Pirate metrics

Pirate Metrics is a practical framework that slices the customer journey into five clear checkpoints: acquisition, activation, retention, referral and revenue. By measuring each stage separately you can see exactly where prospects leak out, then design focused experiments to plug the gaps.

The five stages

1. Acquisition: bring the right people to your site or product.
2. Activation: give them a first “aha” moment so they feel value quickly.
3. Retention: keep them coming back or actively using the product.
4. Referral: turn happy users into advocates who invite others.
5. Revenue: convert engagement into euros through payments or upsells.

SaaS free trial

1. Acquisition: a LinkedIn ad drives 1000 trial sign-ups.
2. Activation: 400 add a first project within 10 minutes.
3. Retention: 250 log in again within seven days.
4. Referral: 50 invite colleagues via the in-app link.
5. Revenue: 40 upgrade to a €49 monthly plan.

E-commerce shop

1. Acquisition: 8000 visitors arrive from Google Shopping.
2. Activation: 600 add an item to the basket.
3. Retention: 240 return within 30 days.
4. Referral: 30 share a discount code with friends.
5. Revenue: 120 complete a €75 average order.

Mobile fitness app

1. Acquisition: 500 installs from the App Store listing.
2. Activation: 300 finish the onboarding workout.
3. Retention: 180 complete three sessions in week one.
4. Referral: 20 post a progress badge on social media.
5. Revenue: 25 subscribe to the €9.99 premium plan.

By logging these numbers weekly you spot bottlenecks fast: perhaps activation lags in the SaaS trial, or retention dips in the fitness app. Fix one stage at a time, stack 10% lifts and results compound across the funnel.