Here is my take on the problem statements which were of particular interest to me. For ease of scanning, these have been structured as follows:
Solving Overchoice Frustration On Unacademy
Losing out on such potential customers because because of TMT (Too Many Teachers).
Reducing drop off rate on Unacademy website
To create a feature called “Unacademy’s Choice”
Unacademy will create an algorithm that calculates a “Teacher Score” for each teacher. Various measures will be taken to calculate this Teacher Score mentioned properly further in this PRD.
These measures will be arranged in a priority pyramid and according to that each teacher will get a set score.
In each course the top 3 teachers with the highest score will get the tag of “Unacademy’s Choice”.
When a potential user searches for a course on the website all the teachers offering the course will pop up on the search results page, but the teachers that are tagged as “Unacademy’s Choice” will be first in the list.
Manage the amount of teachers on Unacademy
While this solution does provide clarity through less choice to the student it also hampers the teacher experience on the site and Unacademy’s brand promise of having exhaustive material and teachers to help a student achieve their dream college/job.
Psychology says: Decision-makers in large choice situations enjoy the decision process more than those with smaller choice sets, but feel more responsible for their decisions.
Judge teachers on star ratings only
Many websites are doing this to rate their products and services and it is quite obvious how easy it is to rig through referrals and reviews from friends and family.
While this is done in a good spirit it can cause an obstruction for a good user experience as these ratings and reviews might oversell thereby increasing expectations of users (in our case enrolling students) and that will cause dissatisfaction in the longer run.
Determining the design of "what can impact my credit score" screen for India
Increasing number of users
Increasing awareness about the existence of our product.
Order of information
The order of the information will be on the basis of the weightage of the respective factor in the calculation of the credit score. The higher the weightage earlier that factor will be displayed in the order.
Credit Mix and Duration
Marketing channels for acquiring customers:
Facebook: This social media site is majorly frequented by the GenX and the older section of millennials (let's say aged 28-35). Which is a major part of the audience we are looking to target.
Finance news apps and newspapers: An audience that is interested in finance news would be one that takes their personal finances seriously as well and hence would be interested in keeping a tab of their credit scores. The apps and newspapers I am suggesting here would be of the likes of Economic Times, Mint, Bloomberg Business, CNBC business, etc.
Billboards in commercial areas in metro cities: The audience that we are targeting is majorly office going corporate India.
75% of people rely on billboards to get their information and offer details from many brands.
Billboards at commercial sectors in metro cities such as the BKC of Mumbai, the IT Hub of Bangalore and Gurugram, etc would be prime locations for increasing awareness of the product and acquiring new customers.
While finding a ‘Hook’ or ‘selling point’ for the product I thought of what will incline the potential customer towards choosing creditkarma over other options available in the market. The answer to this will be what is it that CreditKarma is doing differently/better than others. With that zeroing down on a ‘hook’ becomes easier.
Here are some factors that I will highlight about CreditKarma while trying to get people to sign up to the service:
Free!: Free credit score calculation.
Security: User data always stays secure and encrypted.
Additional guidance: See personalized recommendations for ways to use your credit more wisely.
If you, like me, do not have a Spotify premium subscription yet then you might have noticed the new ads that run these days between songs on Spotify.
The ads have a boy or a girl talking in Hinglish (Hindi + English) mocking the previous ads and also actively telling about how these ads are so annoying.
With this Spotify created ads out of the thoughts of the common folk about Spotify ads. Also known as ‘Owning the complaint’.
Here they agree that their ads are annoying and strike a very personal chord with the listener as they feel the person talking in the new ads is their friend, if not they itself.
A very interesting approach to advertising.
Instagram started out as a picture sharing social media platform. Eventually they also introduced video and then stories as well ( to compete with Snapchat).
People started making great use of Instagram and slowly it also became a creator platform. For a long time Instagram had a fix placement of icons with the explore placed beside the home button.
The explore button helped you discover creators who are making stuff you are interested in. Then Instagram introduced reels which are similar to tiktoks.
The reel button replaced the explore button and Instagram started pushing reels a lot. Creators who made mediocre reels shot to fame suddenly and reels helped them get insane reach.
Now the dilemma of Instagram is such that they have to decide what kind of a platform are they.
A social networking site? A creator first platform? Obviously they wish to maintain a balance of the two as it is the most favorable platform for companies who want to advertise their products and Instagram want more of those.
But what’s concerning is that while trying to become a huge social media hub Instagram might lose its exclusiveness of ‘visual-only’ and will become the jack of all trades but the master of none.