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Service growth The one metric you should focus on to grow your service is what we call the 'North Star Metric'. Because goal setting is an important factor in determining the direction of data analysis, we devote significant resources to establishing key goals such as North Star indicators. However, did you know that if you misunderstand the meaning of the North Star indicator, the indicator can actually hinder your business? Misconceptions about the North Star indicatorThe North Star indicator is the output indicator When choosing a goal to focus on, we must distinguish whether this goal is an input metric or an output metric. Input metrics reflect user behavior, and output metrics reflect results. Growth Hacking North Star Indicator Input and Output Indicators Of course, extreme outcome indicators such as ‘sales’ cannot be the North Star indicator. This is because the North Star indicator is both a result indicator and a leading indicator of service growth, so it must penetrate the nature and direction of the service.
Definitions of a successful North Star indicator vary, but in general, it should meet the Canada Phone Number Data following conditions: It must express the value of the product well. This should be a key leading indicator of service growth. It must be able to invoke an actual actionable action. It must be measurable. Everyone should be able to understand. North Star Indicator ExampleBreaking down and analyzing input metrics – the case of Spotify Spotify’s Growth Hacking Arctic Index Case Let’s take a look at Spotify, a representative example of a North Star indicator. The indicator that Spotify considers most meaningful is the time users spend listening to music. This means that Spotify's North Star indicator is 'music listening time'. So what variables affect music listening time? Either more people will need to listen to music, or the amount of time a person spends listening to music will need to increase. Then, the primary input indicators for us to derive outcome indicators are ‘users’ return visits’ and ‘increase in time spent per session’. And we can break this input metric down even further.
In order to increase users' return visits, there may be ways to update new features or send notifications to users, and to increase the time spent per session, consider creating more devices within the service that users can enjoy. can. In addition to the indicators we have looked at now, what variables we should look into to improve the North Star indicator may vary depending on perspective. Through the process of looking at indicators from various perspectives, deriving various input indicators, defining and structuring them, we can formulate hypotheses about what results will appear when certain variables are adjusted. And this is the experiment that growth hacking refers to. Making sure your metrics aren’t conflicting – the Facebook example Facebook’s Growth Hacking North Star Indicator Case Study This time it is the case of Facebook. Facebook's North Star indicator is quite famous. This is the number of users who make friends with 7 people within 10 days . This indicator is known to be a standard that shows significant differences when analyzing data from actual active users. An easy mistake to make when selecting a North Star indicator is to think that an extreme outcome indicator such as 'sales' is the North Star indicator.
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发表于 2024-3-4 18:07:01