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Meaningful metrics
- 4. MEANINGFUL METRICS Tristan Web designer -> Web developer -> Applications developer
- 5. MEANINGFUL METRICS Tristan Web designer -> Web developer -> Applications developer Current project: lead analytics application
- 6. MEANINGFUL METRICS Tristan Web designer -> Web developer -> Applications developer Current project: lead analytics application (shhh ... don’t tell them, but business doesn’t know what they want)
- 7. MEANINGFUL METRICS Tristan Web designer -> Web developer -> Applications developer Current project: lead analytics application (shhh ... don’t tell them, but business doesn’t know what they want) Hence this presentation
- 16. MEANINGFUL METRICS What questions do you really want answered?
- 17. MEANINGFUL METRICS What questions do you really want answered? Is she fertile enough to bear offspring (is she in good reproductive health)?
- 18. MEANINGFUL METRICS What questions do you really want answered? Is she fertile enough to bear offspring (is she in good reproductive health)? Is he good enough in bed (is he fun and pleasurable)?
- 19. MEANINGFUL METRICS What questions do you really want answered? Is she fertile enough to bear offspring (is she in good reproductive health)? Is he good enough in bed (is he fun and pleasurable)? Is my website popular (is it reaching my target audience) ?
- 20. MEANINGFUL METRICS What questions do you really want answered? Is she fertile enough to bear offspring (is she in good reproductive health)? Is he good enough in bed (is he fun and pleasurable)? Is my website popular (is it reaching my target audience) ? How long until I break even from my investment (ROI) ?
- 25. MEANINGFUL METRICS Page views Ad click-through Signup rate Fan count
- 26. MEANINGFUL METRICS Page views Ad click-through Signup rate Fan count Open rate
- 27. MEANINGFUL METRICS Page views Ad click-through Signup rate Fan count Open rate Impressions
- 28. MEANINGFUL METRICS Page views Ad click-through Signup rate Fan count Open rate Impressions Note: none of these are bad _per se_ ; just that they don’t have any meaning by themselves (can’t stand alone)
- 30. MEANINGFUL METRICS Provides a narrow perspective
- 31. MEANINGFUL METRICS Provides a narrow perspective Only scratches the surface
- 32. MEANINGFUL METRICS Provides a narrow perspective Only scratches the surface Superficial meaning
- 33. MEANINGFUL METRICS Provides a narrow perspective Only scratches the surface Superficial meaning “one-night-stand” metrics
- 35. MEANINGFUL METRICS What does the business want to know?
- 36. MEANINGFUL METRICS What does the business want to know? How does this affect the bottom line? (impact)
- 37. MEANINGFUL METRICS What does the business want to know? How does this affect the bottom line? (impact) What are the areas we need to improve on? (highlight weaknesses)
- 38. MEANINGFUL METRICS What does the business want to know? How does this affect the bottom line? (impact) What are the areas we need to improve on? (highlight weaknesses) In other words, will he be a good father/mother to my children?
- 39. MEANINGFUL METRICS What does the business want to know? How does this affect the bottom line? (impact) What are the areas we need to improve on? (highlight weaknesses) In other words, will he be a good father/mother to my children? See http://www.kaushik.net/avinash/web-metrics-super- lame-super-awesome/
- 41. MEANINGFUL METRICS What we’re doing at Mindvalley:
- 42. MEANINGFUL METRICS What we’re doing at Mindvalley: value per lead, per class
- 43. MEANINGFUL METRICS What we’re doing at Mindvalley: value per lead, per class quick run through of [part] of our business model
- 44. MEANINGFUL METRICS What we’re doing at Mindvalley: value per lead, per class quick run through of [part] of our business model Google Adwords -> traffic -> Landing Page -> signups -> Mailing List -> funnel -> Purchase
- 46. MEANINGFUL METRICS System was called Oathkeeper
- 47. MEANINGFUL METRICS System was called Oathkeeper Answers the million dollar question:
- 48. MEANINGFUL METRICS System was called Oathkeeper Answers the million dollar question: How much is a lead worth over time?
- 49. MEANINGFUL METRICS How it works (demo)
- 51. MEANINGFUL METRICS The tech behind Oathkeeper
- 52. MEANINGFUL METRICS The tech behind Oathkeeper Ruby
- 53. MEANINGFUL METRICS The tech behind Oathkeeper Ruby Sinatra
- 54. MEANINGFUL METRICS The tech behind Oathkeeper Ruby Sinatra async_sinatra
- 55. MEANINGFUL METRICS The tech behind Oathkeeper Ruby Sinatra async_sinatra MongoDB
- 56. MEANINGFUL METRICS The tech behind Oathkeeper Ruby Sinatra async_sinatra MongoDB Mongoid
- 58. MEANINGFUL METRICS Initially rolled out for Google Adwords, and it worked great
- 59. MEANINGFUL METRICS Initially rolled out for Google Adwords, and it worked great Because the initial design was flexible, it was easy to add new traffic sources and tag them properly
- 60. MEANINGFUL METRICS Initially rolled out for Google Adwords, and it worked great Because the initial design was flexible, it was easy to add new traffic sources and tag them properly We now have value per lead data for Facebook Ads and Organic Search (Google, Bing, Yahoo)
- 61. MEANINGFUL METRICS Initially rolled out for Google Adwords, and it worked great Because the initial design was flexible, it was easy to add new traffic sources and tag them properly We now have value per lead data for Facebook Ads and Organic Search (Google, Bing, Yahoo) Mindvalley’s traffic team rely on Oathkeeper’s data to help them secure funding for their initiatives (they can use it as a bargaining chip and leverage)
- 64. MEANINGFUL METRICS Caveats: Don’t make something other companies with bigger budgets and focus can do better (e.g. Google Analytics) - it is often cheaper and more effective to use that instead of rolling your own
- 65. MEANINGFUL METRICS Caveats: Don’t make something other companies with bigger budgets and focus can do better (e.g. Google Analytics) - it is often cheaper and more effective to use that instead of rolling your own Only roll your own solution if the existing products available out there do not solve your problems (e.g. privacy, lack of APIs, too large granularity)
- 66. MEANINGFUL METRICS Caveats: Don’t make something other companies with bigger budgets and focus can do better (e.g. Google Analytics) - it is often cheaper and more effective to use that instead of rolling your own Only roll your own solution if the existing products available out there do not solve your problems (e.g. privacy, lack of APIs, too large granularity) Your solution might be so successful the business might start of thinking other ways to leverage your metrics that were outside the scope of how you initially designed it, so make sure you bake in enough flexibility
- 67. MEANINGFUL METRICS Caveats: Don’t make something other companies with bigger budgets and focus can do better (e.g. Google Analytics) - it is often cheaper and more effective to use that instead of rolling your own Only roll your own solution if the existing products available out there do not solve your problems (e.g. privacy, lack of APIs, too large granularity) Your solution might be so successful the business might start of thinking other ways to leverage your metrics that were outside the scope of how you initially designed it, so make sure you bake in enough flexibility Rule of thumb: if you cannot attach a dollar value to a metric, try digging deeper, integrating wider, consolidating more until you do or it becomes ridiculous. Then start thinking whether the effort of collecting the data is worth the insight it will bring.
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