#1 Understanding the Orbit and its Origin
#1.1 About Orbit
Orbit is a strategic move to evolve CARS24 from a transactional marketplace to a holistic automotive solutions provider. It's about building deeper relationships with their customers, unlocking new revenue opportunities, strengthening their competitive position, and laying the foundation for future growth and expansion in the broader automotive ecosystem. They believe that by simplifying car ownership, they can become an indispensable partner for every car owner in India and eventually, globally.
#1.2 Why cars 24 introduced Orbit
Enhance Customer Loyalty and Retention:
Moving Beyond Transactions: Our core business has always been transactional – buying and selling cars. While successful, this model leaves room for customer churn after a transaction is complete. Orbit aims to build a continuous relationship with car owners, making CARS24 an indispensable part of their ownership journey, not just a point of sale.
Increasing Stickiness:
By offering a suite of valuable, free services like challan tracking, document management, and resale insights, we aim to make the CARS24 app the go-to platform for all car-related needs. This increases user engagement and reduces the likelihood of customers looking elsewhere for these services. Think of it as building a "sticky" ecosystem around our core offerings.
Building Trust and Credibility:
By providing helpful and reliable information and services, we aim to build stronger trust and credibility with our users. This is crucial in the pre-owned car market, where trust is a significant factor.
Attracting New Users
The utility of Orbit's features can attract new users to the CARS24 platform, even if they are not immediately looking to buy or sell a car. This expands our potential customer base.
#1.3 Assumed Business Goals
Unlock New Revenue Streams and Business Opportunities:
Insurance and Warranty Upselling:
Orbit provides a natural platform to offer and cross-sell insurance and extended warranty packages. By having all car details readily available, we can offer more personalized and timely recommendations.
Financial Services Expansion
With loan tracking and EMI management features, Orbit can act as a funnel for refinancing opportunities and potentially other financial products related to car ownership in the future.
Service and Maintenance Ecosystem
While currently offering limited services like on-demand drivers and car scrapping, Orbit lays the groundwork for potentially integrating more comprehensive service and maintenance offerings in the future, either directly or through partnerships.
Data Monetization
The data generated through Orbit, when anonymized and aggregated, can provide valuable insights into car ownership trends, user behavior, and vehicle lifecycles. This data can be leveraged for internal strategic decision-making and potentially offered as insights to OEMs or other players in the automotive ecosystem.
#1.4 Assumed Problems, Business Faced Around Orbit Usage
While initial interest in Orbit was there, the key challenge was in providing enough sustained value and a seamless user experience to drive regular, habitual usage across the various features. This data directly informed our subsequent strategies focused on improving user engagement, feature depth, and overall user experience within Orbit.
1) Low Feature Adoption Rate
2) Negative Qualitative Feedback and Low Feature Ratings
3) Low DAU and MAU
#1.5 What business want to achieve?
Higher user engagement & retention Growth in Average Session Duration and Feature Interaction Time to #2 Understanding User Behaviour
Interviewed 2 people working in the IT industry, going 3-5 days every week. Based on the insights I received, did this journey mapping
Customer Journey mapping
For better readability, use the below Link:
User Current Behaviour
#3 Problem Identified
Why people don’t want to migrate to other apps
#4 Ideations
How we can get users on our app
How a one-stop shop can work
How Rewards can work
How the Referral Program can work
Flow for Reward and Referral Program
How we can offer Brand Deals in the Reward Program
What we can fix in the current design
#5 Design Solutioning
For Home Page Issues, where solved for
- UX issues in the current app
- Rewards and Incentives
- One-stop shop, where multiple services can be availed
For the Reward program
#6 Measuring Success
Product Metrics:
Reward Program: Enrollment Rate, Redemption Rate, Reward Points Earned/Spent, Impact on Service Usage, Referral Conversion Rate. One-Stop Shop: Number of Users, Services Used per User, Conversion Rates (within the shop). Referral Program: Referrals Sent, New Users from Referrals. Touchpoints: Engagement per Channel, Conversion Attribution. UX Metrics
Task Success Rate, Time to Complete Tasks, User Satisfaction (CSAT/NPS), User Error Rate, Navigation Patterns. #7 Things that can be done
With more relevant user insight and data points, we can come up with more feature ideas and problems in the existing system. With a Detailed User behaviour study, we can identify more touchpoints where we can introduce services and rewards they can earn via it. Conclusion
This complete solution is based primarily on Insight received from 2 people and informed assumptions.
Thanks for reading. :)