Product

Udemy, Inc. is an educational technology company offering a platform for online learning and teaching.

The core value of the product is centered around "Improving lives through learning." The product aims to be a global destination for online learning, providing a platform that empowers both organizations and individuals. It emphasizes the dual purpose of learning: whether someone wants to acquire new knowledge or share what they already know.

Anyone can create and offer a course on Udemy. Since its launch in 2010, this approach has transformed Udemy into the largest collection of online courses globally, with over 202,000 courses available on the platform.

Udemy ranks 1st among the 3,719 active competitors and gone public in the year 2021. The following are the details of the Company.

🔖 Notable and top 5 competitors of Udemy are as follows:

• SimpliLearn - San Francisco based, 2010 founded, Acquired company.
• UpGrad - Mumbai based, 2015 founded, Series B company.
• Coursera - Mountain View based, 2012 founded, Public company.
• Platz - San Francisco based, 2014 founded, Series B company.
• Degreed - Pleasanton based, 2012 founded, Series D company

🔎 Some Interesting Facts :

• Growth of the Courses

• Udemy Revenue from B2C and B2B

🪄 Source

• https://tracxn.com/d/companies/udemy/__4NtZ4yEad8Y3CmqqmVxf-3wH7NL5KLV6Q14gvKeT2sM/competitors
• https://about.udemy.com?locale=en-us
• https://www.classcentral.com/report/udemy-by-the-numbers/

ICP Creation

👥 User Section - Interview

Interview was conducted with Users who have been actively using Udemy since they know about it.

👤 Anand

• A mid Level Management professional and alumni of Renowned B-school in India
• Fun loving, family man, traveller and Food Blogger
• Constantly seeking to be well-informed in the realms of technology

🔪 Painpoints

• Content available on search engine may not be authentic especially while searching for a trending and new topic
• Determining authenticity of an content is time consuming. Even if I come across a genuine course, the content and topic I seek may still differ significantly
• While certain platforms provide free course reviews, there will be one lectures available for each specific topic

😮 Facts about Udemy

• Any trending topic searched on Udemy has many lectures with the review giving me more options to choose
• These course are Budget Friendly and allows me to view the content throughly. The clipping of the lecture allows me to view the modulation and Slang of the instructor
• Course reviews boost confidence in content authenticity
• Post completion of the Course in a topic, the suggestion (What to Learn Next section) comes up for the same topic to upgrade to next level
• I can redeem the points for flight booking from Intermiles on spending in Udemy
• I can view the courses opted on Phone or TV or Laptop

👤 Subbu

• A Senior Developer and AWS community builder working in Product Development company
• Tech savy, Social Person, Anime enthusiasts and Movie Lover
• Being a cloud professional, wants to stay abreast of the latest development in cloud computing

🔪 Pain Points

• It's hard to find beginner courses for newly launched compute services
• Technical communities share information about the newest services, but it's unsure if the content is enough to help you build a career

😮 Facts about Udemy

• Udemy had been referred by colleagues in my early career and now it has been my all time solution for any course
• 30hrs of Technical content for 300 rupee is worth it always
• The Life time access helps me to revisit the course when required
• The UX is simple, on search of the content the tile comes up with all the details i wanted, as in Ratings, Number of people and total hours for Lecture

👤 Manjunatha

• Development Engineer, pursuing AI and Sustainability,Aspiring Product Manager and an NRI
• Outgoing, Socialite and loves travelling
• A passionate reader and enthusiast of books

🔪 Pain points

• The courses I'm interested in are readily available in learning platforms, but they require completion within a set timeframe and come with a substantial cost
• Meeting the expected pace to complete the course has consistently been a challenge due to my work schedule

😮 Facts about Udemy

• I have the flexibility to choose my own time and pace for a course, and I can view the content as many times as I want as the course have Life time access
• The course is consistently budget-friendly, with ongoing offers on trending topics
• Earning shareable certificates upon completion makes me feel accomplished
• If there's new material added to a course I recently finished, Udemy has notifications

👤 Tanmay

• Founder and CEO of a company dedicated to empowering communities for environmental initiatives
• Curious and loves to talk about community ,climate change and climate tech

