I’m back with Kaushik from Locket again,
and this time we’re going to be discussing
the challenges of measuring things. So Kaushik, when you were
measuring different metrics, what sort of barriers or
obstacles did you encounter?>>Oh, well, user retention rate was one of the most
difficult things to measure for us. Especially because a lot of users
actually installed our application, never used it, but because it
was there on the lock screen we miscalculated them as
always using users. Or we calibrated their retention
rates to be very positive and very supportive, but in reality they
totally forgot about our application. They did not even know that our
application existed over there, because it was very native and
that’s how it was. So that was very difficult for
us to measure. We had already a unique way of
measuring the user retention rate. We’d considered the user engagement
as well as we considered, we had a few set of metrics,
which they had to hit every single day in order to make sure that they
are using the app consistently. So that was one challenging part.>>Wow. And what do you think will
be most important for the company moving forward,
in terms of metrics and measurement?>>Well, first, drop off between day 7 to day 14 is
one of the most important metric. And then number of invites
each user is sending, and the number of people who
are positively responding for those invites as well as number,
their respective retention rates and then how the total,
the chain reaction is working. For example, if we buy users
off someone from Facebook or if we buy users from different
sources’ headquarters. So we want to measure this complete
chain as to how much vital coefficient it is adding and stuff like that. So that’s one of the most
important things.>>So tell me a little bit about how
you guys go about measuring things and how did the product
inform what you measured? And the metrics that you chose, that you thought were important
to track as a company.>>Right, so we mainly measured
metrics around two broad areas. One is user retention rate and
user engagement rate. So user retention rate means day
1 retention, day 7 retention and day 14 retention. And as we are on lock screen we
are all the time on the screen, and it is really difficult to find whether
he is using it or no, and he just forgot about the application after installing,
because it is right on the lock screen. So user engagement is also
very important metric, where we measure how many
times he is liking animation. How many times he is sending
animation to his friends, or is he receiving images? All these things, so
in the beginning we actually thought day one retention rate
was very important for this. But over a period of time, we realized
that it’s not day 1 retention rate, it’s a drop off from day 7 to day 14,
which is highly important. Because day one retention rate
actually was the retention rate provided by users who might not
have had friends in Screenpop. But day 7 and
day 14 retention rates were mostly around who already had
friends in Screenpop, so they were the people who
actually sent a lot of invites. They were the people who sent a lot
of messages, as well as images, to their friends. So, measuring those were
highly critical for us.>>Oh, wow.