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Product ROI

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Product

The sales and operations departments wanted to provide clients with solid Return on Investment (ROI) metrics for a new business line and product offering launched the prior year. The product team had conducted research previously, but was blocked by the lack of data.

My Role

  • Reviewed past research and competitor research. First, I reviewed all the historical research done on ROI for the line of business. I also researched our product's competitors and what ROI data they had publicly available.

  • Led strategy development for ROI. I led a team of senior-level stakeholders to conceptualize how we could best understand our product's ROI while also understanding the employee's relationship with their employer, which would impact our product's ROI.

Challenges & Achievements

Challenges

  • Competitors' unsupported data. The competitors promoted extremely high ROI stats (i.e. 70% increase in retention) with their products. However, very few had sources for that data (at least publicly).

  • Sales wanted it yesterday. To do their job selling more effectively, the Sales team, naturally, wanted results yesterday. It takes some time to generate data especially when you are relying on users to answer questions about their experiences with the product.

  • Emailed surveys had too many questions. After certain interactions with the product, users were getting triggered emailed surveys with an excessive number of questions. As a result, the response rate was abysmal.

Achievements

  • Standardized, short survey. Having conducted extensive user testing in my past work, and in reviewing best practices of surveys done within web applications (or "in-app"), I knew we had to keep the survey short and the UX/UI simple. I convinced the Sales and Operations team that we needed to limit the survey to just 4 questions - to get a solid response rate and worthwhile data.

  • Survey placement in-app. Placement of this survey within the user's experience was key. Working with the design and product team, we decided on putting the survey questions on a webpage right after a video call with a team member concludes.

  • 51% increase in response rates. Immediately after the release, the in-app survey response rates (61%) far surpassed the emailed surveys (10%). The data was easy to analyze - I was able to help start building the product's full ROI picture. The Sales, Operations, and Data teams were pleased with my features and the resulting data.

  • Potential for increased sales. Having solid data behind our product's ROI puts the company in a better position compared to our competitors.