Download as PDF, PPTX
Uploaded byTarun Kumar
How to improve repeat rates ( user retention, purchase frequency, repeat users )
The product manager is presented with an opportunity to increase repeat rates for customers of an online pharmacy. Some key metrics to evaluate include repeat rates of customers in terms of orders, monthly active repeat users, and repeat orders per repeat user. Features that could help improve repeat rates include enhancing the TrueCare membership program, introducing a dosage planner with reminders and easy reordering, a chatbot for customer assistance, personalized health tips, and improvements to the family health records feature. The dosage planner is identified as the highest priority feature to focus on initially due to its potential impact and the fact that it is not widely available from competitors. A release plan is outlined showing development, testing, and controlled rollout of the dosage planner feature over
How to improve repeat rates ( user retention, purchase frequency, repeat users )
- 1. Tarun Case Study INCREASE REPEATRATES IN ONLINE PHARMACY
- 2. “You are aproduct manager in an online pharmacy. Your marketing manager comes to you and says that the repeat rates for your company’s customers are quite low. He wants product to drive improvements to increase repeat rates. 2 ❑ How would you go about evaluating what you'd do to improve? ❑ What metrics might you look at? ❑ What is a feature or set of features you'd want to release and how would you think about it relative to the rest of your roadmap? ❑ How would you execute on such a feature, from ideation to release? Case Study
- 3. “ CareEasy* Personalized care likefamily Who are we ? Online medical store with Omni-channel benefits 4 *Hypothetically assumed
- 4. 4 What do wedo ? We offer wide range of * Products - “prescriptions drugs” , “OTC medicines”, ”fitness supplements” , “healthcare devices” , “personal care” , “health condition products” , “Nutritional diet products” , “Safe baby products” , & Services - “health records” , “family prescriptions” , “easy prescription refills” , “home delivery” , “store pick-up” , “care clinic”, ”health advice” *in our customers’ own words
- 5. Who do weserve? Individuals seeking a healthy lifestyle for themselves and their family Our regular customers (User Personas) ✔ Shaun Age 36 , is concerned about occasional health problems in his family - cold of his elderly parents and his school going kids. He sometimes orders OTC and prescription drugs ✔ Rachel Age 29 , loves an active lifestyle and has been on high protein diet for which she orders nutritional products and supplements. She also regularly orders medicines for her mother’s prolonged illness ✔ Vanessa Age 34 , restocks her medications regularly for her chronic Asthma so that she could lead a normal life ✔ Anna Age 32 , buys high quality products for her baby and wants the products to be delivered at doorstep 5
- 6. 6 Our delivery 2day delivery Our Product selection from trusted brands Availability of our products Our self-pick up model with in-store product search Our discounts of 15% on medicines Why do they love CareEasy ? *Top 5 reasons of repeat customers as per Customer Survey Aug, 2019 65 % 28% 54 % 45 % 25 % “ I like the fast delivery ” “….mostly find all needed medications” “ Product search is user friendly ” “ Most branded items are available ” “ Delivery & self-pickup” “ ..good offers ” “ I trust the products for my family ” In their own words 7
- 7. 7 Not enough benefitsfor regular customers Lack of features compared to competitors Poor Customer Support & delays in resolution Less Engaging health & wellness content High prices as compared to competitors *Top 5 reasons of repeat customers as per Customer Survey Aug, 2019 48 % 24% 44 % 30 % 18% “ Prices are not discounted” “ Regular medicines feel costly ” “ Refund takes long time and expired medicines are not replaced” “ Competitor provides regular health tips” “ No pill reminder” “ prescriptions are not maintained properly” “do not know when to restock” In own words KeyProblemArea What do they not like about us?
- 8. How big isthe issue ? Our repeat rates of customers & orders 15-20% below the industry average Declining for past 6 months CumulativeMAUs 20 K 40 K 80 K 60 K 100 K 120 K Monthly Active Users* by Cohort Retention rates of our customers Only 6 out of 10 customers continue to purchase in 3 months *Monthly active = at least 1 order in a month *Repeat orders /Repeat active users 0.30 in Q1’19 0.40 in Q3’18 VS *Active repeat user – User with > 1 orders and last order placed in =<6 months 9
- 9.
