Issue 8 of Collection: Work Smart
Today's lesson comes from Lisa Enckell, our expert on marketing. In her course Marketing for Early-stage Startups you learn everything from positioning to how to measure brand equity. Below you find her post on what to measure and what to mearsure when it comes to defining if you are growing our not.
The biggest difference between working for digital and physical products is that you have access to tons of interesting data. You gotta love that part of working with startups. But it’s sometimes easy to get distracted by numbers that simply don’t matter.
Avoid getting lost in vanity metrics. Vanity metrics are numbers that don’t impact your business, but may be easy to measure or look good. Some examples: followers on social-media channels or likes/retweets of a certain post, number of upvotes on forums like Product Hunt and Hacker News or number of downloads if you have a free app. Make sure you focus your time on the data that will inform you on how to get valuable users the most efficiently and how users interact with your product.
(Being featured on Product Hunt can help with exposure to the startup ecosystem and a front page article on Hacker News is great if you want to reach developers, but unless those are your target audiences, you’re only feeding your own ego.)
Do you have any questions so far? Feel free to reach out to me on @enckelli on Twitter and we can talk more,
Did you like this lesson? Check out Lisa's course here!