What is a Pirate Metrics dashboard?
The Pirate Metrics framework is a simple way to focus attention on the areas of your business that are key to growth. The name “Pirate Metrics” comes from the acronym “AARRR”, which covers each of these core areas: Acquisition, Activation, Retention, Referral and Revenue.
Pirate Metrics (AARRR)
Here we see how Pirate Metrics can be tracked using a single dashboard. There are of course many ways one could to track the different areas or AARRR, and some companies will even use multiple metrics to track each area.
In this example, the acquisition section focuses on the number of signups, signup rate, signups via digital channel, and the total number of web sessions. In the center of the dashboard, the team is tracking activation via a funnel, (i.e. how many people who signed up went on to use the product and subscribe?) Below this, retention rate is measuring the number of trialists who are using the product two weeks after the free trial begins.
On the right hand side, they are measuring referral via a Net Promoter Score (NPS); this is a survey-based metric that measures how likely your customers are to refer your business to a colleague or a friend. Finally, revenue is measured, monthly, in the bottom right hand corner.