Industry Project 2

Product Management

Assignment Instructions

DELIVERABLES

Part-1 - Product Analytics

Part-2 - Growth Strategies ● Part-3 - Product Roadmap

● Part-4 - Product Backlog and Sprint Backlog

Part-5 - Product Requirements Document

Part-6 - Go-to-Market Strategy

SUBMISSION GUIDELINES

1. Part-1, 2 and 6 should be submitted in this PPT document.

2. Part-3 and 4 should be submitted in the excel document given on the platform.

3. Part- 5 should be submitted in the word document given on the platform.

Part 1

Product Analytics

Acquisition Metrics

Number of App downloads

Number of successful signups

App download: This metric will help us determine exactly how much the company spends for the user to download the app. Tracking this will help the organization formulate policies to reduce this cost.

Bounce rate: This metric will help your organization understand how many visitors have not viewed more pages than your landing page. In addition, a higher bounce rate could mean that your landing page needs to be optimized to determine the value of your product.

Customer Acquisition Cost: This metric helps you identify marketing costs to acquire users through different channels. This helps organizations test the effectiveness of each channel and identify which channels are costly to acquire users.

Acquisition cost: This metric helps your organization track which channels it helps to execute many transactions and win more revenue-generating customers.

Activation Metrics

Average time(days) to place 1st order post signup or app download: This metric helps track the number of days it takes a single user to realize the value of a product before an organization places an order. The higher the number, the more optimizations need to be made to allow users to execute transactions in order to realize the value of the product.

Free to paid within 1 month of signup: This metric helps organizations recognize the full value of their products and track the number of users who subscribe to professional features within a month of signing up. The higher the number, the higher the cash flow and the stickier the product.

Number of Activated users: It measures the activated user, that is, the signed-up user who made the first order in the app.

Retention Metrics

7 Days Active users: The number of users who order once a week. This helps you know the exact number of users who are making the most contribution to the revenue your organization generates. This will further help organizations optimize better strategies for retaining these users.

MAU: The number of users ordering once a month via the platform. This allows you to isolate users and predict order cycles based on the frequency of orders on the platform.

Churn rate: This helps you know how many users haven't found enough value in their product. High churn means that your product needs optimization or isn't acting as a differentiator for users to switch from a competitor's platform to our product.

Download rate: This metric keeps track of the number of uninstalled apps. Most users of the app will be inactive in the app within 7 days of downloading or uninstalling the app. By tracking this, you can email us why you want to uninstall. This allows you to optimize your product and reduce its post-value-added rate.

Revenue Metrics

Average order value: Tracking this metric can help your organization estimate total revenue and can help you make future predictions. Also, a low AOV means a small number of orders, which affects cash flow and eats up margins.

Number of daily orders: Tracking this helps organizations understand the peak load that the platform can handle. It also helps organizations understand the supply of restaurants and logistics needed to meet their demands. Further segmenting the daily order count by city helps optimize the problem when the daily order count in the region is low.

ARPU: Average revenue per user is the amount an organization earns per user. High ARPU means more cash flow to maintain business and more margin to maintain profitability.

Customer Lifetime Value: This is a measure of the revenue a business expects from a single user. Tracking this helps organizations set or optimize future financial forecasts.

Revenue Metrics

LTV - CAC: This is the lifetime value ratio of customer-to-customer acquisition costs. This ratio must be greater than or equal to 3 for any business to be called sustainable.

Monthly Recurring Revenue: This is the amount an organization is expected to earn from each of its premium users: YOY. A high MRR means that users of this service have found enough value to repurchase this service. Apart from the cash flow it brings, a higher MRR means that the product is sticky enough to retain most users.

Referral Metrics

Viral coefficient: The viral coefficient is the number of new users generated by existing users. In the case of SLURP, it is the number of users who signed up from the friend's invitation link. The larger Virial coefficient indicates how fast the company will grow.

