4.How would you measure success for LinkedIn events?
To answer this question, I will first summarize the product and its use case. Thereafter, I will lay down the goals of the Company (LinkedIN) and the users with this product followed by going over user flows and determining what metrics we should use to measure success. We will go over a handful of metrics as a part of brainstorming but will only choose 2 or 3 to track overall success.
Product Overview
LinkedIn Events is a product will allows users to create online or offline events on LinkedIn and use their professional graph to invite others to the events. The events are either offline where LinkedIn is just a planning and organizing tool or online. For online events users can use a 3rd party site or do them via LinkedIn Live (where LinkedIN becomes the medium). For the purposes of this exercise I am only going to ignore LinkedIn Live and focus on using LinkedIn Events as a product to create, manage and plan events.
Goals
For this product offering we are going to be working driving adoption (Acquisition) and usage (engagement) as I am guessing it isn’t used as widely and actively used by LinkedIn users so we need to focus on converting users as well as increasing engamement with the feature.
(1)Business Goals
· Increase the value of LinkedIn to users
· Grow LinkedIn service case beyond job search / recruiting / sales
· Increase engagement with LinkedIn service via events
(2)User Goals
· Create, manage, plan, host and promote events
· Build stronger professional connections / community
· Grow personal brand or organization brand (for company events)
Actions
Lets look at the actions a users would take in using the events feature
User Flow
· Create and host events
· Invite and manage attendee list (private vs public events)
· Promote events
· Grow events participation to 2nd degree connections
· Manage event related communication
· Answer questions around the event
· Create event related discussions on the events page
Metrics
(1)Acquisition Metrics
· Monthly Active Event users / Monthly Active LI users.
· # of events setup per month by type (public vs private)
(2)Engagement Metrics
· Time spent on LinkedIn Events features each session
· Time spent on events as a % of time spent on LinkedIn
· Invite open or acceptance %
· % of invited users not engaging with events
· Visits to LinkedIn driven by Event related notifications (posts, invites, comments)
· Second / third degree connections invited to events
(3)Counter Metrics
I would choose counter metrics to ensure that other parts of our product aren’t impacted by events. The counter metrics that I would track are
1. Time spent on LI app (non event features) --> Does this drop / deteriorate
2. Unsubscribes from LinkedIN’s notifications (email / inapp) --> do Event invites spam users and they turn off notifications impacting other products
Summary
The two metrics I would use to assess the success of LinkedIn Events would be
1. Event MAUs / LinkedIn MAUs —> Shows what % are using events and what our potential for growth is, gives us a target to aim at
2. Time spent on Events as a % of total time spent on LinkedIn —> Shows how time in LI is increasing
1. Parents of a newly born child (Not necessarily first time parents)
2. They are well verse with the usage of a mobile application
3. They are looking for some help in parenting till the time the kid becomes 2-3 years
4. Living in gated communities with not too much social circle and don’t get a chance to learn from the experiences of their friends and families.
What is the overall aim of the product - To provide day to day assistance for the parents to raise their kids till the time their baby turns 2 year old
Pain Points / Use Cases:
1. Difficult to get everyday supplies for the baby like diapers / child food etc.
2. They are not sure how to handle babies - lifting, sleeping, feeding , bathing etc
3. They have a lot of hypotheses & questions in their mind, they are looking opinions of others on the same and looking to validate their claims.
4. They want to manage the vaccination schedules for their child, find a doctor nearby
5. They want to enjoy their parenthood and are looking for innovative ideas to bond with their babies and create wonderful memories
6. Looking for good kindergarten schools nearby.
The Chosen Use Cases:
1. For ordering supplies - there are other alternative channels available such as Amazon, Walmart , hence this use case can be dropped
2. The content to help new parents is readily available, but is scattered across the internet - Creating a curated content platform will be very useful for the parents
3. A good community platform will help them get a lot of ideas and learn from the experiences of people - Creating a forums where people can go ask questions, read other people experiences will be really helpful
4. Every parent must be willing to ensure that their children are healthy. Not only creating content (for point 2 will be helpful) but also helping them to manage vaccination schedules will be helpful
5. Parents will find it really useful if they can create some kind of posters of photobooks, which will help them restoring memories of their children
6. Finding a kindergarten will be a good addition but it is mostly a one time decision and parents will not need it on a day to day basis and will not be a frequent use case.
Hence for the MVP of the product - I will choose feature set 2,3,4,5
Metrics Measurement : In order to measure the effectiveness of the product, I would like to use following set of metrics --
1. Adoption -- If the product is successful, more and more parents will use the same hence we can track DAUs & MAUs
2. Stickiness -- The ratio of DAU / WAU will help us measure if parents keep on coming back to the platform again & again
3. Community Members -- No. of new discussions / Comments.
Clarifications - What should be improved is it the app UI, UX, features or overall - Is it for everyone or just a particular segment of people
About headspace - Its a meditation guiding app that helps people from 10+ to seniors to meditate daily with their own time - The benefit headspace has different packs minis - heavy which has time from 5min - 30 mins max - Since meditation is an everyday activity it primes & retains users by making them set goals and doing it everyday which is completely aligned with product goals of keeping everyone happy & healthy. - UI/UX is simple and undistracted during the session or even while navigating the app, therefore the theme of the app presents its core preposition - Since the product offers a 14 day trail period its helps users to get engaged for free and then go for premium subscription converting free users to revenue generating users thus aligning with the business goal of the product along with product vision as well.
