TimesPrime: Membership Rewards

Onboarding teardown for TimesPrime app

Ideal Customer Profile

ICP	ICP 1	ICP 2
ICP Name	Tejasva Singh	Prateek Mehta
Age	23	35
Gender	Male	Male
Marital Status	Single	Married
Kids	No	No
Occupation	Salaried	Salaried
Location	Bangalore	Delhi
Lives with?	Flatmates	Family
Education Level	Graduate	Graduate
Income levels	< 25k per month	> 1L per month
What are they interested in?	Dining, Entertainment, Shopping, Going on dates, Cricket	Dining, Shopping, OTT, Movies,
Time or Money?	Money	Time
Risk Appetite	High	Medium
Most used apps	Zomato, Bumble, Rapido, Ola, Netflix, Hotstar, Youtube, Discord, Social Media apps	Zomato, Twitter, Netflix, Hotstar, Youtube, Social Media apps, News
How do they spend time?	Office, Malls, OTT, Instagram, Rent	Office, family, outdoor, shopping
What do they spend their money on?	Food ordering, Shopping, OTT, Transport	House repairs, food, shopping, furniture,Travel
What kind of content do they consume	Sports, Bollywood	International TV Shows and Movies
Which features do they use most	Membership Rewards	Membership Rewards, Credit Score check, Credit Card
How frequently do they use these features	At least once in 45 days	Once in 60 days
Willingness to pay	Low	High
Problem statement	Want to find the best deals	Want a premium lifestyle

User Goals and JTBD

Primary

Financial Goal: Create value for money so they get more benefits despite paying lower than market rates for the products offered by TimesPrime

Secondary

Social Goal: Get access to premium lifestyle and better standard of living by getting exclusive access to premium events

Onboarding Teardown

File attached

Onboarding Teardown_ TimesPrime _ Rajkumar Desai GX18.pdf

Activation Metric

Hypothesis 1:

Subscription purchased within 2 weeks of sign up

Reasoning:

Users who show commitment by making a purchase within 14 days of sign up show commitment and perceived value

Metrics to track:

Install to Sign up ratio, Time spent on app, D1 to D7 retention, Time taken on all screens until purchase

Hypothesis 2:

Credit Cards evaluated for purchase in 30 days from sign up

Reasoning:

Evaluating purchase of credit cards is a high commitment action

Metrics to track:

No. of Credit Cards evaluated, D1-D7-D30 retention, PAN Card provided, Time taken for submitting data, application start to end time

Hypothesis 3:

Referral shared in 30 days of sign up

Reasoning:

Free users also get certain benefits from sharing referrals. Users who refer the app to other users see a great value in the product for themselves or others

Metrics to track:

No. of referrals shared, Time spent on app, No. of membership rewards evaluated

Hypothesis 4:

Coupon Code applied in 72 hours of sign up (payment success is optional)

Reasoning:

Users who have come through a specific channel would prefer testing the coupon code as soon as they sign up before eventually deciding to pay

Metrics to track:

No. of Coupon Codes applied per user (before 1 purchase), Install to Sign up Ratio (filtered across channels), Coupon Code rejection rate, No. of Coupon Codes tried per user