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A batch of the best highlights from what Felicity's read, .
A good metric is comparative. Being able to compare a metric to other time periods, groups of users, or competitors helps you understand which way things are moving. “Increased conversion from last week” is more meaningful than “2% conversion.”
Lean Analytics
Alistair Croll, Benjamin Yoskovitz
The annual repurchase rate is an early indicator of how an e-commerce startup will succeed in the long term. Even before a year has elapsed, an e-commerce company can look at 90-day repurchase rates and get a sense of which model it’s in. A 90-day repurchase rate of 1% to 15% means you’re in acquisition mode. A 90-day repurchase rate of 15% to 30% means you’re in hybrid mode. A 90-day repurchase rate of over 30% means you’re in loyalty mode.
Lean Analytics
Alistair Croll, Benjamin Yoskovitz
Anytime you’re building a new system, regardless of how technically complex it might be, testing the value of the idea is the best place to start. If no one wants it, it doesn’t matter how hard or easy it is to build it.
How I Break Down Hypotheses to Make Them Easier to Test
Jeff Gothelf
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