Delving into Product Management Interview Questions: Diagnosing a Decrease in Instagram Stories Creation
For aspiring product managers (PMs), especially those aiming for roles at FAANG companies, delving into interview questions is a crucial exercise. Structured responses provide clarity and exhibit analytical prowess. In this blog post, we’ll dissect how to tackle a scenario where you, as the PM for Instagram Stories, encounter a 5% decrease in story creation. Let’s explore the systematic approach to diagnosing product issues, using frameworks and strategies inspired by ‘Decode and Conquer: Answers to Product Management Interviews’.
Detailed Guide on Framework Application
Choosing the Right Framework
To properly diagnose a product issue like a decrease in user content creation, employing the AARRR (Acquisition, Activation, Retention, Referral, and Revenue) framework is a well-suited strategy. This common product management framework breaks down the customer journey into distinct phases.
Applying the AARRR Framework
Let’s dive into how we’d utilize the AARRR framework for our Instagram Stories creation issue:
1. Acquisition Analysis
Investigate whether a decrease in new users may contribute to the decline in content creation. Factors might include any changes in the market, competition, or marketing efforts. In this phase, one would look at metrics for new user sign-ups and compare them with story creation trends.
2. Activation Check
Evaluate the onboarding process for new users. Are they being educated on how to create a story? Analysing user flow and identifying potential drop-off points where new users might get lost or confused is critical.
3. Retention Assessment
Retention ties directly to content creation. Delve into engagement patterns and determine if users are returning less frequently or interacting differently with the platform, possibly by viewing but not creating stories.
4. Referral Scrutiny
Understand if peer referrals are impacting story creation. It’s possible that if users see fewer stories from friends, they might be less inclined to create their own content.
5. Revenue Examination
While seemingly less related, a subset of creators might be motivated by monetization. If there’s been a shift in how creators can earn revenue, this could impact story creation.
Hypothetical Examples
Here’s how you might articulate findings using hypothetical data:
“Upon analyzing acquisition, I observed no significant change in new user sign-ups, suggesting the decline is not due to fewer users entering the platform. During the activation phase assessment, I uncovered that a recent app update introduced a more complex interface for story creation, which correlated with a higher drop-off rate during onboarding. This suggests the decrease in content creation might partially result from the new interface.”
Facts Checks and Assumptions
Remember that while you might not have exact figures, relating your assumptions to known user behaviors or industry benchmarks is important. For example, “Based on industry standards, a typical social media app has a day-one retention rate of 25-40%. If our retention metrics fall below this after the UI update, it would merit closer investigation.”
Communicating Effectively
Be concise and transparent about your thought process during the interview. Admit when you’re assuming and prioritize hypotheses that you can test and measure.
Conclusion
In summary, using structured frameworks like AARRR allows us to systematically analyze product issues and formulate articulate responses. Remember, practice with these frameworks is essential to refine your analytical skills and impress your interviewers. Best of luck in your preparation!