Recruitment Asssignment
MyValue Case Study
October�2022
MYVALUE CASE STUDY
MyValue is planning to add some brand new products or features into its platform, they are:
Questions
Q1. Which of these 3 products/features do you believe would benefit both MyValue and its customers? Please explain how you come into the decision and how we should prioritize them.
Q2. Do you have any ideas what could be added into MyValue platform beyond the mentioned list above? Please let us know your reasoning and how would the features work?
Q3. How would you explain what product management is to a 5-year-old?
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DISCLAMER
Generally speaking I believe all of the three plans would give benefits for both parties depended on how we apply it.
However to be specific it’s also depends on what kind of benefit we want to gain. Let’s assume that we’re talking about financial benefit.
In that case, I also need to know about what the goals of creating MyValue are; what the purposes of creating MyValue are. This is needed to make us focus on the goals created and how we’re going to take this program further.
In order to know that, I reviewed MyValue through their Official Website and Playstore Page. The conlusion would be shown in the next slides:
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WHAT IS MYVALUE?
Overall, MyValue is an loyalty program delivered thorugh an app.
The main goal of loyalty program is usually is to increase retention rate. In MyValue case, the retention rate is most likely the purchase of items offered in the app. The items in the app is formed as exclusive gifts for loyal customers.
MyValue is Giving reward to Kompas Gramedia Customers such as:
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WHAT IS MYVALUE? (cont.)
To use the point as one of the benefits is typically easy. There were also a lot of additional benefits. They also partered with a lot of brands in which they gift or provide the brands’ vouchers to be used by their customers.
It also shown that they are open for partners that are want to to join. Their current partners are wide in range of products. From tangible to intangible products, from foods to entertainment, from events to hotels, the products are vary.
in this case, the loyalty program offered would fit to people with mid-upper class lifestyle.
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Q1. Which of The 3 Featrues That I Believe Would Benefit Both Customers and MyValue? My Fast Personal Review
If I look at the case as what it’s shown without any further deep research, I would prioritize the plan based on Effort and Impact.
At first sight, I will prioritize the plan as written in the next slide. Since it’s prioritized by effort impact, note that it invloved consideration of time needed to finish the features.
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Q1. Which of The 3 Featrues That I Believe Would Benefit Both Customers and MyValue? My Fast Personal Review
Plan Priorizitation:
Every point will be exlained by the next slides.
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Q1. New Payment Methods
I believe adding payment methods will increase revenue. This thought came from what I saw after reviewing the product from its website and playsotre page.
Let’s assume that the pricing was done effectively. As I saw the information about MyValue I considered the highest revenue would likely comes from the voucher sales.
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Q1. New Payment Methods (cont.)
Which means the revenue comes moslty by sales from B2C. Therefore adding new payment methods would widen the range of payment options which are not covered before. It allows MyValue to covers more possibilities of ‘where customers store their money’.
In addition, nowadays there are more and more e-wallets and digital banking apps.
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Q1. New Payment Methods (cont.)
With that thoughts, adding new payment methods will help increase sales by increasing flexibility and easier ways to purchase items for customers.
I considered this plan have the highest impact and lower effort feature.
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Q1. Subscriptions
As good as assuming that sales is most likely the highest revenue stream of MyValue, I have no information to guarantee that the B2C customers would pay for subscriptions fee in order to get vouchers regularly.
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Q1. Subscriptions (cont.)
Let’s assume that the data shows that the highest spender customers are those who purchase vouchers regularly. Therefore, this features would likely increase revenue.
But we also have to think about the variety of vouchers that they are interersted in.
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Q1. Subscriptions (cont.)
If the variety of vouchers they interested in are as wide as earth, it’s gonna take a lot of time in planning and strategizing this plan (business wise), even if the doubt of interest in this features are erased by strong data analytics result.
Therefore I considered this plan as higher effort and lower impact feature.
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Q1. MyValue as SaaS
It seems that MyValue want to add B2B in their business orientation. This plan has no detailed information about how it would be executed.
Due to lack of information, I would make assumptions. My assumptiont is this plan was only in ideation phase.
Due to my assumptions, I considered this plan as the highest effort and lowest impact feature. I have several concern about this plan.
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Q1. MyValue as SaaS (cont.) – concern about this plan
How the App Would be Built?
Let’s assume that the app have only one setting and can not be customized. Therfore the effort to develop the app would be less. But is it possible to give the customers uncustomized app? I don’t think so.
How about semi-customized app that customers can choose what features to use and what’s not? I am afraid that would be able to cover every needs of customers. How about simpler issue as the UIUX?
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Q1. MyValue as SaaS (cont.) – concern about this plan
a) How the App Would be Built? (cont.)
I believe every business has their own unique formula to create loyalty programs. It’s needed to differs itself from its competitor. And the app, as the platform, would created to carry those programs.
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Q1. MyValue as SaaS (cont.) – concern about this plan
a) How the App Would be Built? (cont.)
Let’s say MyValue created templated App for ther customers to use. Are their customers will use the same loyalty program formula as MyValue has?