🔪 Pain Points

• I actively seek courses aligned with personal interests, but finding peer-reviewed basics is challenging

😮 Facts about Udemy

• Udemy, a resource I found in college, from then it remains my go-to for learning—be it guitar or climate-related courses
• Many courses are peer-reviewed and have a strong emphasis on being application-oriented
• Absolutely cost-effective and entirely worthwhile

👤 Swati

• Sales and Marketing Professional
• Curious, explorer and Progress driven
• Food Explorer, Loves cooking and bibliophile

🔪 Pain Points

• It's challenging to locate content that is more aligned with the subject matter and offers in-depth knowledge

😮 Facts about Udemy

• I was recommended Udemy by my peers and my sibling as a platform for exploring and learning
• The course offered by the same instructor on both YouTube and Udemy differs significantly. Udemy provides more comprehensive and well-versed details on the subject
• It is cost-effective, and the content is on par with any other course available on the online platform

👨‍🏫 👩‍🏫 ICP from Interviews

🔐JBTD ( From ICP and User Interviews)

• From the JBTD, We see the Personal and Social goals are core goals for the user to opt for the Udemy
• While the Social goal may appear closely related to the primary goal, it actually comes after the Personal goal. Assuming the Social goal as the primary goal, the framework fails to justify it, as Udemy certification does not significantly contribute to career advancement or serve as a notable achievement to boast about. Another perspective suggests that if it were a social goal, it would be more appropriate to share achievements related to courses from international universities (other platforms do) on networking platforms rather than Udemy. This highlights that Personal goal is the primary reason

Onboarding TearDown

Note : The PDF includes Onboarding TearDown with Suggestions at the end section

🔱 Activation Metrics

From User interviews and observations, following are the Activation Metrics :

⚡ Hypothesis 1 : User adds to Cart/saves for later the discounted courses viewed in the first visit of Udemy

Reason : Udemy offers 86% offer for certain courses for New user . A User adding the discounted courses to the cart ensures that he has found the content valuable and are inclined to make future course purchases on Udemy . This indicates increased word of mouth and likelyhood of long-term engagement with Udemy.

⚡ Hypothesis 2 : User buys the discounted course viewed within 6 hours of the First visit

Reason : The offer price for New user is active for 6 hours of his first visit to Udemy. By taking advantage of the offer price, the user has perceived they are getting a good deal, which may enhance their overall satisfaction. This positive perception can contribute to their long-term commitment and retention curve with Udemy.

⚡ Hypothesis 3 : User has rated 4 star and above for prompted ratings for the first course

Reason : A high rating indicates satisfaction with the course content and learning experience. Positive feedback can boost the user's confidence in the Udemy and encourage them to explore additional courses. This Hypothesis hits retention and LTV.

⚡ Hypothesis 4 : User has purchased minimum one course during the sale

Reason : Udemy consistently provides monthly offers, granting discounts of up to 95%.

User are likely to perceive they are getting good value for their money.

⚡ Hypothesis 5: User view the Udemy website twice in every month.

Reason : Users who visit the website twice a month can be assured they are availing themselves of the best course prices offered. Perceived value, and a sense of belonging [ Lifetime Access] contribute to user loyalty. Users will feel connected to Udemy are more likely to continue using it for their learning needs.

Offer List :

Jan - New year Sale

End of month (3 day Flash Sale)

Feb/Mar - Valentine's day Sale

Buy more Save more

April - Own Your Education Sale

Easter Sales

May/Jun/Jul - Mother's day Sale

Summer Sales

Aug/Sept - Back to School Sale

Oct/Nov - Halloween sales

Thanksgiving sales

Black Friday Sale

Cyber Monday’ Sale

Dec - Christmas Sale

[Source - https://learnopoly.com/how-often-does-udemy-have-sales/]

📈 Metrics to Track

• Number of Users who are active within 6 hours of first visit to Udemy
• Conversion rate from course views to cart additions/saves
• Retention rate of users who made a purchase during a sale
• Number of Users purchasing the courses during the Offers
• Average number of Courses purchased by a users during the offers
• NPS
• Retention rate - D7, D30
• Average Ratings of course given by a User
• App Store rating and comments
• DAU/MAU