We live in times where it’s getting easier and easier to develop your own solutions. So much of the traditional tools on the Internet were built in a different era – where SEO, content marketing, social media, ajax, etc. didn’t even exist. But we still keep using the tools, letting visits, pageviews, bounces and exits cloud our judgment not knowing whether or not they actually impact the bottom line. Metrics that matter the most aren’t even available and require additional development and integration.
Pirate Metrics helps you perform quantitative and comparative analysis of your business by tracking 5 key metrics (AARRR):
- Acquisition – You acquire the user. For a SaaS product, this usually means a sign up.
- Activation – The user uses your product, indicating a good first visit.
- Retention – The user continues to use your product, indicating they like your product.
- Referral – The user likes your product so much he refers other new users.
- Revenue – The user pays you.
Pirate Metrics is loosely based on the Startup Metrics for Pirates talk by Dave McClure, but the developers didn’t just want to make an analytical tool that would track when interesting things happened. They designed Pirate Metrics to help solve another problem, which is marketing a web application.
Pirate Metrics collects the 5 key metrics into a cohort week, and then compare that week against a rolling average. By making note of marketing activities performed during a week (running an ad campaign, A/B testing your pricing structure, etc) you can easily tell which activities improve your AARRR rates.
Pirate Metrics also generates a marketing report which is continuously updated. In the marketing report, they look for patterns in your users’ behavior, and then offer advice on ways to improve your AARRR numbers.
The marketing report digs a bit deeper into your AARRR statistics, and offers advice for ways to improve these numbers. For example, Pirate Metrics identifies users who haven’t performed your key activity since they last paid for your service, so you can contact them to find out if they’re having trouble before they cancel with no warning. The platform also identifies whether users who activate more slowly or more quickly than the rolling average are worth more money, so you can make an informed decision on which group to focus your marketing efforts on.
There really aren’t any products designed specifically to track SaaS events, analyze that data, and then offer solutions that will help that business make more money. Pirate Metrics offers a 1 month trial that begins when a new user starts sending us data, and tiered pricing structure that begins at $29.00 per month.
Predictive vs. Anticipatory: Understanding the Best Analytic Approach to Address Your Business Goals
As technology has evolved, so has our ability to process data at an incredible rate, making it possible to perform what has become known as Anticipatory Analytics. While still a relatively new concept, anticipatory analytics is gaining prevalence as a methodology.