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Headspace apm growth project

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A short Description of how I would grow Headspaces subscriber base from a product management point of view.

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Headspace apm growth project

  1. 1. APM Growth Project By Dhiren Patel
  2. 2. First Step Analysis & Research to define key areas for optimization
  3. 3. Questions to Ask
  4. 4. How is the Product Growing? ● What demographic, region is growing the fastest and which is slow? ● Total New Users? ● New users by source? ● Understand what is driving new users and what’s not ● Activated users - someone who actually signed up or performed an action. ● What experiments have produced growth previously, are they replicable? ● What Lifetime value do they produce?
  5. 5. Is the trial member to subscriber optimized? ● How can we convert more people? ● What’s missing? ● Reason’s users are not converting to paid subscribers from user surveys or NPS score comments. ○ Customer Development to better understand user needs and pain points ● I looked at articles online for this since I don’t have user access aside from myself being a user. ● From Friends and family ○ Price was the common issue, because they’ll eventually have to subscribe after 10 days.
  6. 6. What are the Pain Points?
  7. 7. Learnings from Design for Health Event ● Users want more guidance because they don’t know what to do after trial pack. ● What pack to start with and why? ● Too many options - Paradox of Choice ● Time isn’t a problem, it’s building a health routine. ● Most users didn’t make it past a week and are new to meditation.
  8. 8. Price? Majority of review articles and my Family use this as a barrier to continuing using headspace or even starting. “You must pay for the service after completing the trial: Headspace costs $12.99 per month, about $95.85 per year (listed as $7.99 per month, but billed once annually), or $399.99 for lifetime access. That's expensive when compared to other monthly services, like Spotify ($9.99 per month) and Netflix (also $9.99 per month)” “And the free approaches can also be better than what you'll find on Headspace. Meditation is a highly personal thing. It's far easier to personalize your practice using free guided meditations rather than using Headspace's highly generalized approach”
  9. 9. Usability? “It’s too introductory and simplified for me” ● First, ten days were too basic. ● Expert Meditators don’t find it compelling.
  10. 10. Creating a Habit is hard “It is also hard to remember to work it every day, even with the notifications that the app will send you. For someone who does not have a racing mind, this will be the perfect app for you”
  11. 11. Second Decide What Metrics to Measure
  12. 12. Growth Metrics ● Trial conversion rate vs regular trial journey ● Customer Acquisition Cost ● Customer Loyalty & Retention vs regular trial journey ● LTV ● Revenue ● ROI ● Subscriber growth ● Churn Reduction
  13. 13. Third Direct Competitors
  14. 14. Feature Table Similar Features ● Sleep ● Meditate ● Stress ● Happiness Unique Features ● Mindful Movements ● Music vs Headspaces Sounds(More targeted for sleep) ● Different people creating the content vs one(Andy) ● Sleep stories are narrated by Celebrities.
  15. 15. Facts ● The homepage has twitter reviews to validate the product. ● Ranked No.1 in revenue by SensorTower in Q1 2018 ○ $8 Million in revenue ● Looking at 14-day user retention for U.S. users, both Headspace & Calm retain about 7% of new downloads past that point, leading us to infer about 7% of all installs end up becoming paying customers at least for a month ● Subscription price: $12.99 monthly / $59.99 annual / $299 lifetime
  16. 16. 10% Happier
  17. 17. Feature Table Similar Features ● Sleep ● Meditate ● Managing Stress ● Beginners ● Happiness ● etc. Unique Features ● Videos by expert teachers, not just one person ● 10% Happier lets you start a "conversation" with experienced meditators who typically reply in a day.
  18. 18. Facts ● 300+ Video Lessons ● 500+ Meditations ● Has increased its In APP Purchase revenue 179% YOY ● Subscription price: $11.99 monthly / $79.99 annual
  19. 19. Simple Habit
  20. 20. Feature Table Similar Features ● Sleep ● Meditate Unique Features ● Simple Habit has a list of "featured teachers" and their meditation sessions so users can explore different styles and personalities.
  21. 21. Facts ● Only an app ● Recently raised a Series A - $10Million ● Ranks 4th on highest revenue according to SensorTower ● 3rd most popular Meditation App behind Calm and Headspace ● The website has no info outside of downloading the App ● Subscription price: $11.99 monthly / $96 annual / $299 lifetime
  22. 22. Fourth Draw out reasonable assumptions from analysis and research
  23. 23. Price seems to be the biggest issue