- 10. 10 Current Active Repeat/TotalMonthly Active User Ratio 45% 60% 40 % Monthly Active Repeat User Ratio Repeat/total Order Ratio Current Repeat/Total orders Ratio 60% 75%25 % Repeat Monthly Active Users Repeat Orders December 2019 Current orders/active returning users in Q1’19* 0.3 Repeat Orders/returning (active) users * 0 . 5 Goals *Active repeat/returning user – returning user with more than 1 orders and last order placed in =<6 months Q4 2019
- 11. 11 Repeat rates ofcustomers wrt orders * New Custome r (signed up) Engaged Customer (>=3 orders in last 3 months) Lapsed Custome r (inactive in last 6 months) 1st order 2nd order 3rd order 1 orders 2 orders 3 orders 3 months 3 months Retention rate % ( Active- atleast 1 order in next 6 months ) 50% 65% 90% 40%55% 80% 80-90 % Retention rate *For indicative analysis only (Based on assumed data) The retention rate (order activity in next 6 months) of our customers is much higher once customer places 3rd order in 3 consecutive months
- 12. Increase Repeat Rates Membership program TrueCare Chatbot assist Medilink Anytimeorder help Free online prescription Reminder & Re-Order On time pills and essentials Vital Personalized content/tips Family Health records Wellness for future CUSTOMER EXPERIENCE CUSTOMER SERVICEVALUE ADD PERSONALIZATION INVESTMENT PROMOTION ENGAGEMENT CONVENIENCE UTILITY
- 13. TrueCare Membership ✔Existing feature– New customizations ✔Package Subscriptions & points per order* ✔Higher Customer Savings & company costs ✔Available with most competitors ✔Already In progress (ETA - Nov 2019) Products for improving repeat rates 13 Reminder + reorder ✔New feature – Dosage Planner, easy reorder ✔Impacts CX, repeat rates & Engagement ✔Available with key competitors & popular Chatbot assist ✔New feature – automated service 24X7 ✔Differentiates Customer Service ✔Not available with most competitors Medilink ✔New feature – free online prescription ✔Impacts Pre-purchase CX & conversion ✔Only available with some competitors Vital ✔New feature – personalized content/tips ✔Impacts Pre-purchase CX & conversion ✔Not available with most competitors Family health records ✔Existing feature – improvements ✔Impacts Pre-purchase CX & conversion ✔Not available with most competitors CUSTOMER EXPERIENCE CUSTOMER SERVICE VALUE ADD * May need further explanation :– Tiered membership with subscriptions Eg – baby care subscriptions, Nutrition/supplements packages & Extra points for 1st , 2nd and 3rd order as per slide 10
- 14. TrueCare Membership ✔Existing feature– New customizations ✔Package Subscriptions & points per order* ✔Higher Customer Savings & company costs ✔Available with most competitors 14 Reminder + reorder ✔New feature – Dosage Planner, easy reorder ✔Impacts CX, repeat rates & Engagement ✔Available with key competitors & popular Chatbot assist ✔Existing feature – automate service 24X7 ✔Differentiates Customer Service ✔Not available with most competitors Medilink ✔New feature – free online prescription ✔Impacts Pre-purchase CX & conversion ✔Only available with some competitors Vital ✔New feature – personalized content/tips ✔Impacts Pre-purchase CX & conversion ✔Not available with most competitors Family health records ✔Existing feature – improvements ✔Impacts Pre-purchase CX & conversion ✔Not available with most competitors Theme A) Enhancing customer satisfaction / service (existing features) Theme B) Introducing value added services / new features for increase in repeat rates * May need further explanation :– Tiered membership with subscriptions Eg – baby care subscriptions, Nutrition/supplements packages & Extra points for 1st , 2nd and 3rd order as per slide 10
- 15. Impact vs Effort PRIORITIZATION * 15 Impact Effort Quick Wins Big Bets Filler s Time Sinks TrueCareMembership Dosage planner (Reminder + easy reorder) Chatbot assist Vital/personalized tips Medilink/online prescription Family health records (improvements) 1. 2. 3. 4. X Contingency plan – to be evaluatedX Deprioritized High Risk/ Low confidence Low Risk/ High confidence *Based on assumptions - need further
