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ICP Identification

​JTBD Framework:

ICP 1:

In this case, Jhanvi does weekly purchase of new clothes from Souled store. Her primary objective of doing so is a) Personal Goal: To look good/presentable and makes her feel happy b) Social Goal: Impress her friends/boy friend etc. and showing off to the crowd that Jhanvi is very presentable and is upto date with latest fashion trends.

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ICP 2:

Tanuj uses Souled store to collect/purchase his favourite/one time collections like Hardik pandya collection in this case. His primary objective here being:

a) Personal Goal: He does this for his appreciation for that art/content/sports/music/pop culture etc.

b) Social Goal: He also does this to showcase himself as trend setter in office and his friends after work and on weekends.

ICP 3:

Rehman is not a self-shopper himself but likes to purchase clothes for his son both online and offline. His son from time to time keeps demanding cartoon T-shirts, trousers, jackets and Rehman obliges to him to make him happy.

a) Social Goal: This is primary goal for Rehman as he wants to keep his child/family happy and also to showcase his care towards them

b) Personal Goal: Providing required things to his kid makes him happy and content that he is giving/providing/looking after his family well.​

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Onboarding Flow Teardown:

<The Souled Store Online & Offline Onboarding Flow | Slides>

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Activation Metrics:

Hypothesis1:

Activation Metric:

One transaction in 30 days

Primary objective of this D2C brand is revenue and primary revenue source is from purchase of goods and minimal purchase from membership subscription. Hence, at least one customer order in 30days window.

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Metrics to track:

1) Acquisition source: CAC, HP Visitor to Product page Landing, Product page to conversion %, ROAS, CPA

2) Quantum of Product page visits, HP page visits

3) Add to cart/Add to wishlist quantum

4) Day to Conversion (Ex: Acquired on Day 0, Opened App on Day X, Product page on Day Y and Purchased on Day Z)

5) Customer Funnel => Users Installed App -> Users Opened App -> Users opened category Page -> Users opened Product page -> Users Added to cart/Wishlisted -> PG page opened -> Purchased

6) Number of Shares of product done

7) Number of Referrals

8) User Cohort ( New, Repeat (Last Month New, Last Month Repeat, Last Month Reactivated) , Reactivated (Dormant 1+M, Dormant 2+M, Dormant 3+M, Dormant 6+M etc.)

9) Retention rates %

10) Monthly Active Transacting users/Annual Active Transacting users (Ex: Unique transacting months - 11, Annual - 1, hence MATU/AATU = 11)

11) Product Reviews

12) Order Delivery TAT

13) SMS Parsed data - Customer transacting on which all platforms basis permission taken by us

14) Social media interaction with our product on social channels - Tweet, Insta posts etc.

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Hypothesis2:

Activation Metric:

GMV > 2000 in 30 days

Primary objective of this D2C brand is revenue and users contributing at least 3 SKUs purchase revenue are good users (Ex: AOV is 699, hence GMV would be around 2100)

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Metrics to track:

1) AOV of the order

2) GMV per month, quarter, half year and yearly

3) Products per order frequency

4) Product Reviews

5) Order Delivery TAT

6) Acquisition source: CAC, HP Visitor to Product page Landing, Product page to conversion %, ROAS, CPA

7) Number of Referrals

8) User Cohort ( New, Repeat (Last Month New, Last Month Repeat, Last Month Reactivated) , Reactivated (Dormant 1+M, Dormant 2+M, Dormant 3+M, Dormant 6+M etc.)

9) Retention rates %

10) Monthly Active Transacting users/Annual Active Transacting users (Ex: Unique transacting months - 11, Annual - 1, hence MATU/AATU = 11)

11) SMS Parsed data - Customer transacting on which all platforms basis permission taken by us

12) Social media interaction with our product on social channels - Tweet, Insta posts etc.

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Hypothesis 3:

Activation Metric:

GMV > 5000 in 90 days

These would be either premium customers or repeat customers, we would want to build on both of them to better Order Frequency (WOM, Usage, Group shopping) and Premium range to better company's EBITDA/PnL

Metrics to track:

1) AOV of the order

2) GMV per month, quarter, half year and yearly

3) Products per order frequency

4) Product Reviews

5) Order Delivery TAT

6) Acquisition source: CAC, HP Visitor to Product page Landing, Product page to conversion %, ROAS, CPA

7) Number of Referrals

8) User Cohort ( New, Repeat (Last Month New, Last Month Repeat, Last Month Reactivated) , Reactivated (Dormant 1+M, Dormant 2+M, Dormant 3+M, Dormant 6+M etc.)

9) Retention rates %

10) Monthly Active Transacting users/Annual Active Transacting users (Ex: Unique transacting months - 11, Annual - 1, hence MATU/AATU = 11)

11) SMS Parsed data - Customer transacting on which all platforms basis permission taken by us

12) Social media interaction with our product on social channels - Tweet, Insta posts etc.

13) Number of different ranges shopped

14) Number of Genders shopped (men, women, Kids, Accessories)

15) Offline Vs Online Range and GMV distribution if any

16) Online Vs Offline Retention rates

17) Offline Center/Store shopped from: Placement of Shop to determine audience demography (Income, Age group etc.)

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Hypothesis 4:

Activation Metric:

5+ Add to Cart/Add to Wishlist in 30 days

These would be users would be spending time on the platform, going through the selection and may or may not have purchased any of our SKUs. But this cohort or activation metric would show strong intent of purchase or need for these categories/products.

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Metrics to Track:

1) Acquisition source: CAC, HP Visitor to Product page Landing, Product page to ATC/ATW

2) Quantum of Product page visits, HP page visits

3) Add to cart/Add to wishlist quantum

4) Day to Add to Cart/Add to Wishlist (Ex: Acquired on Day 0, Opened App on Day X, Product page on Day Y and ATC/ATW on Day Z)

5) Customer Funnel => Users Installed App -> Users Opened App -> Users opened category Page -> Users opened Product page -> Users Added to cart/Wishlisted

6) Number of Shares of product done

7) SMS Parsed data - Customer transacting on which all platforms basis permission taken by us

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Hypothesis 5:

Activation Metric:

5+ Transactions in 180 Days

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This metric highlights majorly 2 things:

a) Repeat rates/Retention across months

b) GMV contribution due to multiple transactions​

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Metrics to track:

1) Acquisition source: CAC, HP Visitor to Product page Landing, Product page to conversion %, ROAS, CPA

2) User Cohort ( New, Repeat (Last Month New, Last Month Repeat, Last Month Reactivated) , Reactivated (Dormant 1+M, Dormant 2+M, Dormant 3+M, Dormant 6+M etc.)

3) Customer Funnel => Users Installed App -> Users Opened App -> Users opened category Page -> Users opened Product page -> Users Added to cart/Wish listed -> PG page opened -> Purchased

4) Number of Shares of product done

5) Number of Referrals

6) Retention rates %

7) Monthly Active Transacting users/Annual Active Transacting users (Ex: Unique transacting months - 11, Annual - 1, hence MATU/AATU = 11)

8) Product Reviews

9) Order Delivery TAT

10) SMS Parsed data - Customer transacting on which all platforms basis permission taken by us

11) Social media interaction with our product on social channels - Tweet, Insta posts etc.

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