Business

Understand Your Cohort Analysis Report

Cohort analysis reportI know, it sounds scary. But the true is that it’s not complicated, and once you get the logic behind this report, you can gain lots of useful information out of it. It can help you to gain insights and actionable items so let’s see how and when to use it. First, let’s define it.

What?

Cohort analysis is a subset of behavioral analytics that takes the data from a given platform (e.g. eCommerce site, web app, game etc’) and rather than looking at all users as one unit, it breaks them into related groups for analysis. These related groups (=cohorts), usually share common characteristics or experiences within a defined time-span.

See it in action

In the charts below you can see a popular cohort analysis: It groups customers based on the date when they made their first purchase. Studying the spending trends of cohorts from different periods in time can indicate if the quality of the average customer being acquired is increasing or decreasing in over time. You can also see if your marketing efforts at the time made a difference. In the case below, we can see during 2013 (the circles) it was a slow start, but after a new campaign, that took the first two weeks of March, things got better. As for 2014 (the triangles), we had a good start, but between March and May there was no growth, later during May major improvements in the product boost the spending to a new record. Continue reading

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Chrome

Web Forms Checklist

web forms checklist

In our Udacity course “Building High Conversion Web Forms” we talk a lot on how to think on the friction that forms create and what to do in order to smooth it. One of the outcomes from our source was this checklist that you can use in order to make sure you are on the right path. In this post, I will cover the first 2 topics: form design and inputs types. In the future, I’ll cover validation and touch.

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Business, Chrome

Make Money On The Web (CodeMotion 2015)

Optimize for Autofill

Today I had the pleasure to present at  codemotion TLV. It was a great opportunity to meet so many good friends that are pushing the web forward.

TL;DR

  • Mobile browser traffic is 2X bigger than app traffic and growing faster. So you better pay extra attention to your mobile website and make sure the friction on your forms is as low as possible.
  • On mobile, entertaining apps dominate time but websites capture the bulk of the transactions (=money!)
  • Optimize for Autofill! make sure you are using all the right autocomplete types in your form’s field. From Chrome usage data we learned that you will get 30% increase in form fill speed. It’s quite an amazing stats, no?

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Chrome

High Conversion Web Forms

Cam and Ido - web forms course lead image

Last week, my new course “Building High Conversion Web Forms” was launch on Udacity. I had the pleasure to work with Cameron Pittman on this course and I hope you are going to like the outcome.

Let’s take one (I promise not two) step back, and think about forms. If you think on any meaningful experience on the web today, you will find out that it comes with a form. It might be a shopping cart, registration form, survey or even every login form. If it’s valuable, most probably it got a box that wish someone will fill it with information. Whether it’s a form made of text boxes, toggles, buttons, checkboxes, or touchable widgets, web developers need to be purposeful about forms to make users happy and increase conversions.

In our course, you’ll learn best practices for modern forms. It’s not just ‘watching’ videos. You’ll practice your skills along the way with a few self-directed projects, including an e-commerce checkout and an event planner app! As a special bonus, you’ll also watch a series of interviews with Luke Wroblewski, Google Product Director.

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Chrome

Use House Ads To Improve Your Revenue

Ads at work on the beach

As developers and entrepreneurs, we have mountains of data.
Data that could change your business and move it forward. However, there is s
o much data that it’s overwhelming in some cases. Life force you, in some cases, to ignore it. But that’s the wrong path to follow! You wish data that is actionable and moving your revenue forward.

The freemium model was one of the reasons to a huge disruption in the data world. We see it clearly in the gaming market. For game developers, the need to understand users through data is particularly acute. In the past 2 years, we learn that everyone is a gamer: there were 1.78B gamers worldwide as of August [Source] and the number keep moving up. Since we are talking here on free installation, we do need to make money after the users installed our game. It will be good 

Now, because users act differently the foundation of any monetization strategy should be your analytics.
There will be segments in your userbase that will:

  • Pay for In-App Purchases
  • Click on ads
  • Engage with certain types of ads (e.g. full-screen video)

A custom monetization strategy for each user means you are maximizing your revenue. There are few (new) tools in AdMob to help you to do this. It’s call ‘audience aware’ because it will tailored the right solution to the right user at the right time. Continue reading

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Business

Monetization Questions For Entrepreneurs #StartupTips

startup office

“The art and science of asking questions is the source of all knowledge” – Thomas Berger

One of the critical times for startup is when it needs to define what will be the path to profitability. It’s a real challenge, and one of the ways to come up with the right plan is to ask the right questions.

A set of questions that could lead you in the right path:

  1. How do you define the relationship between ‘growth’ and monetization for your startup?
    Do we need to focus on one first?
    What is the mark to blend the two?
    Can we do both?
  2. What do you think about ‘starting a business’ and not ‘starting a startup’?
    The main point here is to get out of the ‘la-la land’ of startups that don’t need ‘revenue’ and look at the world of building a profitable business from the get-go.
  3. What other bold/good/recent startup(s) are executing a good monetization plan?
    Can we do something similar? Which parts of their plan we wish to test first?
  4. Are there several platforms that we can leverage in our monetization paths?
    In other words, if we are a startup that is building an application for iOS/Android.
    Can we also create an amazing web experience and enjoy it as another platform for engagement?
  5. How your purchasing process (or billing) is working today?
    What pitfalls other should learn from it?
    How you optimize it?
  6. Where are the gaps (or opportunities) in the current state of your online commerce?
  7. What are the top 3 action items that you can take in order to monetize your work better at this stage?
    This might be a great question to ask every 1-3 months.
    Moreover, you might want to keep A/B testing your actions.
  8. Any interesting trends you see in the market around your startup?
    What are the leaders doing?
    What other direct competitors are doing?
    What are indirect competitors are doing?
  9. Can we improve the usage of our analytics in order to gain more insights for our KPIs?

For more thoughts on the subject (with some tips from experience) – Join 4100+ students and check out my course on Udacity “App Monetization“.

Good luck!

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Android, Business

Android In App Payments

top android appsAs we know, user like free applications. However, we need to make a living out of our application, right?
One of the most popular method these days is In-App Payments. You can see this in many examples: Clash of clans, Netflix, Spotify and many more.
In this post, we’ll see how to perform common In-appPayments operations from Android applications.

What is this service?

In-app billing is a service hosted on Google Play that lets you charge for digital content or for upgrades in your app. You can request product details from Google Play, issue orders for in-app products, and retrieve ownership information based on users’ purchase history. Google Play provides a checkout interface that makes user interactions with the In-app Billing service seamless and provides a more intuitive experience to your users. Continue reading

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