Metrics and Analytics Are The Key During Depression

How prepared is your young business for weathering an economic downturn? Metrics offer high value for startups to effectively measure their own progress and improve their profits. Market Research and Analysis can better position a young company in their market to weather any storm through implementing their unique Business DNA, their genetic theme cluster code.

“Measurements of site activity and usage that’s more in depth than just uniques and page views can be a proxy for revenues and can illustrate that you’re gaining traction and getting closer to revenue,” explains McClure, who organized Startonomics, a recent one-day workshop in San Francisco that attracted 300 entrepreneurs and investors.

“Metrics are always important, but if you think credit is any tighter now than it was two weeks ago — and it probably is — then metrics are one way of showing to your investors that you have made some progress,” says Dave McClure , the former PayPal Inc. executive turned angel investor.

Measuring and analyzing traffic to Web sites is especially important for startups that lack revenue or are just beginning to get revenue.

“Uniques and page views, which you can get from Google Analytics, are helpful,” says McClure, “but they don’t tell you much about the incremental effects of engagement. There’s a big difference between someone coming to your site, checking it out and never coming back, and someone who comes back three times a month, tells a bunch of people about it and eventually buys something.”
For more prescriptions on “startup depression” see Sept. 30 post from Tech Confidential
See Dave McClure’s blog

Erika
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