Startup Metrics: Anecdotes vs. Analytics | WePay

Startup Metrics: Anecdotes vs. Analytics

By Rich Aberman

Consumer web companies (especially startups) should measure as much as they can; otherwise, they’re just prodding around in the dark.

The counter argument is that measuring everything discourages innovation and limits the usefulness of the data.

I think in one sense or another both arguments are correct.  On the one hand: “In God we trust, all others bring data.” And on the other: “paralysis by analysis.”

However, the optimal strategy is not simply a happy medium between accumulating and analyzing too much and too little data, but rather a balance between measuring and interpreting two different kinds of information: anecdotal vs. analytical.

This weighs Anecdotal evidence with Analytical evidence and makes the case for balancing both. What, you thought it would be easy?

» Customer Development Interviews How-to: Finding People | The Experience is the Product

Customer Development Interviews How-to: Finding People

“OK,” you say, “I’m convinced – I need to talk with potential customers to make sure my startup/product/service idea has potential.  But how do I find those people?”

Finding People

AdWords / Facebook Ads / Tweets.

Summarize your idea, invest some money in getting it in front of people who have expressed intent by searching for that term, clicking your ad, clicking a link.  (Read the original SEM on $5/day post for details.)

I haven’t used Twitter for this much yet, but my theory is that it may be a more effective way of reaching people (I am much more likely to click on links that appear in my hashtag saved searches than I am to click on an AdWords or Facebook ad.)

For those people that need to find customers (who doesn’t), here is a post from Cindy Alvarez that helps to outline some options and even gives you starting formats for forms and emails.

An Illustrated Guide to the Science of Influence & Persuasion | Online Marketing News

Media_httpwwwseomozor_cmafp

Unless you have already read Influence, go and read this now. It takes 10 minutes and it will help you understand several basic strategies that will help your marketing and sales.