Metrics & KPIs

Question 1

What’s the difference between KPIs and Metrics?

Answer 1

Potato tomato

Question 2

What are the 5 typical categories of metrics?

Answer 2

Growth and activation
Engagement
Retention
User happiness
Revenue

Question 3

What is resurrection rate?

Answer 3

Proportion of users you lost whom you were able to get back into the app (push notification or email fex).

Question 4

What is are the two most important thing regarding metrics?

Answer 4

That you keep the defintions consistent so that you can see change over time. 2: That metrics are simple to understand - no crazy. 3 (bonus): Usually use ratios or rates.

Question 5

Which type of metrics is usually the most tailored for company / industry?

Answer 5

Engagement metrics

Question 6

What is an example of difference in engagement metrics between companies?

Answer 6

Facebook vs youtube: Video view: Youtube 30 sec, facebook 3 sec.

Question 7

What are customer satifsfaction metric examples?

Answer 7

NPS and app score rating.

Question 8

Provide examples of companies or domains where customer satisfaction metrics are more important than others.

Answer 8

Internet provider f.ex. because they cannot use engagement metrics to measure this.

Question 9

What is customer LTV?

Answer 9

Customer life time value.

Question 10

What is CAC?

Answer 10

Cost of Acquisition of Customer. aka CCA

Question 11

What is MRA

Answer 11

Monthly recurring revenue (total for all customers).

Question 12

What are 3 important growth and acquisition metrics?

Answer 12

Tota new users
New users by source (was it due to SOE? Appstore? Ads? Shared links?)
Total activated users (downloaded and performed a particular action f.ex. make a tweet).

Question 13

What is the difference between exploratory metrics and reporting metrics?

Answer 13

Exploratory are for internal use to understand user behaviour. Not so important to track over time. Datapoint we use when we search for clues on how to improve the product.

Question 14

What is the origin of the HEART metrics framework?

Answer 14

Youtube / Google Ventures

Question 15

What is the HEART acronym for?

Answer 15

Happiness (app rating or NPS), Engagement (depends on product - maybe orders per customer), Adoption (downloads and a certain action), Retention , Task Success (time to complete + number of successes).

Question 16

For each category in the HEART metrics, which 3 things should you define?

Answer 16

Goals (a sentence or two describing the goals)
Signals (the data to assess in laymans terms)
Metrics (the name and definition of the metrics that were pointed out in “signals”).

Question 17

Is the HEART framework intended for exploratory or reporting metrics?

Answer 17

Reporting metrics. This is what would be on a dashboards.

Question 18

What’s the AARRR abbrevation?

Answer 18

Aqcuisition, activation, retention, referral, revenue

Question 19

What are some metrics tools?

Answer 19

Google Analytics
Crazy Egg - Click data for websites (heatmap)
Kiss metrics (very good not cheap)
Mix Panel (very good for web and mobile - not cheap)
Optimizely (good for A / B testing)
Segment (metrics hub which can connect other metrics tools together)

Question 20

HEART is out of order. What should be the order?

Answer 20

Adoption, Task success, Engagement, Retention, Happiness.

Question 21

What is assumed in AARRR framework (hint: one common metric is missing).

Answer 21

It’s assumed that if your users or customers are coming back that they are engaged.
Engagement is missing. Assumed engagement and retention is strongly linked and that engagement is sought maximized anyway.