Post by account_disabled on Jan 4, 2024 10:36:22 GMT 2
Growth hacking is one of the effective marketing methods to develop your business based on customer data. It is a strategy to strengthen the core value of a service or product and maximize business performance through experimentation and improvement. In this article, we will learn about the definition of the AARRR framework and its correlation with CDJ. What is AARRR?5 steps of AARRR The AARRR Pirate Metrics framework is an acronym for the five user behavior metrics that product-driven growth companies should track: Acquisition, Activation, Retention, Revenue, and Referrals. Acquisition – How are people discovering our product or company? Activation – Are people taking the actions we want them to take? Revenue – Are people willing to pay for this product? Retention – Are your active users continuing to engage with your product? Referral – Do users tell others about the product? Who created AARRR and why? AARRR is a framework developed by Dave McClure, a Silicon Valley investor and founder of 500 Startups. Developed it. McClure found that many startups are easily tempted by superficial metrics, such as the number of social media likes
Afterwards, McClure set two goals through AARRR. First, focus only on metrics that can directly impact startups' businesses. Second, ensure that these companies use the right data to measure the success of their product management and marketing efforts. Therefore, we set Special Data goals to improve the elements that were not effective. AARRR analysis The AARRR framework is a way to track five metrics of user behavior to optimize user growth. The first step is to define indicators for each step. The indicators below are examples and may vary depending on the type of product or service.
Step 1: Define AARRR step-by-step indicatorsAcquisition Metrics Search Engine Optimization (SEO) social media marketing campaign Apps and widgets advertisement Activation Metrics Visit additional pages Experiment with add-ons Stay on a site or app for a certain amount of time Sign up for our newsletter Sign up for a free trial Retention Metrics Monitor whether new users remain interested in your product after activation by persuading them to take action Repeated use of the product over a certain period of time revisit website View company email Subscribe to RSS feed Referral Metrics Users introduce the company or product to friends or colleagues Email Referral Promotion Marketing campaigns that allow you to share your products with others Revenue Metrics minimum profit break-even point profit Revenue exceeding customer acquisition costs Step 2: Establish AARRR metric tracking and analysis process After identifying types for data collection for each step of the AARRR framework, tools and methods to collect and analyze this data must be introduced.
Afterwards, McClure set two goals through AARRR. First, focus only on metrics that can directly impact startups' businesses. Second, ensure that these companies use the right data to measure the success of their product management and marketing efforts. Therefore, we set Special Data goals to improve the elements that were not effective. AARRR analysis The AARRR framework is a way to track five metrics of user behavior to optimize user growth. The first step is to define indicators for each step. The indicators below are examples and may vary depending on the type of product or service.
Step 1: Define AARRR step-by-step indicatorsAcquisition Metrics Search Engine Optimization (SEO) social media marketing campaign Apps and widgets advertisement Activation Metrics Visit additional pages Experiment with add-ons Stay on a site or app for a certain amount of time Sign up for our newsletter Sign up for a free trial Retention Metrics Monitor whether new users remain interested in your product after activation by persuading them to take action Repeated use of the product over a certain period of time revisit website View company email Subscribe to RSS feed Referral Metrics Users introduce the company or product to friends or colleagues Email Referral Promotion Marketing campaigns that allow you to share your products with others Revenue Metrics minimum profit break-even point profit Revenue exceeding customer acquisition costs Step 2: Establish AARRR metric tracking and analysis process After identifying types for data collection for each step of the AARRR framework, tools and methods to collect and analyze this data must be introduced.