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01 RedBus Product Offerings
02 Transaction Funnel - Key Metrics
AgendaWhat we'll discuss about RedBus
03 User Segments
04 Redbus Checkout Funnel
05New features/growth strategies &metrics to measure success
06 Major Challenges
RedBus Product OfferingsServices offered by RedBus in India
Bus Hire
Rent bus based onpassenger capacity. Live Bus tracking featureProfessionally verifieddrivers
rPool (Ride Sharing)
Present in metros, suchas Bangalore, Chennai,Pune, Delhi etc.Corporate and personaluse
Intercity Bus Rides
10000+ busesOffers bus rides betweendifferent cities. Live Bus tracking featureMobile ticket options
Question 1Identify at least 3 key metrics for RedBus that you, as a Growth PM, would monitor actively inorder to improve its transactional funnel? Also, provide relevant reasons for consideringthese metrics.
Helps to track where customers get stuck and don'tproceed or convert. These data can be used to optimisethe pages to reduce drop offs.
Conversion Rate
This helps identify with platform performs well forwhich product. Those data can be used to capitalise onright platform or product for optimum results.
Bookings by platform/product
The total revenue from the bookings successfully madeexcluding the cancellations. This gives ratio betweensuccessful and canceled bookings.
Materialised Revenue
This gives an idea as to how loyal customers are.Frequent transactions from repeat users will helpreduce customer acquisition cost.
Repeat Purchase Ratio
Transaction Funnel - Key Metrics
Question 2Which of the 3 user segments could be the most valuable for achieving your businessobjective? Explain your reasons behind selecting these segments.
Age group 18 -40Users in Metro & Tier 1 Cities Users in Tier 2 & 3 CitiesUsers working away from hometownUsers who cannot afford air travel
Demographic
Tech Savvy users Users that travel more than once a monthUsers that book only during offersUsers who live in a different city than theirhometown
Psychographic
First time bus ticket booking users Offline tickets booked by usersUsers that book multiple tickets in one transactionUsers booking for family or friends
Behavioural
Users who are specific on the brand of busUsers who book add ons such as insurance etc. Users who wait and book during last minute deals
Technical Categories
User Segments
1. Landing Page/Home page
This is the page the user first visits. data analyticsand session starts from this page.
2. Search bar Activation
The user searches for bus routes for travel.Thesearch bar has to be prominent for the user to findand perform search.
3. Search Results/ Listing page
Once the origin, destination and dates are entered, matching bus routes are displayed in a listing page.
4. Bus Seat selection
User selects a particular bus listing and thenproceeds to select the seat.
5. Pick Up & Drop Off
Post seat selection, user provides the pick up anddrop off points.
6. Passengers details
This is where all the passenger details are entered. Allrelevant information from the user are collected atthis stage.
Landing Page/Home page
Search bar Activation
Search Results/ Listing page
Bus Seat selection
Pick Up & Drop Off
Passengersdetails
Payment 7. Payment
This is the final stage of the funnel where the usermakes payment and checkout.
Question 3B Which 4-5 cuts or parameters would you use in order to monitor this funnel on a daily basis?
1. Type of Channels for incoming traffic
Getting traffic details across all marketing campaigns. This helps analysis which campaign is most effective at converting users.
2. Types of operating platforms
Traffic should be segregated by platform types such as, iOS, Android, Web browser, Operating system etc.
3. Category of products
RedBus has 3 product offerings. Traffic and metrics must be analysed across these product categories to determine which category is mostprofitable for RedBus.
4. Marketing campaign periods
Analysing marketing periods helps to find out during which campaign or period marketing was most effective at acquiring customers.
5. Popular destination/routes
Based on the bookings made, it will be beneficial to find out which route is most popular and those routes can be further optimised for fastercheckout.
6. New vs repeat customers
Segregation between the type of customers helps to understand how the user transacts with RedBus which in turn will help the team toimprove the CAC and LTV of the customers.
7. Popular payment methods
After identifying the most popular payment method, those can be placed higher in the screen and can be made easily accessible to users.
8. Average revenue per seat
This helps estimate the APRU and the overall performance.
Question 4ASuggest at least 2 new features and 2 growth strategies that can help RedBus increase thenumber of transactions?
NewFeaturesNew features proposed forRedBus
Rather than getting notifications on all others platformssuch as email/SMS, sometimes its convenient to have inapp notifications all in one place for easy reference.
In App notifications
A compilation of rules and regulations across states canbe made available at the time of booking so users neednot exit the app to check COVID travel restrictions.
COVID regulations for bus routes
Reserving a seat for a small premium would help userswho are not sure about their travel dates. This flexibilityenhances loyalty to RedBus.
Seat Reservation
GrowthStrategiesGrowth strategies proposed forRedBus
Strategic partnership with brands creates a win-winsituation for both parties involved. E.g. partnering withPayTm or Amazon Pay will encourage users to makepayments in their preferred payment methods therebyimproving brand visibility and gaining traction.
Partnership with brands
Many people travel for pilgrimage purpose and itsconvenient to have a travel package catering their needs.This will boost the engagement and also revenue.
Pilgrimage travel packages
This is a marketing strategy that can be implemented tomake users stick to the platform. Users must beincentivised appropriately and also encouraged to getmembership for premium benefits. This will improveretention and increase engagement.
Loyalty Programs
Question 4B What are the metrics that you would use in order to measure the success of these featuresand strategies? Also, provide reasons behind choosing these metrics.
Metrics forNew Features
This can be used to track to check if users are viewingthe covid regulations and if its beneficial for themwhile making a booking.
CTA/CTR/Bounce rate
This metric provides details about the number of seatreserved and conversations.
Reserve seat bookings/Seat Refunds
This metric gives insights as to how useful live trackingfeature is and are people really using the feature totrack the location.
Live tracking Session duration
Metrics forGrowth strategies
To understand if the new travel category is beneficialfor users and are people using it for their pilgrimagebookings.
Bookings/CTA clicks/Drop offs
To determine how loyal existing users are and howthey compare to new users.
NPS/Member vs Non Memberbookings/Referral invites sent
To identify which promotional channel attracts mosttraffic and most effective at converting userssuccessfully.
Promocode tracking/Referral traffic
Question 5According to you, what are the major challenges that RedBus could face in the next 12-24months?
Major ChallengesNew challenges for RedBus in near future
Due to the pandemic, eachstate and city have respectiverules and regulations to befollowed. And mainly due tosocial distancing, the overallcapacity of passenger loaddecreases which will adverselyimpact the revenue andeconomics of scale.
Many people who are aged ornot tech savvy still prefer tobook offline. Large bus brandsoften tend to have directrelationships with their loyalcustomers encouraging themto book tickets offline. This willhamper the growth and affectrevenue in long term forRedBus.
Other bigger players such asYatra, Make My Trip, Goibibohave got onto the bandwagonof online bus booking takinggiant share from the currentmarket. Bus travel is a highlycompetitive market andcustomers are price sensitive.
Covid Protocols Offline Bookings Threat from Bigger Players