App store ratings: This is a measure of rating provided by users and customers on the App Store or Play Store. Daily tracking isn't that important, but it should be monitored regularly to measure app performance from the user's and customer's perspectives. A negative rating means that the user is not happy with the performance or other issues of the app. This may also allow the user to uninstall the app.

NPS: The net promoter score is a measure of the number of users who are satisfied with or have found enough AHA moments to introduce their product to other users. A good NPS score is very important for the SLURP. This is because it reflects user satisfaction with the product and can be referenced and reflected in growth for other products.

Referral: Tracking this helps to organize the channels that existing users are using most to introduce their products to the network.

Additional Metrics

Engagement

Cart abandonment rate: This helps organizations add food to their carts and find out how many users didn't make payments. Higher rates mean that the offer on the checkout page is not convincing enough, payment methods are not available, and so on.

Avg time to place an order/city: This helps organizations understand how long it takes to place an order in a particular city. This helps organizations understand the exact cause when the average time is long. This may mean that it is not enough.

Preferred form of payment: This allows you to understand the most commonly used payment methods, optimizes each user's payment page, and always displays the most commonly used payment methods at the top, providing a great user experience.

Click Through Rate for push notifications and email: This measures the effectiveness of push notifications. Tracking this helps your organization understand the exact number of users who clicked on your app's notifications or links in your email. A low CTR means that the content of the notification isn't attractive enough for the user to actually click and check out.

Additional Metrics

Additional metric to be tracked:

• Payment failure rate/payment channel

• App load time

• Average delivery time

• Daily Number of orders cancelled

• Number of refunds generated daily

Wireframe - Analytics Dashboard

Wireframe - Analytics Dashboard

Wireframe - Analytics Dashboard

Wireframe - Analytics Dashboard

Part 2 Growth Strategies

Acquisition Channels

PPC, PPI, and display ads –allow businesses to further customize their campaigns. Paid ads can be placed via Google Ads and on other platforms

Facebook, Instagram, Snapchat and many similar social media platforms can be used to organically source acquisition and increase mobile app downloads. OSAM Khana can also place paid ads and sponsored posts to gain more organic exposure.

OSAM Khana can also gain organic exposure by sending personalized emails to customers and by providing customer relationship management to them.

Acquisition Strategy

Leverage User Generated Content on web and apps

User-generated content (UGC) platforms, also known as customer generated content (CGC) platforms, helps brands collect visual product or company mentions from social media and other sources to repurpose for marketing efforts. UGC Platforms allow businesses to use user generated content on their websites to influence ‘discovery based’ ecommerce. Brands can easily gather UGC, secure approval to use it, and present it onsite to help boost conversion. Third party solutions like Olapic, Curalate, Bazaarvoice are easy to integrate and can quickly provide a uptick in session time, as users tend to explore and learn more about the product.

Activation Strategy

Activation rests on adding more users to the top of your funnel, i.e. generate qualified leads

I would look at the landing pages used for paid and sponsored ads and decide which once works best. They should be practical and concise CTA’s that will drive click-throughs and get users to engage with the product to find out more. The landing pages should also be scalable and optimized so that acquisition funnel is enhanced.

Activation Events

APP Downloads

Successful App downloads means acquisition strategies have led users to download your app.

Placing an order

Placing an order successfully on the app or website, is an important touchpoint for a user activation event.

Subscribing to a meal delivery plan

Subscribing to a meal delivery plan is also an important touchpoint for a user activation event.

Activation Strategy - Onboarding

Avoid the cold–start experience

The churn rate for most apps is 86% in the first two weeks, which means that most people won’t even get to experience your product.

Onboarding screens and/or ‘Welcome’ screens give potential customers a glimpse into your product’s value proposition. The screens should be precise and should compliment the user journey that they will experience once they log into the app.

I would look into optimizing these screens and ensuring that the core value propositions are explained in a userfriendly way.

Activation

Incentivize the first order

If users don’t experience your product, they are more likely to never interact with you again.