User-segment - Right now headspace focus on anyone 10+ to 70+ which is huge segment of users out of which people who might have more stress, anxiety are professionals at any field age group of 20+ to 45 this is group I would like to focus - People who haven’t meditated at all
Pain points - Consistency for users to practice - Awareness of meditation & its benefits
Solution & Prioritisation - Headspace offers different mediation session for different areas like for focussing, stress, anxiety etc… however it can offer customised meditation session for different professionals so that for the same professional be it sportsman, business, artist etc.. using headspace might not use the same default meditation session that everyone uses as these people need something more powerful as they make a huge impact for the world. - By observing their daily routine headspace can recommend different sessions varying from small 5 mins to 1 hr session guided with visualisation as well this could impact their performance deeply. - Since these are elite people headspace can also have premium rates for them which will increase the CLV > CAC as the product is customised to each individual which also aligns with business & product goals as well.
Tradeoffs - Designing meditation around a specific individual would be a daunting task as the company has to invest lot of resources to understand the data of each individual and then customise the product as it would increase the CAC but probability of having high CLV. - Elite professionals mostly have their own life coaches who take care of well being and sometimes it hard to convince them to use a single app which when compared to a physically present coach
· Do we have any tie ups with other companies to reach a wider audience?
Assuming I am the product manager of this application – goal of the application is to encourage voting more questions:
· Are we in the election year? Nearing the voting phase?
· If yes, then it will be easier for us to get users for the app.. else we need to explore more ways to motivate users to download our app
Goals of business:
· Need to make users understand the importance of voting -> why casting a vote is important -> as a broader system
· Need to make users understand why their vote matters -> as an individual
· Make users feel more responsible towards their nation/district/municipality
From the product perspective, we should focus on:
· Customer adoption
· Customer engagement
Would not be focusing on monetization since our product is in the maturity phase. Also, is monetization a goal of the business? Does it make sense for a voting application to focus on monetization? What if users take it the wrong way – associate it with a political angle? At this stage, I think it is a risk to focus on making money since it can endanger the above 2 goals. Let’s also focus on the competitor landscape:
· Facebook voting – trends about elections, encourages with nudges to the user that voting period is arriving soon in your area/region, users see their friends casting vote – with the help of DP, small ticks on your profile or a short post
· Election commission app – who are the representatives from your region, more used when votes are counted to know the results or gauge the trend
User segments/personas:
· High affiliation towards a party – die hard fans, definitely vote, have made up their mind before the election, generally vote for the same side every time, ignore the bad marketing, focus on getting more people to join their side, emotional beings, might lack practical reasoning/ thought process while voting
· Medium affiliation - Don’t care about who is in power, want a change for the better, not motivated enough to convince others to be on their side, don’t care a lot about who wins/loses
· No affiliation - Not interested in the voting system – no affiliation towards any party
We should first focus on segment 2:
· They are a practical segment
· Would want to have a reasoning or thought process before deciding their vote – hence should invest their time in our app – easiest segment to convert into early adopters
· We have decent scale and can drive impact
· Would act as a path openers for the 3rd segment
Strategy would be to start with segment 2 – achieve success - and then focus on segment 3 – to generate bigger impact Pain points/needs of this segment:
· Promises made by previous government/elected representative not fulfilled
· No development in our region since the last time we voted
· No easy way to communicate their problems/issues to the elected leader
· Too dependent on the media to raise their issues
· Don’t have time to take up the media route
· Busy professionals who want to succeed in life; their success depends on how easy government makes their everyday life
Prioritizing the pain points –
· Both are equally important
· Point 1 – should be prio – if we have time we can discuss for point 2
Solutions/features in our app:
· Development tracker
· Clearly lay out what were the promises made by their local leaders
· Imagine a map – you can zoom in to different levels - country, state, city, district
· Each level has an elected govt (might be different)
· List down the promises from the election manifesto
· Post a picture of the leader, video recorded while campaigning, making promises to the voters
· Break down the verbal commitments into points
· Ask user – do you think this has been fulfilled
· If yes
· Encourage users to post picture/videos of how that has been fulfilled in their case
· Post personal stories
· If not
· Post story of how it is still not unsolved
· Provide other users to show their opinion (quick poll)
· Eg: promise was made that all roads in my village would be repaired – I can post pictures of the places where this work is still not done since how long the work has not been done etc
· Reach out to your representative
· Depending on the issues prevalent – the ones which are common problems for high number of residents – reach out to your govt
· Need POC from the govt
· Bigger journey – can start small by creating awareness, onboarding media
· Our team can work on creating stories which matter based on real user data