QUORA
Devesh Kumar
Prof G Strategy Sprint July 2020
Table of Contents
Competitor Analysis
Stack Overflow
Medium
Quora
Linkedin targets the brain as the best and the brightest people use the platform. Also, it is the best platform to show off your credentials, hence it targets the genitals too.
Reddit has a loyal base that sticks to the platform even though the quality of content isn’t the best. So, it targets the heart. Also, there is a huge influx of context on the platform regularly hence the gut.
Stack Overflow is primarily used by intelligent people to have discussions on academic topics, hence the brain.
Medium is a publisher platform allowing the best content writers to showcase their work. Also, the people that use Medium are considered to be highly intellectual, hence the brain and genitals.
Quora started off with high quality content targeting the brain and genitals, but over time as the quality dipped it has moved to gut and heart due to a small portion of people that are still loyal to it.
Quora Statistics
Quora’s Engagement Statistics
Monthly Active Users : 300 Million
User Demographic : Max users between 18-34 age
54% of Quora users report an annual income greater than $100,000
65% of users have a college degree
Audience geography: Max users from US, India, Canada, UK
Most Popular Topics : Tech and Business
Problems
X Opportunities
Quora’s Problems
Quora’s Opportunities
The T-Algorithm can be applied to Quora to improve the overall product offering as well as create stickiness and establish a monogamous relationship.
Quora needs to revert to its original human instincts of Brain and Genitals while also appealing to the Heart by making the platform more vision oriented, a high quality product and garnering a loyal user base.
T-Algorithm implementation:
Visionary Storytelling
Recommendations
Current Vision : “To Share and Grow the world’s Knowledge” .
It’s essential to have a well defined and aspirational vision in order to build a foundation of growth and success.
The new vision needs to be targeted to 18-34 year old’s to capitalise on the existing demographic and create a loyal user base.
This refined vision will grant access to new capital and strategic partnerships. It will also help in setting the foundation for establishing a successful Rundle.
The new Vision should help in setting up a Knowledge Hub for the targeted demographic.
Benjamin Button
(Network Effects)
Network Effects
Network effects is a method to increase value with every user and usage of the product.
Quora already uses network effects to:
Competitor Example:
Linkedin users benefit from network effects by increasing their connections and also by getting recommended jobs based on their interests and past behavior. It also uses it to drive its Insights platform.
Recommendations
To take the recommendations engine up a notch, a new feature can be created to improve the user experience.
Personalised Newsletters
Acquisitions : Morning Brew
Using the expertise of Morning Brew’s newsletters and combining it with Quora’s Network Effects, a customised newsletter can be sent to the users on mail everyday. The customization will be based on the user’s past behavior on the site and subsequently only the relevant news content will be sent in the newsletter. Since this is a personalised experience, it will help in user retention, making them want to use Quora more.
Personalised Newsletter
Vertical Integration
x
Growth
Vertical Integration and Growth
As Quora grew, it encountered the supply demand problem of questions and answers. The demand for answers increased but the supply of questions reduced. In order to counter this, they rolled out the Quora Partner Program to pay users to post relevant questions. However this resulted in an increase of questions at the expense of quality and hence, the quality of content on Quora dipped. This caused a number of high value users to migrate to alternative platforms
Recommendations
In order to increase growth while maintaining quality, Quora needs to take a leaf out of Medium’s book.
Quora will need to backward integrate to start creating its own content.
Collaborating with content writers and industry experts to curate articles for Quora, it will act as a publishing platform for these writers.
This will be essential in revitalizing Quora’s content quality and also in driving new high intent organic and referral traffic onto the website. This will be congruent with Quora’s vision to share and grow knowledge.
Rundle
(Recurring Revenue Bundle)
Recommendations (1 / 3)
A marketing and business insights tool will be established for subscribers that will help them in taking data driven decisions.
This will be Quora’s attempt at providing insights to budding entrepreneurs that will make Quora more useful for its customers and compelling enough to form monogamous relationships. It will enable users to collect data and analyse it using views similar to Tableau.
This will also be mobile optimised to help users get access to data on the go, hence improving the overall experience.
Data Insights Tool
Recommendations (2 / 3)
Quora can partner with industry experts to curate courses for its community. This tool will be similar to Linkedin Learning.
Quora can invest in creating a digital library containing educational courses and content which can only be accessed by subscriptions.
These courses will be in the form of videos that comprise helpful content on business tools and general marketing and technology concepts. This will be an essential feature that the users can use to upskill.
Digital Upskill Library
Recommendations (3 / 3)
Put a ring on it!
The complete Rundle will be a culmination of vertical integration, Network effects, Growth driven content and New product development.
A monthly subscription gives the user access to:
These features will establish a monogamy and increase user stickiness.
Likeability
Recommendations
Quora used to be a very liked product during its initial days. However, its recent trajectory towards increasing questions at the expense of low quality content seemed to have backfired.
Using the Rundle model as well as adding newer products to its ecosystem, it should see a rise in popularity again and have a loyal user base.
Also, it will be recommended that the core Quora team take efforts in establishing the brand as likeable by engaging with the users on social media, Quora included. This will help in making the brand feel more personal and truly Social.
Revenue Model
Lorem Ipsum
Lorem Ipsum
Lorem Ipsum
Revenue
Lorem Ipsum
Free
Monthly Subscription
Revenue
Rundle
Free for Users
Contextual Ads
Revenue streams:
Appendix
T-Algorithm Grid
Investment Grid
Fin