We can use cashbacks or discounts on the first order, with or without a promocode to incentivize the first order placed.

If there’s a certain provider they frequent very often, we can offer a first time subscription discount as well.

Retention and Engagement Strategy

Reward your most profitable customers

Using the Pareto principle – 80% of your outcomes come from 20% of your causes.

Rewarding your most profitable customers with tailor made offers and packages, will recognize them and form an attachment to OSAM Khana. Knowing who brings you most revenue allows us to allocate our time and resources efficiently, as well as increase the chances of cross-selling or up-selling. We can choose (A/B testing) from various programs like pointbased, paid memberships, tiered program, and better yet a community-based program like Sephora.

Retention and Engagement Strategy

Personalize your communications

The effects of personalization cannot be understated, as research from Econsultancy found that personalization based on purchase history, user preferences and other relevant information typically found in CRM software delivers a high impact ROI.

A relationship is something that is established between people, and a solid CRM strategy makes it easier for you to see your customer as a person and not just a number.

We can use pervious purchases, search teams to gauge what the customer interests are and then base our marketing campaigns around these interests

Referral Strategy

Incentivize Referrals to friends and family

Your customers as our own influencers!

Using a personalized link, both the referrer and referee get a discount or benefit when the link leads to a sign-up or a successful order is placed. This will encourage the referrer to send out the invite link to more people and convince them to place an order so both people receive a benefit.

Referral Strategy - Referral Leader boards

Example: OnePlus

OnePlus’ referral program is two pronged. One aspect allows for people to earn points with their referral that can be used towards purchasing on-board accessories. The second one includes a gamified leader board that rewards the Top 10 referrers with ‘exclusive prizes’.

Referrer benefit: 2000 points per successful referral.

Referee benefit: Rs. 500 voucher towards the purchase of a new device.

OSAM Khana’s MVP already includes an option to subscribe to meal plans, based on frequent orders.

We can perhaps offer paid memberships, like Zomato PRO(Gold) or Swiggy Super that gives customers tier-based benefits. For example:

OK Basic – 10% off for orders above Rs. 200

OK Silver – 20% off on all orders above Rs. 500

OK Gold – 40% off on all orders above Rs. 1000

The higher the tier, the better the benefit delivered.

Part 3

Product Roadmap

Part 4 Product Backlog and Sprint Backlog

Part 5

Product Requirements Document

Target Release

December 2022

Epic

Revolutionizing food ordering online.

Document Status In Progress

Document Owner Mithvin Kousthub C M

Designer Sushant Nikam

Tech lead Avi Tankaria

Technical writers Ojas Joshi

QA Dennis

What OSAM Khana, [SAB KA KHANA]. It is a food ordering app aiming to revolutionize the food ordering system easier.

• Quick conveyance choices as it proposes the eateries inside the 5 KM of the sweep.

• Allowing the customers to save their cherished eatery to get suggestions about it.

• An option to pick the mode of payment out of COD, Credit and Check cards, and UPI.

• Clients can follow their orders' live area.

Why

• A great many people who bought into food conveyance administrations showed that 'convenience' and 'not choosing what to eat each day' were ideal motivations to buy in.

• Organized/Customized menus, conveyance times, cleanliness, ecofriendly bundling, limits and advancements, request following, food amount, fixings, the absolute expense of food.

• High commission cuts from the application make the net payable cost of clients higher.

• To address the conveyance issues including late conveyances and undoing.

Scope Login & Sign-up

Profile

Home Page

Clients ought to have the option to sign up and log in with a Mobile Number, Email and Facebook.

Addresses

Food inclinations

Payment Options

Referral

Settings

Search bar

Location auto-detected

’Featured’ products

AI Suggestion

Location-based FOT (Frequently Ordered Item)

Landing Page Maps client's location to give suggestions from his area

The client can look for the café of his/her decision

The client will want to explore the cafés inside 5km from the area

Distinguishes the eatery alongside the food as a decision of the way of cooking the client would want to have.

