Just when I started to feel comfortable with understanding what metrics I might use for blogging, this comes along. A model for metrics and applications ... (Aarr!)
However, the model may be applicable to social media strategy and metrics ... based on what was discussed in a recent interview with Dave McClure about a class called "Create Engaging Web Applications Using Metrics and Learning on Facebook” with Professor BJ Fogg starting on Thursday at Stanford University.
The class is about:
How to build engaging web applications and apply user engagement metrics to figure out what makes the right set of features and right set of marketing and promotional channels to use. McClure describes a 5-step model for user engagement:
- Acquisition - where are users coming from?
- Activation
- Retention - email and other things to get them to return
- Referral
- Revenue/Monetization
There is mention of Facebook analytics software, but as McClure notes is it is still early. He also says, "Even outside of Facebook, I think a lot of the concepts that I’m presenting, are ones that people are still experimenting with." He goes onto say:
I do think it’s really important for startups to have a simple set of metrics that they watch and actually do a lot of A-B testing around those metrics when they are building features and trying to measure deeper down the conversion funnel before marketing channels. Understand what’s working and what’s not working at bringing visitors to the site or getting users to install the app and use it on a regular basis.
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