  24. 24. Potential Solutions ● Offer lower priced subscription for the holidays as a 3-month fee to get them over the hump and get a sense of the full product features. ● Cheaper price if a buddy refers you. ● Can be A/B tested vs normal offering ● Can eventually see if the LTV of the user is worth the limited time deal. ● Is it driving new users? ● Are they activated users? ● Talk to finance and management about which of these solutions are doable. ● Some competitors have similar price, so lower prices could drive users to Headspace
  25. 25. Seasoned Meditators find the intro pack to basic.
  26. 26. Run a test Can do a quick survey to get real data points to validate this through an email or an alert in-app asking users to whether they are beginners, intermediate, or advanced mediators when they sign up. ● Do those that more intermediate and advanced decide not to subscribe after ten days?
  27. 27. Validate with data ● Does your research validate people finding it to basic. ● If you find this assumption to be true - run a growth experiment by: ● Segmenting those that have intermediate and advanced experience and A/B test those users by providing different experiences and see who is more likely to convert to a subscription. ○ A - regular customer journey through 10-day trial ○ B - Access to more advanced packs in the 10 - day trial
  28. 28. Potential Solutions for seasoned users
  29. 29. Auto Generate certain packs for each group. Can ask them during their journey what level they are and suggest some packs for them: ● For example, can use the Level 1-2 course for the Intermediate group and 3-4 for the advanced. ○ Since some packs are 30 days long, they might be incentivized to subscribe so they finish all 30-days of the pack they chose
  30. 30. Sample Wireframe
  31. 31. User Guidance Solution
  32. 32. Help user get more guidance by asking them questions ● Create an alert that asks the user about how they are feeling after they initially subscribe ○ To help them figure out which pack, to begin with after the intro pack. ● Based on their answer guide them to a few suggestions ● EX. I'm feeling anxious ○ Managing Anxiety pack ○ Letting go of Stress ○ SoS - Feeling overwhelmed ● Can look like the wireframe. ● Can A/B test doing this every ten days or every 2 weeks because people drop off after that period.
  33. 33. Fifth How we Can Market the New features
  34. 34. Holiday Pricing Run and Email Campaign to users that did not convert to trial with the new Holiday offering. - A/B test different content ● Black Friday ● Thanksgiving, Christmas, Hanukkah, Diwali Social Media ● Similar to the Thanksgiving campaign for talking with fam. ● AdWords/FB ads campaign to target new users that have shown interest in meditation or mental health.
  35. 35. Seasoned Users Campaign Level your meditation practice with Headspace ● If you’re able to segment old users based on why they quit using the app or didn’t convert the trial based on it being to basic for seasoned users. ○ Target those people with an Email campaign about having a customizable headspace experience for your level. ○ How headspace helps you keep the habit. ○ Advertise Headspace Pro Levels to them and Meditation Essentials sections. ● Social Media campaign about how Headspace is more customizable for the intermediate to expert meditators.
  36. 36. User Guidance Social Media Campaign ● “For those looking for more guidance on meditation, we’ve…” ● Quick video of feature suggesting packs or singles based on how user is feeling. Email Campaign ● User’s that didn’t convert showing the feature ○ Can A/B test a few ideas to see what drives the most growth
  37. 37. Sixth ROI on Projects
  38. 38. Worth the time? ● Talk to engineers, management, design, research, and science to the team to really dig into whether it's a good idea and how much time and MVP of this feature would take. ○ Where does it fall on the priority list? ○ How much ENG time and design time will it take? ○ How much time away from research and product will it take away? ○ Is the ROI worth it is our estimations? ● Asses how much time this will take from Marketing & Analytics teams and if it’s a good use of their time. ● Ultimately how much money will be spent on making each of these.
  39. 39. Bonus Ideas Woo!
  40. 40. Buddy pat on the Back A really cool feature to have in-app would be a notification that tells your buddy reached a milestone with the ability to congratulate them! This would keep the user more engaged by positively reinforcing the behavior of meditating! You can also, send an email asking users to congratulate their buddy on their milestone as well.
  41. 41. Influencer Favorites/Albums I use Apple Music and they have albums by Celebrities and Athletes like Lebron’s Unbreakable Playlist. Something similar could be used as a growth experiment to leverage influencers like Serena Williams, Kevin Love, or Jeff Wiener to create custom “Album” of their favorite packs they use to help prepare them for the challenges they face. Can help new users overcome the guidance issue.
  42. 42. The End Thank you!

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