Search Page

Payment Page

Tracking Page

Static Pages

Marketplace

Image thumbnails

Results include a summary of each item

Estimated delivery time

Cart

Filters and Sorting

Shows the final bill amount to pay for the delivery

Total No of Items

Payment options | COD, DC, CC, Wallet & Coupon

Live Tracking

Driver details: Vehicle number, Leave a note, Chat

After delivery: Rating for food and delivery, customer support

About Us section

Help section will include FAQs and Customer Support links

Out of Scope for MVP (for future releases)

The search bar should work with the item name, category.

Enhanced filters & sorting

Examine information for catchphrases and improve search channels

Notification Centre

Chat Support

Product Feedback

Shows the client a notification that they have absolved

Allows the user to chat with a before subscribing.

Will include in-app messaging.

In-app reviews and rating system for the order delivered

How

Create detailed Epics, Features and User Stories to chalk out requirements

As a client, I ought to have the option to log in to an application to see eateries close to me for food conveyance.

As a client, I ought to have the option to send off the application to have the option to sign in to it and request food.

As a client, I ought to have the option to see a rundown of eateries close to me and the kind of cuisine they offer so I can look over the cafés close to me.

Detect user's location

As a client, I ought to have the option to log in to the application utilizing my portable number and OTP with the goal that I land in my profile, track past and ongoing orders.

As a user, I should be able to locate all the restaurants near me for quick delivery of ordered food.

High EC-2

High EC-3

Restaurant listing

As a user, I should be able to see the list of restaurants available near me to be able to choose from them and order food for quicker delivery.

High EC-4.1

Restaurant name with cuisines

As a client, I ought to have the option to see the cafés with the kind of food they deal with to have the option to waitlist considering cooking to arrange from.

High EC-4.2

Order Tracking

As a client, I ought to have the option to follow the request put on my arrival screen when I open the application to have the option to rapidly see the continuous request and track it also.

Medium EC-4.3

Prototype video – https://photos.app.goo.gl/HsKgFjxWAjf9f89t6

Prototype Link - https://www.figma.com/proto/2WpiSdwugvXnCieyxBXpVe/OSAMKhana?node-id=87%3A426&scaling=scale-down&page-id=0%3A1&starting-pointnode-id=87%3A426

Success metrics for the beta release

Goal Metric

The level of new clients taking on the application: Adoption rate = a number of new clients/all out number of clients.

Adoption

This metric will help us determine exactly how much the company spends for the user to download the app. Tracking this will help the organization formulate policies to reduce this cost.

Introduce to Registration Rate: 20% clients register after the first application send off.

A number of clients submitted their first food request utilizing the App inside the primary month of introducing the Application.

Activation

Center Action-30% clients perform centre activity soon

It measures the activated user, that is, the signed-up user who made the first order in the app.

Number of dynamic clients

MAU-No of clients requesting one time each Month.:- 6% normal tenacity (MAU)

Retention

Beat rate-88 % new clients Churn inside about fourteen days of sending off the application

Exchange Abandonment Rates-The quantity of clients who dropped off in the wake of showing a high purpose to execute:5%

Number of times the application was sent off by every client in a time of a month.:- should be 10

Engagement

Following navigate rates to enhance message content, conveyance times, client fragments, and crusade systems.:- 1%

Normal Session Length:- 15 Mins

Performance

Normal Customer fulfillment ought to be more prominent than 9 out of 10

On time conveyance ought to be pretty much as high as 9 out of 10.

Security Client information security ought to be of the degree of six sigma.

Go-to-market

• Target Market - Working Professionals having a place with age bunch 18-35 years residing in Metro and Tier-1 urban areas and acquiring 3+ LPA.

• Product Device Usage (App/web etc)- App and site.

