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In a previous post , I covered the three main drivers of growth: Paid, Sticky, and Viral. Let’s look at a viral growth company, like Facebook. If you are building a large, viral, ad-support consumer internet property, you just want to go big! They’re off to cross the chasm. As soon as possible!&#
Products can find sources of validation with impressive stats along a number of dimensions, such as high engagement, viral coefficient, or long-term retention. The Lean Startup Intensive is tomorrow at Web 2.0. Amazing lean startup resources Is Entrepreneurship a Management Science? Expo SF (May.
This is a common problem that results from viral-loop optimization. By copying the exact same registration flow as every other successful viral app, many viral apps completely lose their positioning. At IMVU , we would routinely find retention effects that would stem from registration changes and have impact days or weeks later.
Lessons Learned by Eric Ries Tuesday, December 16, 2008 Engagement loops: beyond viral Theres a great and growing corpus of writing about viral loops, the step-by-step optimizations you can use to encourage maximum growth of online products by having customers invite each other to join. This is essentially a version of the viral loop.
And Jennifer is now my co-instructor in the Stanford Lean LaunchPad class.). Over the last two decades Shawn has seen hundreds of startups use the Lean Methodology. In other words, you prove retention. With both growth and retention, you earn the right to build more. The MVP Tree. We call it an MVP tree.
Revenue is always my preferred measure, but you can use anything that is important to your business: retention, activation, viral invites, or even customer satisfaction in the form of something like net promoter score. The Lean Startup Intensive is tomorrow at Web 2.0. Expo SF (May. for Harvard Business Revie.
R : Retention - do they come back & re-visit over time? These are captured fairly well by his slide: The beauty of what he's defined is the relationship between retention and referral efforts and lifetime value. A : Activation - what % have a "happy" initial experience? R : Referral - do they like it enough to tell their friends?
” April, 2012 – Andrew Chen writes Growth Hacker is the new VP Marketing , which goes viral (2.4K This means users love it, that there’s lots of retention and engagement, even at small numbers. Now, people begin defining growth hacking as a process, a systematic approach, a “viral loop”, etc.
I read some great stuff today on topics like why aren’t VCs lean and scrappy , and why Pinterest took so long to go viral , but the pick of the bunch by far were some of the answers to What are some decisions taken by the “Growth team” at Facebook that helped Facebook reach 500 million users? But maybe I should.
See, when people lean on NPS like it’s a magic number, it doesn’t do much good. Net Promoter Score has been shown to correlate with customer loyalty, retention and growth – but not always. There are also studies that have suggested NPS isn’t as predictive of growth, retention, or virality that the initial research claimed.
I think its helpful to think about two kinds of competition for distribution: acquisition competition and retention competition. On the web, we have many of these channels: SEM, SEO, world of mouth, PR and viral. Retention competition is how you get people to come back to your app. My advice: dont launch big.
is an elegant way to model any service-oriented business: Acquisition Activation Retention Referral Revenue We used a very similar scheme at IMVU, although we werent lucky enough to have started with this framework, and so had to derive a lot of it ourselves via trial and error. But its not really viral growth, even when its exponential.
Andrew : Why Loom and Zoom and Clubhouse and some of the other new social experiences benefit is that you can use the current boom in engagement and viral growth to build out your network. In a lot of the startup conversations I’ve been having, if you lean too far that way, it doesn’t resonate with people. Andrew : Right.
As a analytics consultant I am working with a lot of startups and help them in the topics of metrics, analytics, retention and growth. Conversion Rates, Landing Page Optimizations, Funnel Optimizations, Viral Loops, Quick questions and insights are they typical examples of usecases of exploration. 6th January 2014.
The second relies on retention. As Alistair Croll and Benjamin Yoskovitz detail in their book, Lean Analytics, cohort analysis has special relevance for the customer lifecycle, enabling marketers. Cohort analysis can be done for revenue, churn, viral word of mouth, support costs, or any other metric you care about.
And thanks to Ann Miura-Ko of Floodgate (my first Lean LaunchPad co-instructor) for her suggestions. You’ve built detailed analytics tracking into your product and you should be seeing organic and viral growth; and can provide Daily/Weekly/Monthly Active Users, 30d/90d/120d retention. 2M in 18 months.
It’s harder for people (including your own team) to intuit the implications of your retention rate. The lean startup book’s engines of growth is a great starting point for picking good metrics: Growing virally? Focus on retention. They’re default. You must actively reject them. Picking good metrics.
Just as.NET is both a lock-in and very restricting, and Java violates both “lean cuisine class hierarchy” and “objects if necessary, but not necessarily objects”, the “we’ll just use XML” mantra deserves to die. That would have given you a trifecta. Only like minds want to work for someone like that.
Strategy & Testing: The a-ha moment is the tipping point for retention. The a-ha moment is the tipping point for retention. This entire model is very close to the Lean Startup model. Day 3 – Analytics, Personalization and Retention. Retention is probably the most under talked about part of CRO.
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