by Roxanne Gibert, Product Manager of User Acquisition, DeNA
· The key LTV drivers are monetization, retention, engagement, virality, and re-engagement. Set your metric targets against industry benchmarks and internal KPIs.
· The KPIs are user acquisition (LTV by source, funnels), monetization (virtual goods, exchange rates, conversion points), engagement (user flow, progression), and retention (level gates, event completion).
· Look at level progression of users who installed in the last 24 hours and look at DAU separated by levels.
· A/B test with virtual goods (price points, conversion points), leveling curve (payouts, level gates), and exchange rates (hard currency to soft). Be careful of metric cannibalization (new features, promotions, events) and always have a hypothesis (expected results, targeted users, change to LTVs).
· Have cohorts of reasonable sizes (10 to 20 thousand people). If you have a smaller audience, have cohorts of at least 1000 people.