AN INNOVATIVE AND DYNAMIC APPROACH TO VENTURE CAPITAL AND INCUBATION

uTeam & EiR Continuing Education: Understanding the Web Site Feedback

Loop

The Feedback Loop

Building an MVP is just Step 1!

The key thing is measuring the feedback,Learning from that feedback,And adjust accordingly.

It is About The 5 Dubyahs

• What are our goals?• Why are we doing this?• Who is giving the feedback?• Where are the users most interested?• When do we have enough data to make a decision?

Dubyah 1: What are our goals?

•Before you launch any initiative, have measurable goals.•Also include 1 or 2 not measurable goals•Understand that goals are just guesses and having

knowledgeable before hand allows smart goal making

Dubyah 2: Why are we doing this?

• The “why” should be obvious to anyone involved•Are there hidden agendas?• Is anything we are doing distracting us from

accomplishing the goals?

Dubyah 3: Who is giving the feedback?• Are the users/testers the real feedback you want?• Know as much about the users as we you can• The mysterious case of Spivey Lee

• If all of the users/testers are the wrong people, get more users/testers• If you can’t get the users/testers you want, you may have all

of the feedback you need

Dubyah 4: Where are the users/testers most interested? •What do the specifically spend time on?•What bugs really bother them?•What part will they want to spend money on?•Check out the intensity of use not just time

Dubyah 5: When do you have enough data?•Over data collection is the biggest mistake•When you can draw reasonable conclusions•Consumer: 100 to 500 users/testers•Business: 5 to 20 companies

•Users/Testers not giving feedback is also feedback

Tools of the Web Site Feedback Loop

•Google Analytics – Gets you general impressions and flows•Crazy Egg – What are people looking at and clicking

on• Survey Monkey – Asking for feedback and thoughts in

a way that can be aggregated•Human-to-Human Contact – The most important tool

Google Analytics

Crazy Egg

Survey Monkey

Human-to-Human

Closing Thoughts

• Hard to have human-to-human contact without building a mailing list• Try and compile for results into a simple WORD doc or PPT. No more

than 5 pages• Ask smart people what they make of the results• Make sure you validate the business model when you get feedback• Never stop collecting data and analyzing

If you are interested or know some interested in the class, email wvacademy@wasabiventures.com