Metrics are a very important part of the Lean Launchpad process. By keeping track of interactions with customers in a variety of ways you are building a convincing story about the viability of your business model; a story that will be invaluable when you start selling, acquiring users or raising money.
Some of the things you’ll need to be measuring can be tracked with a simple spreadsheet:
- Customer conversations
- Development milestones for your Minimum Viable Product (MVP)
- Customer roles and relationships
Interactions that take place online, via the Internet or mobile, are a different story. Google Analytics is free software activated by placing a line of code into your site or app. That line of code gathers a wide range of information about those interacting with your site or product including:
- Where, when and how (what device or browser was used)
- Length of interaction and where you ‘lost’ them
- Hotspots on your pages
- Behaviors within apps and sites
- Their ‘path’ through the experience you are providing
…and much, much more. So much, in fact, that even experienced users of Analytics often miss important stats and metrics or don’t understand how to use them to do testing. Fortunately Google offers a service called Analytics Academy that provides both structured and self-guided courses for both beginners and experienced users. Find out more here.
This really isn’t optional, though many startups don’t take full advantage of it. The reason I say that, is it gives your startup an incredible advantage as you gain sophistication with these powerful tools.