- 16. PRIORITIZATION ( 1> 2 > 3 > 4 ) 16 ImpactValue Effort Quick Wins Big Bets Fillers Time Sinks TrueCare Membership Dosage planner (Reminder + easy reorder) Chatbot assist Vital/personalized tips Medilink/online prescription Family health records (improvements) 1. 2. 3. 4. X Contingency plan – to be evaluatedX Deprioritized High Risk/ Low confidence Low Risk/ High confidence
- 17. 17 Q 2 –Q3 MILESTONES MILESTONE Q2 2019 MILESTONE MILESTON E MILESTONE Q4 2019 AUGUST W1 W 2 W 3 W 4 SEPTEMBER W1 W 2 W 3 W 4 OCTOBER W1 W 2 W 3 W 4 NOVEMBE R W1 W 2 W 3 W 4 Current 1. Dosage planner (Reminder + reorder) DECEMBER 2. TrueCare Membership 3. Health records 4. Vital Repeat rate - 60% *Repeat rate - 46% * Repeat rates in terms of Monthly active repeat customers %age Key Timelines Repeat rate - 57% Repeat rate - 50% W1 W 2 W 3 W 4 Q3 2019 Complete rollout Impact validation Minor iterations Contingency plan evaluation Planned Product objectives/themes for Q’2 (Current) - Increasing Checkout conversion rate (P0), Repeat rates Product objectives/themes for Q’3 - Increasing Repeat rates (P0), Improving Search CX
- 18. 18 As a patientwho has to take medicines regularly, I should be able to set my medication plan, input usage & get reminders so that I never miss a pill As a caregiver / doctor of patient, I should be able to set, check & review patient’s dosage plan so I could give feedback & ensure his/her well being As a caregiver (family member, nurse), I should get missed dose notifications & restock reminders with an easy way to restock medication As a patient / caregiver or doctor, I should be able to check & understand the side effects, complications, and interactions of medications Note – Estimations based on Feature - Dosage Planner (Reminders + Reorder) User Stories • Available with key competitor X • Medium Effort (t-shirt size – M) and Low Risk As a patient, I should get missed dose notifications and restock reminders with an easy way to restock the medication Phase 1- MVP Phase 2 TBD • Available with key competitor X • Drive repeat rates • Low Effort (t-shirt size – XS) and Low Risk • Not available with key competitors • Drive engagement, repeat rates from family members • Drive App installs from family members • Low Effort (t-shirt size – XS) low Risk • Not available with key competitors • Drive engagement • Drive App installs • Low Effort (t-shirt size – S) and Medium Risk • Not available with key competitors • Drive engagement, repeat rates from family members & practitioners • High Effort & Risk – to be evaluated o Monthly Active Repeat/Total MAUs – increase by 5 %age pts o Repeat/Total Orders Ratio (monthly) – Increase by 5 %age pts o Repeat Orders/repeat (active) users – increase by .75 pts Objective : To increase Repeat Rates of customers Target Metrics* *Please refer to Slide no 12 for Goals and
- 19. 19 (“Usage” for certain •Entry point 2 – to “My Planner/Overview” screen • Entry point 1 – to “My Planner/Plan” screen Tarun • Entry point 3 - to “My Planner/Plan” screen Entry points to feature Entry point 1 – Order confirmation Entry point 2 – Sidebar menu Entry point 3 – My Orders Wireframes 1/3
- 20. You can addprofiles of family members here Restock alert & Reorder Missed dose marking To Cart/ quick payment page “My Planner/Overview” Screen “My Planner/Plan/ New or Modify Plan” Screen “My Planner/Reorder” Screen “My Planner/Plan” Screen Main Feature Screens*Wireframes 2/3 * Note – Some Design elements/fonts are represented smaller (than ideal) to accommodate more details 19
- 21. Alerts/notification sAlarm Missed dose reminder Featurediscovery notification Wireframes 3/3 Restock reminder
- 22. 22 PRD Review Development + Integrationtesting Testing Controlle d Rollout Launch September 2019 W1 W2 W3 W4 October 2019 W1 W2 Aug 2019 W4 User story 1 User story 1 & 2 • Release to 50 K low , 50 K mid & 50 K high frequency customers in 2 cities • Channels – Android • Bug fixes • Incremental rollout to All customers • Channels –Android + IOS • GTM - Press release + Blog + Emails • Stability monitoring. (ICU mode) • User research & Usage analysis • Demo & Dogfooding • Regression testing • CS training • Channels – Android + IOS • 1 and half Sprints • Development - 50 Man-days • Integration testing – 5 Man-days • UX finalization • Close detailed requirements with Engg. • Alignment with Business Release plan of Dosage planner Release plan
- 23.