Conversion Rate vs. Time
Reg
istra
tion
Pag
e C
onve
rsio
n R
ate
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Case Study
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Active Users
Prospective Users
Invite Click
Succeed
Invite click-through rate
Conversion rate
Don’t Click
Fail
Invites per sender
% of users sending invites
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Users
% of users who are active
= 15% = 2.3
= 85%
Registration Process
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TheUpsidePoten/alofaMetric
0
100%
0
100%
0
?
Registra/onProcessYield
%ofuserssendinginvita/ons
Avg#ofinvitessentpersender
2.3
85%
15%
Maxpossibleimprovement
0.15/0.85=18% 0.85/0.15=570% ?/2.3=?%
Copyright©2017@danolsen
Isanyonefeelingasenseofdéjàvu
rightnow?
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Okay,sohowcanweimprovethemetric?
n Howdoweincreasetheaveragenumberofinvitesbeingsentoutpersender?
n Foreachidea:n What’stheexpectedbenefit?(howmuchwillitimprovethemetric?)
n What’stheexpectedcost?(howmanyengineer-dayswillittake?)
n Youwanttoiden/fyhighestROIidea
Copyright©2017@danolsen
6K1)#L%+,&E0,(#6--)199#$**'#?=;*)41)t#
@*;")0(E4#R#STUV#N-%,*<91,#
AKerLaunchingAddressBookImporter…
Copyright©2017@danolsen
6K1)#L%+,&E0,(#6--)199#$**'#?=;*)41)t#
@*;")0(E4#R#STUV#N-%,*<91,#
Iden/fyhighestROIidea
DesignandImplement
AnalyzeHowtheMetricChanges
BrainstormIdeasto
ImproveMetric
Copyright©2017@danolsen
LeanProductAnaly/csProcess
Iden/fyWhatYourMetricsAre
MeasureMetricsBaselineValues
EvaluateMetricsUpsidePoten/al
MetricLevel
SelectTopMetric
Learn&Iterate
GlobalLevel
Questions? @danolsen http://dan-olsen.com Will notify book winners on Twitter Happy to connect on LinkedIn