REDBUS CASE STUDY Name: Identify at least 3 key metrics for RedBus that you, as a Growth PM, would monitor actively in order to improve its transactional funnel? Also, provide relevant reasons for considering Question 1 these metrics. (Instructions: Review their app and website thoroughly to be able to come up with relevant metrics.) 1. Conversion Rate (through funnel) Awareness Search Results
Consideration Seat selection/Add to cart
Decision Successful purchase
Conversion rates and funnels are a great tool to track where potential customers may be Response stuck and are not advancing to the next conversion stage. We can use the data to optimize the pages that may be leading to a higher drop off. 2. Average duration of First Visit to First Search/Search Results This metric would help us track how long it takes for the average customer/visitor from browsing through our platform to using our platform. This helps us identify if the app is prompting the customer/visitor to try the search features. Also, to identify if we have enough CTA buttons to lead them to the search bar. 3. Materialized Revenue It is the revenue from the bookings that are not cancelled in the later stages before the journey date. This would help us in tracking how many bookings were made and how many were cancelled by filtering them from the total number of bookings. 4. Bookings by platform and product Platform wise booking data will help to uncover which platforms and products are performing well, and if we need to enhance them. For example – the iOS app has fewer reviews, downloads and lower rating compared to the android app. We could look at what is going wrong with the app and what rectifications are required? 5. Repeat purchase ratio Since redBus is an aggregator, it is important to measure how big a percentage of successful transactions come from repeat purchases. The higher the percentage the more money you can afford to spend on acquiring a new customer since a customer will likely make multiple transactions.