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November 23, 2016

[Video] What are the most important metrics to follow in a startups’ first year? – Bobby’s Minute, ep. 63

ep63

If you have 1 million users, but can only keep 10,000 of them, it means your retention rate sucks. And this is the most important metric to follow.

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Transcript:

What are the most important metrics to follow in the first 6 to 12 months as a new startup? Retention. The most important metric that you need to follow early in your startup is retention. It shows if your product is really good for the market you’re addressing. While user growth is a good metric to follow, it’s really nothing without the retention. Even if you get a million users,if you only keep 10,000 of them, your efforts will be in vain.

Basically, if you have a good user growth, but you have no retention, this means that you’re reall skilled at marketing, but your product sucks. On the other hand, it can also mean that you have a really great product, but you suck at marketing, because you don’t understand what market you’re addressing.

Either way,I think that retention is the most important element that you need to follow in the first 6 to 12 months, because this shows you that people want your product and they want to use it.

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