Startup Metrics 4 Pirates (Wildfire Interactive, May 2012)

I can’t tell how many times I’ve watched the Startups Metrics 4 Pirates presentation. And every time I watch it, I catch something new to apply on Bundlr.

The best part is the 5-step model, a simple way to understand the multiple dimensions of a service:

• Acquisition: users come to site from various channels
• Activation: users enjoy 1st visit: “happy” experience
• Retention: users come back, visit site multiple times
• Referral: users like product enough to refer others
• Revenue: users conduct some monetization behavior AARRR!

Now, I can’t say we’ve been following all the rules. For example, you should had focused first on Activation and Retention, until we can prove we have the solution for a relevant problem. Instead, we’ve been aiming at all the 5 steps indiscriminately, definitely not the best strategy.

But it’s very important to, at least, have a common ground to discuss where we are in terms of product and business. So, if you’re working on a startup, you should make sure everyone on the team understands this 5 steps.