Udacity

Udacity

• 1.
  UDACITY A case study By SpurthiPeddisetty (resume)
• 2.
  Analyze what arethe good things about Udacity currently from Product perspective ● Nano Degree is the unique proposition: Learn only what is needed for a specialization. ● Well designed course finder: Filtering by category, type, skill level ● Course content created by experienced practitioners from Industry leaders like Google. This results in: ○ High Quality course content which covers practical aspects of learning. ○ Good Brand Strategy by partnering with Industry Leaders. ● Personalized Mentoring ● Career services by partnering with Industry Leaders. ● Good Assembly of Instructional Content, Quizzes to reinforce the learning, Concepts and Summary. ● Free trial of 3 days contributes to customer acquisition. ● Freemium Model: Free courses are available. ● Targeted and Tailored for both Business and individuals. ● Choice to the customer between nano degree and short term courses ● Discussion Forums for collaboration between learners. ● Single step signup results a low drop off.
• 3.
  What can beimproved? And how? ● Ability to make notes as course is going on and linking it to the point in the video. ● Discussion forums have a lot of good insights (eg. One question had 1058 answers). Surface the key insights ● Udacity being Global product, it should use translation services to extend the courses in other languages. ● The website navigation and usability has a scope for improvement. Following are some key ones: ○ No clarity on navigating back from Classroom page ○ Availability of the % course approx time completion on the classroom page ○ Restart at the same time on re-login where it has stopped ○ Redirection to course page directly from enrollment page
• 4.
  What other newideas will you bring in if you were the product manager of Udacity? No Features Work stream Metric Improved Priority 1 Share Achievements on Social Platforms Customer Experience New customers acquired P0 2 Retargeting -Analytics Platform for Udacity Marketers Activation DAU (Daily Active users) P0 3 Course Recommender Customer Experience No.of registered courses P1 4 Industry target courses: Monetisation ARPU(Average revenue per user) P2 5 Peer learning Platform Customer Engagement DAU (Daily Active users) P2 6 Credit availability for performing students Acquisition Course completion rates P1 7 Gamification: Grading and leader board position Customer Experience DAU (Daily Active users) P3 8 Chatbot Enabled Interactive Discussion Forum Customer Experience DAU (Daily Active users) P3 9 Expansion Beyond Computer Science towards emerging fields e.g. Nanotechnology Market Expansion New customers acquired P2
• 5.
  I have explainedthese features in this Document. I have considered the Top Four prioritised features for ROI calculation in the following slides.
• 6.
  Try to quantifythe ROI of each idea/improvement you suggest? I am making the following Assumptions for this question: ● All technical resources are already available in the organisation ● ROI calculation for all the features is the based on the guess-timates made ● Guesstimates are made on the following conversion funnel ○ Udacity Customer Base: 1.6 million (reference) ○ Monthly active users: 0.16 million ○ Number of students complete course every month (⅓ active users): 0.05 million ○ Number of customer exploring Nano degree courses: 10000 students ○ Number of course registration happen per month : 0.05 million ○ Average course fee :Rs.50, 000
• 7.
  Share Achievements onSocial Platforms Investment: ● Development Effort: 2 Man days ● Total Investment: Rs. 30, 000 Returns ● Customer Base :1.6 million, Current Active users: 0.05 million users complete course every month ● Every one in five would share in the network ● Every 1 in 10 shares result in the conversion of sign up ● Every 1 in 10 new sign ups take a paid course ● This leads us to around 100 new paid customers who have subscribed to a course. ● Assuming an average course fee of Rs.50,000 per course, the resultant revenue is: ● Revenue = 100 * 50,000 = Rs.50,00,000
• 8.
  Retargeting Investment ● Man Effortfor the development: 1 Man Month ● Investment : Rs.4,50,000 Returns ● Customer Base :1.6 million. ● No.of customer exploring to do course in Udacity per month : 10000 * ● On retargeting 1 in 10 would lead to conversion : 1000 new course ● 50 in 1000 would be paid ,hence revenue =50 *50,000 =Rs.25,00,000 per month
• 9.
  Course Recommender Investment ● ManEffort for the development: 1 Months ● Investment : Rs.4,50,000 Returns ● Customer Base is :1.6 million ● No.of active users:0.16 million per month ● 25 % increase in course registrations in this 1/10th would be paid courses. ● Total revenue increase would be :Rs. 6,25,00,000
• 10.
  Credit availability forperforming students Investment ● Development Effort: 10 man days ● Amount spent on the Student on star performance per Nano degree for top 10% in the course ● 1000 Students per month :Rs.1,00,000 per student per year ● 50 % of them get placed ,placement commission from Industry leaders will be equal to 1 month salary ,i.e 2,00,000 per user (Hence Break even on investment on Student) ● Investment: Rs 1,50,000 Returns ● It would improve no.of students for paid courses (by 10%) and increase in performance as well. ● Increase in 100 students signup for Nanodegree per month .Revenue is Rs.50,000 per user ● Total Revenue =Rs.50,00,000 per month
• 11.
  Mention any lowhanging items which can be put to market very quickly Feature Implementation Social share https://www.addthis.com/get/share(Can be easily implemeted in house as well) Credit availability for performing students Can be easily implemented Retargeting Can use Amazon Redshift -Data Warehousing solution to fast track delivery Course Recommender Can use Google Cloud Platform for Recommendation Engine to fast track delivery
• 12.
  THANK YOU. spurthi.peddisetty@gmail.com