Testbook.com

Product:

Introduction

It is Indian Edtech specially catering for govt. exam preparation, starting from test series to notes, strategy plans, mentoring all under one platform. Few other details:

• Founding: Founded in 2014 by IIT alumni Ashutosh Kumar and Narendra Agrawal.
• Focus: Specialises in competitive exam preparation for SSC, Banking, Railways, etc.
• Innovation: Incorporates AI and data analytics for personalised learning experiences.
• Course Offering: Diverse courses, including video lectures, practice questions, and mock tests.
• Success Stories: Numerous testimonials highlight the impact of high-quality content and tailored strategies.
• Accessibility: Aims for educational democratisation by catering to students from diverse backgrounds due to highly affordable study materials
• Collaborations: Strategic partnerships with educational institutions and best of the best educators for specialised content and training programs.
• DAU:
• MAU:
• Revenue generated: 35cr+ in FY2022 (a growth of 58.3%) 🤯
• The org is one of the leading edtech startup with a deeply penetrated user base of not just Tier1,2 or 3 cities but also rural areas. 😇

📌Ref: https://entrackr.com/2023/03/unpacking-testbooks-financial-health-through-fy22-numbers/

In simplicity, it is a platform for all the sarkari naukri folks with dreams of contributing to the nation building.👩🏻‍✈️👩🏻‍🏭👮🏻‍♂️

Why I picked it up?

Coming from similar background, I picked up testbook.com because as a student I had used it during my preparations and have few friends who are its active users.

The founders:

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What is the core value prop of testbook.com?

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1. One stop solution for all your prep needs:For any competitive exam, it has everything from test series to live lectures, PYQ with their solutions etc. All under one roof.
2. Cheapest alternative in the marketplace:One single PASS subscription ( valid throughout the year), gives access to 75000+ mock tests of 700+ exams. The pass costs less than Rs. 250! They make this possible because of having a large team of freelancers who are also student and make content for them and hourly paid subject matter experts(SMEs) etc.
3. Abundance of free stuffs:For freemium users also, there are lot of free material available on both the app and the website such as quizzes, free lectures to keep them engaged. They have more than 25 channels on youtube with 10lac viewership. And 200+ hours of free video upload daily in various languages such as Marathi (MPPSC), Bengali(WBPSC), Hindi etc.

With 2+crores student base, it boasts for hundreds of free video classes on you tube, tons of free access to study materials and test series.

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Remember him, from Nayak movie? The iconic man creating SARKARI NAUKRI wave within the country. 🤪Just kidding, sarkari naukri has been the dream of millions of Indians since forever. There are 7 crore youth (more from rural India) preparing for various government exams!! In such scenarios, traditional coaching institutions' fees can go as high up as 3 lac for course excluding living or food expenses. Here, online platforms such as YT, unacademy, Testbook etc. come as breath of fresh air with lot easier access and cheaper fees.

CVP basis AOV:

Let's look at a review of actual user of the above platform from quora. He was asked about which platform is best and how.

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How do users experience the CVP repeatedly?

1. By solving live quiz tests daily, bi-weekly, weekly
2. Attending live lectures daily, weekly etc. This could be on new topics, or based on PYQs.
3. Taking up mock exams regularly

Why does the trust this happen?

1. Testbook is a decade old, so has built trust with the core users via WoM, referrals etc.
2. They literally have everything under the sun in their platform, they have best SMEs, teachers, and and huge depth in study materials.
3. They outbid their competitors when it comes to price and range of the exams they cover.
4. They always comply with the marketing trends, eg they make shots when all one wanted was to have shorter videos, they have penetrated into different free platforms. Their brand campaigns are very eye-catchy even though old style (they have different ICP remember?) eg. 2 years ago they held a campaign where the price was a car!!! Seriously, a car. 🚗
5. Once you install their app, they will the user hooked to its ever increasing tests, info, by sticky push (the strategy for sticky push for a user like me is fatal, I block its all notifications from main settings😠)

What is the natural frequency of the product?

Here, the natural frequency of the product could be based on either paid subscriptions or time spent with the product on the desired platform.

