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Start of the month is when founders look at their numbers. Let me show you some that we look at for @stagetimerio. First, new users and conversion rates. But we also compare Organic (SEO) vs. Paid (Google Ads) to see what works better. Read on if you like behind-the-scenes ...Permalink On twitter.com
❤️ 18 Favorites Mood +4 🙂
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Getting reliable numbers for Organic/Paid is hard. We see that paid has the highest conversion rate. Kudos to @lizmhermann for optimizing keywords. Note: These are ridiculous conversion rates. That's because our product can be used without signup!On twitter.com
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Next we dig into the paid channel. We attribute purchases to ad campaigns (as best we can). - Are our ads paying off? - How long does it take from ad-click to conversion? - Are we getting new or repeat customers? This month we earned less than we paid 😕Permalink On twitter.com
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Liz feeds these numbers into a Google Sheet each month. This gives us a good indicator for the growth we can expect in the future. But even more importantly, it clearly shows the seasonality. We have clear April + July + December drops.Permalink On twitter.com
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With this we can make good predictions on our revenue. The red line is tracking the blue prediction very well! Notice the April/July/Dec dips 😅 Fortunately, this April was better than expected.Permalink On twitter.com
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Sure, our numbers don't look as spectacular as those shiny new AI products. But they do follow a predictable pattern. This helps us to plan and commit resources when and where needed. Understanding the market > being in a hype marketPermalink On twitter.com
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A note on tools: We use @airtable. We keep all our users there and bring this data to light with their "Interfaces" feature. Then we feed the numbers into Google Docs to keep track over time. We hardly use Google Analytics any more.Permalink On twitter.com