When encountering an execution inquiry, it's pivotal to highlight specific elements showcasing your depth of understanding and expertise. Here are the pivotal criteria:
Determine and Rank Opportunities: Not just spotting opportunities, but recognizing the ones aligning best with overarching goals.
Deriving Goals from Constraints: When faced with limitations or challenges, how do you transform them into actionable targets?
Evolving with the Situation: The ability to pivot when met with fresh data or changing landscapes is invaluable.
For instance, let's say we need to define success for Stories within Instagram?
The Company's Vision
- What does the organization aim to achieve?
- How does the sector you're scrutinizing contribute to this bigger picture?
Product Objectives from the User's Lens
- How does this sector further the organization's main objectives? And what benefits does the user derive?
Metrics that Indicate Success
- Hypothetically, if this product was non-existent and suddenly appeared, how would it affect overarching metrics?
- Would it enhance user engagement or retention? Attract new users? Boost revenue?
- Identify one primary metric as your guide.
Short-Term Surrogate Metrics
- The primary metric might be slow to register changes. Are there metrics that can act as surrogates, reflecting changes sooner?
Analyzing Metric-Related Trade-offs
- Every metric has its drawbacks. Which ones should you be wary of when relying on your primary or surrogate metrics?
For example, do we want to add the ability to post Instagram Stories on the top of the screen or as a separate posting option on the bottom bar?
Defining the Trade-Off
- If you were to commit fully to one of the options, what would the immediate and long-term repercussions be?
- Recognize the shared endgame for both options.
- Your aim should be to balance the trade-offs in a way that promotes the common long-term objective.
- By experimenting with both elements, find the blend that serves the long-term goal best.
- Initial solutions pave the way for deeper optimization using factors like the network effect or personalization.
For instance, why is there a 10% drop in the amount of Instagram Story postings?
Expansive Investigation: The aim is to dig into every plausible reason that might have instigated the change in metrics.
Creating a Comprehensive List: Focus on attributes like technical details, particular funnel stages, demographic shifts, or specific product alterations.
Stay Open-Minded: There isn't a fixed 'right' answer. It's more about exploring a broad range of possibilities, even if you don't pinpoint the exact root cause.