Measure the effect of a pivot

Measuring effect of a pivot

• The crux of pivoting is having metrics on which to base the decision
• Identify the key ‘milestones’ or ‘stages’ in users’ interaction with the product
• Example:
  • Registration (sign up)
  • Activation (log into account, verify user is registered voter, etc.)
  • Particpation (add content, write a review, etc.)
  • Retention (log in a second, third, etc. time)
  • Referral (invite friend, recruit your network, etc

Stages

• These are not arbitrary!! they figure directly into your eventual business model
• depending on your goals and your stage they will be different
  • How many people responded to your email
  • answered your survey
  • answered a question
  • asked a question
  • etc.
• This becomes a classic “funnel” (sales, marketing etc.)

• Discussion: why do you think we call it a funnel?

• Metrics… Metrics… Metrics
  • You also need a way to measure how many people make it to each step
  • Without metrics your pivots are a shot in the dark
• Once you have a baseline
  • Do the pivot
  • Quickly determine if you improved where you expected to improved