All About Analytics

  • Do not worry about setting up analytics until you're ready to move out of stage 1 and open your product up outside your small test group. Until then, your growth formula will be too fluid to warrant the time necessary to set everything up
  • Analytics should be built around your growth formula and your growth funnel
    • You should ideally set up tracking for each factor in your growth formula
  • Once you have your analytics set up, make sure you post it everywhere so that your team can see it and be constantly aware of it

Setup for Typical Funnel Metrics

Acquisition Metric

  • This is typically signups per week, or something similar
  • Break this up by invite type, so that you can distinguish organic users from referred users
    • This can be done in Amplitude by doing "Event Segmentation" under the signup event you create Retention Metric
  • This depends heavily on your business
    • AirBnB: Bookings per cohort per year
    • Facebook: Active Users per cohort per day
    • Ebay: Value of merchandise sold per cohort per day
  • Organize users into cohorts based on the week they signed up. Track each user cohort over time to get an active usage per week over time
    • This can be done in Amplitude by doing "Retention Analysis" and plugging in your starter event and "standard usage" event

Revenue Metric

  • This depends on your business, but is signified by the specific moment a user of your product hands over their money
    • You can measure improvement in this metric in Amplitude by doing a "Property Value Sum" over all Revenue Metric events

Analytics Tech Stack

  • Before sharing with your first private beta group...
    • Install google Analytics on your site and product. This will identify users coming to your site and let you know when users are new or returning
    • Install Amplitude on you site and product. This will tell you what actions users are taking with your product
    • Set up a direct line between the team and your audience

      • What this looks like depends on your product. For SaaS apps this may be a Live Chat feature on your website, or an welcome email from the founder after signup !Untitled 5.png