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AARRR Framework
This is also known as the ""AARRR Pirate Metrics Framework. Created by Silicon Valley investor and founder of 500 Startups Dave McClure, this acronym stands for:
- Acquisition - How do customers find out about your product?
- Activation - Are users completing the desired actions in your product?
- Retention - Do activated users continue to return to use your product?
- Referral - Is your product so loved that your users are sharing it with others?
- Revenue - Are customers willing to pay for your product?
Dave developed these metrics to help startups focus on the metrics that directly relate to the health of their business and utilize the right data to determine the success of their product and marketing initiatives.