On basis of time

Casual: 1-2 hr/week

Core: 1-2 hr/daily

Power: 4-5 hr/daily

Money spent by paid user:

Do they have other sub-product? What is their natural frequency like?

So lets first understand product v/s sub products.

The main product of testbook has aways been pass, the other new one added a year ago is SUPER but they have expanded into a lot of new territories since sometime. Let's explore them.

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What is the best engagement framework of this product?

Engagement framework:

Based on the above framework, we have selected two options -

• Depth = Frequency * time = 5 Videos watched in a month * 30 mins of average watch time (session time) (Commitment Building) = 2.5 Hr
• Frequency = X times in Y time = no of Testseries attempted + no of videos watched in a month

Number of quiz attempted: This will impact the watch hour of the app positively

1. Free Lectures: The more people watch lectures more likely they will be to become paid users, also free YT videos watch have ads, which will bring revenue

Mention the action that makes someone the active user of the product. Mention natural frequency of the product

Free user:

1. When someone spends time on lecture/quizzes at least once a week on app
2. People watching free YT videos from any channel of it.
3. Solving at least one mock/week

Paid user

1. Someone buys subscription- Testbook Pass or/and Testbook SuperCoaching
2. Renews it once it expires (Generally user purchase the 1 yr subscription)

SEGMENTATION

ICP BASED DEEP DIVE

Additional information from the user interview call:

1. Those preparing for competitive exams of different types, test book has abundant materials for them. They can scroll through thousands of notes, knowledge material.
2. To serious aspirants, tb app suffices for IG because of never ending materials
3. Vernacular is one of the areas which make learning easier for rural/tier 3 city aspirants

Some of my own experience:

1. Testbook app is highly elaborate and user friendly. Once you get onboarded and select exams, your notifications, home page, everything will be customised.
2. One can change their choice of exams as and when required and al the abover feature will customise once again
3. The push is in vernacular, at times motivational, and makes the user curious to open it
4. The number of push I recieved was however too overwhelming and chances are people restricting any kind of communication from them

This is when i selected handful of defence exams

This when i selected SSC and similar ones

Just look at the overwhelming number of push, all with timer. This happened while I was exploring the app initially.

The good thing is they are detailed, and actually reminded me of my UPSC journey wanting to explore their app, read daily CA for no absolute reason!!

Push in vernacular when I changed the exam. Gives personalised touch.

So all in all, this app is already doing extremely well when it comes to either segmenting or engaging the customers. Preventing churn in every possible way.

Lets also look at its campaigns, to my understanding tb campaigns are always going on in one way or the other 🤨

See??

USAGE BASED

Product hook

a. Goal- To convert the user as a paid user (Either Testbook Pass or SuperCoaching, or both)

b. Success Metric- Purchase

c. Problem Statement- Testbook has a lot of free products in App which makes it a go to app for all the user who installs the app. Current conversion rate from Free to Paid is around 7%

Problem statement- Increase the CVR from 7% to 8%

d. Current Alternative- Unacademy, Adda247, etc

e. Solution- below

f. Metrics to Track-

a. Avg watch time

b. No of test attempted

c. Transaction initiated

d. Requested callback

e. Purchase

g. Ramp us Milestone- NA

Engagement Campaigns

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RETENTION

What is your current retention rate in terms of user?

At what does retention curve flatten? Draw the retention curve.

Yes, retention curve was already flat for Testbook Pass since the product is dependent in exam prep lifetime. user only prepare for exams for 4 years

Which ICPs have best retention?

-Users who come from Tier 3 cities generally prepare for Tier 3 & 4 exams.

These exams are highly uncertain and hence always delays in schedule

Also, these users generally don't prepare for a single exams. They prepare for 7-8 exams at one go. So they are stuck in very big lifecycle of exam preparation.

What channels have best retention?

-Organic channels like

User acquired through blogs (18Million MaU)

User acquired through Youtube (30 Million monthly views)

have better retention than paid channels

Which sub features/sub product drive best retention?

PYQ, Daily current affairs and apart from these two, YT also drives a lot of retention. The reason being all of them free creating recency effect in minds of the users.

RESURRECTION

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Thanks,

Keep learning and keep growing 💪🏻