What is Pirate Metrics?
Pirate Metrics is a web application that measures the most important metrics for successful subscription-based products: Acquisitions, Activations, Retentions, Referrals and Revenue. We track your product’s activity, group similar users together, and then compare these groups against each other.
Sounds pretty good, right? Pirate Metrics also provides guidance on how to improve these metrics, and make more money.
By tracking how each user group fares in terms of these metrics, our application makes it obvious which activities result in the most valuable customers, and generate more revenue.
Acquisitions can be defined differently, depending on your service. An acquisition might be a new user signup, or a user logging into your site.
Activations occur when an acquisition performs your product’s key activity. If you have a photo sharing site, an activation could be defined as an acquired user posting a photo for the first time.
Retentions are activated users who continue to perform key activities past the week in which they were acquired.
Referrals measure how many new acquisitions are referred to your site by an activated user.
Revenue shows how much money each user group has generated.
Our annotations feature is a convenient way of tracking your marketing efforts. Annotations can be instantaneous (sending an email flyer, for example) or span multiple weeks (an advertising campaign).
Did you run an ad on Reddit? Maybe you’ve been Tweeting more than usual lately. Which of these activities drove more revenue? Pirate Metrics helps you maximize the return on your marketing efforts.
Our next post will focus on another key feature of Pirate Metrics: our marketing report summary. This report dives into more interesting information about your product’s activity: how quickly your activated users performed your key activity, what kinds of users are worth more money, and specific actions you can take to increase your profits. Stay tuned!