What metrics would you chose for TikTok Live?
Google
Meta- Gary Houston
Product description: TikTok is a social sharing app that enables users to upload and share short videos upto 60 seconds length. TikTok users view videos that match their profile interests and Tiktok’s algorithm provides recommendations on next videos to watch.
Goals:
Tiktok wants to increase the time user spend on their App uploading the content, live sharing, sharing uploaded content, like, comment on other user’s content.
Tiktok’s monetization strategy is based on in-app purchases, commission from the creators and ads in the form of Tiktok business accounts, challenges.
Which shows the user engagement on platform drives the monetization aspect of their business.
Users journey:
- Creator User- creates content, uploads and shares content with followers, deletes content from Tiktok. Live broadcast to followers,
- Viewer User – Searches content by topics of interest, followes creators, unfollows creators, views videos, views live videos, likes/comments/shares videos.
Framework:
- Adoption /Acquisition : There are millions of users active on Tiktok platform today, the feature became so popular that there are other social media platforms following the same path where YouTube launched YT shorts, IG launched reels to capture the market share. Hence, adoption and acquisition are not an issue for Tiktok.
- Retention: With other social media backed up by successful products in other domains breaking into short video sharing and recommendations, I feel it is important for Tiktok to keep check of the user churn and understand how good they are at user retention.
- Engagement: As I talked earlier in the goals, the user engagement on Tiktok platform drives monetization as they are closely coupled due to the monetization strategy utilizing user engagement aspect of the App, I want to focus on the engagement as important metric. How much time does a user spend on Tiktok daily? How do they interact/engage with the platform is important to know the success of the business.
- Monetization: Tiktok obiviously wants to monetize the platform hence they have recommendations based on user preferences and user activity on Tiktok for in-app purchaes, they infact have developed a virtual currency “Tiktok coins” that users can buy with real money and gift to creators, creators then pay commission to Tiktok. It is important to know health of these Tiktok coin transactions to understand whether monetization strategy needs improvement.
Tradeoffs:
Focusing on the two primary goals of user engagement and monetization sounds good as a metric however, I feel I have not consider the content quality for the engagement section.
Increasing creator engagement will not alway mean quality content so I think there is need to further segment user base on categories based on account age, having an algorithm in place that will provide accurate data to derive engagement for quality content only.
Summarize:
Primary metrics:
I would focus on creator and user engagement with the following metrics-
-% growth in user interactions such as likes, comments over time (D/W/M/Quarterly/YoY)
-% growth in creator content uploads by account age
-% growth in Tiktok coins transactions over time (D/W/M/Quarterly/YoY)
Secondary metrics:
-% growth in followers over time (D/W/M/Quarterly/YoY)
-% growth in gifted coins over time (D/W/M/Quarterly/YoY)
-% growth in views for each category videos, live videos
Moonshot:
– Track content quality, creator segments based on popularity, account age and determine % growth based on this data