• Pilot launch - MVP sendoff is anticipated Dec 2022

• Pricing Model / Strategy- The pricing strategy for our item will be to make a decent commission of around 10-15% from cafés on all orders. Furthermore to give a proper Rs 20-30 to conveyance accomplices on each request, as at first, all orders will be somewhere out there scope of inside 5 km. What We take from clients will be the food cost + conveyance cost. In this manner commissions from eateries will be significantly transformed into benefits in the wake of deducting functional expenses.

Release Timelines

• MVP target launch - Dec 2022

• PRD for MVP complete - March 2022

• Wireframes –March 2022

•

•

UI design complete - April 2022

Development complete for the MVP –Mid Dec 2022

• SIT / Internal QA - Dec2022

• Production Release - Dec2022

Part 6 GTM Strategy

Achieving Product-Market Fit

Our market research indicates that customers would like home-cooked meals subscriptions delivered to their homes or offices.

The Users

Through research, users indicated that their preference for home cooked meals through a delivery app is due to factors like

1.Ease of convenience

2.Better payment tracking or multiple options

3.Reminders and notifications

4.Order tracking

Our Product

OSAM Khana - Sab Ka Khana caters to food that serves different individuals and their unique palate.

Product Market-Fit strategy

At OK our goal is to provide superior customer service and provide the feeling of being home or close to home through food. With a dabbawala-like service easily managed on mobile, users can worry only about the food they want to eat!

Key Features from the Minimum Viable Product

Simple User-interface

To get users comfortable with an app, it is important to not overwhelm them with too many features, so our MVP aims to cover the basic functionality before introducing the subscriptions and preordering features.

Order Tracking

For users this is an important feature and through early feedback we will also be able to create the right feature enhancements.

Restaurants/OSAMChefs and Listing page

To enable users to choose based on their food preferences

Factors to Measure Product Marketing-Fit

After our MVP launch, some of the factors that will determine will be

1. Customer ratings and reviews

2. OSAMChef’s feedback - In terms of meeting demand

3. Operations (Delivery and Measuring supply)

Based on these, any enhancements or adjustments can be planned to prepare for Scale.

Product Positioning

Mobile app delivery model is more popular with Young/Millennials in College or Working

Our product is positioned to serve

Young audiences between 18-40 years of age who are looking for regular home cooked meals that offer flexibility, convenience and the feeling of being home!

• Subscription based

• Home-cooked

• Food-preference based

• Meal tracking

Pricing Strategy

Pricing strategy has been derived from the following factors to consider

1. Predictability of orders for a OSAMCHEF

2. Affordability for College students, Working professionals

3. Competitors (Direct and indirect)

4. Revenue Targets

5. Demand-Supply match

Strategy:

•The pricing strategy is Penetration pricing to focus on acquiring customers by offering lower prices, discounts and referrals.

•Each meal delivered through OSAMCHEF has a commission tier structure which becomes beneficial as the meals delivered increase over time

•Introduction of a Tiered pricing for value-added features over the next stages of product growth cycle

•Discounts and offers for users to help in acquisition of more users and OSAMCHEF’s

•Introduction of a In-app wallet or credits to ensure customer stickiness

Sales & Marketing Strategy

Channels to attract Customers

1. Social Media - IG, FB, LinkedIn

2. College Groups - Via University ambassadors and invites

3. Corporate Plans

4. Emails

5. Networking groups - Inner wheel and other Ladies groups

6. Word of Mouth

7. Website - Applications for OSAMCHEF’s

Product Launch Plan

1. Pre-Launch

•Plan for Social Media campaign to promote the launch of the app

•Onboarding Home-chefs and ensuring listings are in place

•Thorough App-Testing

•Defining KPIs that will be measured

•Technology team to ensure Launch day preparation is complete from a server and load perspective

2. Launch

•Track engagement and traffic on the app

•Marketing and PR support for D-day reporting

•Ensuring Technology is robust and no performance issues and crashes occur

3. Post-Launch

•Marketing strategy with respect to Testimonials, Ratings and reviews

•Basic support team to take care of resolution

•Product features and engagement strategies

•Continuous Bug fixes and improvements

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