First I’d ask a few clarifying question to define a boundry for the problem statement such as:
1. Do you have specific FB product in mind – eg. FB.com, Instagram, whatsapp, messenger, occulus etc? Assume: Whatsapp as it has a potential to grow and monetize
2. Do you have a specific geography in mind or feature targeted to the whole world? Assume it’s targeting the whole world.
3. Do you have a platform in mind – web or mobile? Assume: mobile as it is the largest userbase
4. Do you have a specific goal in mind for the feature? ssume: Goal is to monetize as Whatsapp is widely used and engagement has a natural hook of users wanting to communicate with their riends and family.
Summary: We want to launch a feature to monetize whatsapp.
Then I’d like to identify some user segments who already use this service:
1. Personal use – People who use it as a communication tool to chat/call their friends and family
2a. Professional use – communicate with teammates
2b. People who sell stuff or service eg. Wedding decorators, bakers, independent massage therapists, jewellers etc. Independent contractors not large companies. This behavior on whatsapp is prevalent outside US in countries like India. Personal experience of planning own wedding.
I’ll choose the 2b. People who sell stuff as this group provides the highest potential to monetize.
I’ll go through the user journey to identify some pain points. I’ll choose the specific case of a wedding decorator here to flesh out the user journey.
1. Sarah has a new client who would like to plan their wedding. Sarah was referred to them by their friends
2. Clients call to discuss and ask for options
3, Sarah sends them a menu of options and price points
4. Clients choose an option
5. Sarah works with them to decorate, clients get married
6. sarah gets paid
(obviously shortened in the interest of time!)
Pain points:
1. Discovery – how do people find out about Sarah? WOM? Yelp?
2. How do people choose Sarah? How do they know she is good? Reviews somewhere?
3. How does Sarah share her ‘menu’ of services?
4. How do clients evaluate service? Make a choice? How does Sarah share sample images? sending same images again and again may not be ideal
5. How do clients make the payment? Wire? Credit card?
6. exchanging documents?
I’d like to evaluate these pain points with the lens of impact on user and availability of similar feature in the market.
I think #1 and #2 are kind of solved in the real world. People go to yelp or angie’s list type of local marketplace to find such service providers. They also have reviews to help people choose. While #3 is possible to achieve through a personal website, not everyone has the knowhow to do so and can be a potential obstacle to business success. We could also innovate here with some AR type of features to really differentiate. #3 and #4 are kind of related. Sarah will have to understand client tastes and propose a design for their wedding. Clients have to be able to visualize in their location and choose. I also think adding in the ability to digitally sign contract and make payments would make the feature valuable as a one stop shop for Sarah to manage her business. Impact could be high as she can quickly share designs and convert leads to potential paying customers. She could really focus on her core business of creating new designs and trust whatsapp to take care of payments and other support functions. For FB, we could charge a fee to maintain her designs, digital signatures and payments.
Solutions:
1. Develop a ‘business profile’ that allows sarah to upload her previous desings and create a menu for the clients to see her previous work.
2. Once they choose Sarah, she could create a customized wizard to understand client needs. We could innovte here and allow her to offer a image stream for the clients to swipe left or right to explain what they like.
3. Based on their selections Sarah could create a custom design and share on whataspp. Sarah could also get feedback on chat
4.Once finalized, Sarah could create a digital document for the clients to sign electronically describing payment terms and such
5. Create a ‘digital wallet’ or payment account for Sarah where she can accept payment
Since we are launching a brand new feature, it’s important to find product-market fit, so I’ll prioritize solutions 1,2,3, 5.
Success metrics for me :
1. # of sign ups
2. # of payments
Summarizing our new product : We will help monetize whats app through service fees for independent business owners by building a way to showcase, facilitate selection and completing payments.
Looking at it critically – Gaining stakeholder approvals could be challenging as FB typically makes money via ads and providing free services. Also, discovery is very important step, so we may have to evaluate again if including it in some way such as a short link from yelp or angie’s list might be increase value.