If customers using the same loyalty program formula as MyValue has, that would make MyValue lose its own Value Proposition that differs itself from the other.
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Q1. MyValue as SaaS (cont.) – concern about this plan
a) How the App Would be Built? (cont.)
Not only the features that carry the program formula, as simpler as its UIUX, if the app is templated and used by other businesses, it’s gonna be losing it’s uniqueness.
People love to feel exclusive. They even hate to see person that use the same shirt as theirs.
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Q1. MyValue as SaaS (cont.) – concern about this plan
b) How is the Market would likely to Response?
This step right here is important to assess if the product would have a good response after it’s released. If it’s not worth it, not profitable and marketable, we better forget this plan. Let alone the issue about how the app would be built.
How about we focuse on facilitating our B2C customers by giving better programs and experience to increase retention rate?
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Q2. Do I have Any Ideas What Could Be Added Into MyValue?
In order to have proper ideas, in terms of the platform, I first needed to experience the platform (app) itself. Unfortunately, I have no experience in using the app and there is no time to gain the experience.
I will try to gain any idea by judging the app by viewing existing users feedback and information provided about the app. But, when I was looking through the app page in GooglePlay and Appstore, they only allowed users to to view around 5 – 7 recent/most relevant reviews.
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Q2. Do I have Any Ideas What Could Be Added Into MyValue? (cont.)
So for now, I will only focus on what I can view. I downloaded the app and it allowed us to explore tha app without registering first. This flexibility is a plus. However, why the splash screen is taking too long on my screen?
What I can suggest after fast reviewing the app will be written in the next slides.
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Q2. Do I have Any Ideas What Could Be Added Into MyValue? (cont.) – what i can suggest
What I can suggest after fast reviewing the app without registering
First is to adress the issue of why the splash screen was taking too long in which indicate that the app is taking too much time to load. This can cause users to cancel opening the app.
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Q2. Do I have Any Ideas What Could Be Added Into MyValue? (cont.) – what i can suggest
What I can suggest after fast reviewing the app without registering (cont.)
Another suggestion I can give is to fix the UI in the page of every Bacaan articles. To me the text is not written neatly. It’s overwhelming.
I suggest to make the text aligned justify and set the space, point, header, and body accordingly. Overall, just make the text neater to be more comfortable to read since it’s also a very long text.
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Q2. Do I have Any Ideas What Could Be Added Into MyValue? (cont.) – what i can suggest
What I can suggest after fast reviewing the app without registering (cont.) – About the Bacaan
After a short view about the Bacaan feature, I now doubt the performance of this features.
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Q2. Do I have Any Ideas What Could Be Added Into MyValue? (cont.) – what i can suggest
What I can suggest after fast reviewing the app without registering (cont.) – About the Bacaan
If I were to judge fast this feature is too questionable that I wanted to remove it. However it is better to re-assess this feature before coming into decisions.
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Q2. Do I have Any Ideas What Could Be Added Into MyValue? (cont.) – what i can suggest
What I can suggest after fast reviewing the app without registering (cont.) – About UIUX
There was also a complaint about how confusing the app was for him as a users. Since I can not access all features due to unregistered use, I can not judge the whole UIUX of the product.
I also could’nt view all the critical reviews in MyValue page. If there is indeed a lot of complaints about the UIUX, it is worth to assess.
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Q2. Do I have Any Ideas What Could Be Added Into MyValue? (cont.) – what i can suggest
The rating of MyValue app is already high due to its loyalty programs because from what I saw, the good UIUX was just a plus. However as a PM we can not deny a complaint right away. We have to keep improving for better user experience.
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Q3. How Would I Explain What Product Management Is To a 5-year-old?
I would explain it according to learning style of the kiddos. Let’s make an example: the kid was an audio learning type. In that case I will explain to them verbally. After that I will overview the kid’s hobby to explain PM through their interest.
Let’s say the kid’s hobby is baking for her Dad. Now let’s assume a 5 year old kid unexpectedly out of nowhere was asking about what PM is. I would likely to explain to them as will be shown in the next slides.
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Q3. How Would I Explain What Product Management Is To a 5-year-old? (cont.) – how i would explain it
“Product Management is like baking a cake for your Dad. You ask your Dad how he wants his cake to look like, what flavor of the cake he likes, how big the size is, everything.
And then you make the cake and give it to your Dad to taste it and ask him if you made the cake correct according to his likings.. –”
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Q3. How Would I Explain What Product Management Is To a 5-year-old? (cont.) – how i would explain it
“ – Things he doesn’t like about the cake, you will note that and fix that for the next baking.
Things he does like about the cake, you will keep them that way. You will also listen to your Dad request about the cake if he wanted additional things to be added to the cake such as decoration using sprinkles, new cake flavors, or else.
In that way, you will keep learning and improving your baking skill to meet your Dad likings and keep your Dad to only eat cake made by you.”
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THAT’S A WRAP ☺!
Laras Nurul Fazria
Phone:
0895-2910-2463
Email:
f.larasnurul@gmail.com
Thank you for your time!