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Stable8 min read

AARRR Metrics Framework

Connect product metrics to growth levers before you instrument dashboards.

Metrics in this guide

Each card defines one metric — what it measures, how to calculate it, and a typical benchmark.

  • A

    Acquisition

    Execution

    How users or customers discover and arrive at your product.

    Formula
    New visitors/signups/MQLs from channel (pick one primary)
    Typical benchmark
    One primary acquisition metric per channel or motion.
  • A

    Activation

    Validation

    First experience of core value — user “gets it”.

    Formula
    % reaching defined activation event
    Typical benchmark
    Must match your NSM input, not generic signup.
  • R

    Retention

    Validation

    Users or customers return and continue receiving value.

    Formula
    Cohort retention at D7/D30 or logo renewal rate
    Typical benchmark
    Leading indicator for NRR and LTV in subscription businesses.
  • R

    Revenue

    Execution

    Monetisation — conversion to paid, expansion, or transaction value.

    Formula
    Conversion rate, ARPA, or expansion ARR
    Typical benchmark
    Tie to pricing model (seat, usage, project).
  • R

    Referral

    Execution

    Existing users bring new users or amplify growth.

    Formula
    Referral signups ÷ total signups or k-factor
    Typical benchmark
    Viral coefficient k>1 rare in B2B; track referral % trend.

AARRR (Acquisition, Activation, Retention, Revenue, Referral) — pirate metrics — maps the customer lifecycle to one primary metric per stage plus input metrics teams can influence. It is a structuring tool, not a dashboard template:

StageQuestion
AcquisitionHow do people discover you?
ActivationDo they reach first value quickly?
RetentionDo they come back or renew?
RevenueHow do you monetise?
ReferralDo users bring others?

Your north star often sits across activation and retention — define how it relates to AARRR explicitly.

Related techniques

Sources & further reading

  • Ellis, S., & Brown, M. (2017). Hacking Growth. Crown Business.