Product plan - Nexton Club

# Product plan - Nexton Club This document contains a high level definition of **Nexton Club** - a platform to support Nexton's referral program -, and an implementation path for initial development. ## MVP ### Phase 1 * **Goal:** test referrers' interest in the program * **KPIs:** Participation Rate, Referral rate #### Description The MVP phase 1 can be simply a form - like typeform or Google Forms, explaining the program, its rewards and asking for the referral information: * E-mail *[text]* * LinkedIn *[text]* * Role *[multiple selection + other]* * How do you know this person? *[Dropdown - (Friend / Acquaintance / I don't really know them)]* * Does this person know they are being referred? *[Dropdown - (Yes / No)]* * Why are you referring this person? *[text]* * Is there something else we should know? *[text]* #### Usage flow 1. Use the preferred channel (as found on the [discovery](#Discovery-pre-implementation) process) to broadcast to potential referrers the program description and the link to the form 2. The operations team should be responsible for periodically checking the form answers and getting in touch with referrals, following their normal recruiting process 3. Rewards should be given according to discovery research - either upon correct form submission or after a candidate is effectively hired. The operations team is responsible for manually tracking when a referred candidate is hired ### Phase 2 * **Goal:** test referrals' interest in the program * **KPIs:** Response Rate, Conversion #### Description The MVP Phase 2 consists of an improved version of phase 1 - more automatic and with better UX. The product consists of three basic parts: CRM Workflows, a program landing page and a referral landing page. * **CRM Workflows**: these workflows automate communication with referrers and referrals and track the recruiting pipeline. * **Program landing page**: this page describes the program and its rewards. Its goal is to convince people to refer candidates * **Referral landing page**: this page describes Nexton and its perks. Its goal is to convince referred candidates to enter the recruiting process #### Usage flow 1. An automatic communication flow asks for referrals, linking to the program landing page 2. The referrers submits their referrals through the program landing page 3. The CRM follows an automatic communication flow with the referred candidates, always linking to the referral landing page 4. The referred candidates sign up in the referral landing page, which describes Nexton and its perks 5. The referred candidate sign up should create a card with the contact in a recruiting pipeline 6. The operations team follows the recruiting process, moving the card throughout the pipeline 7. If the candidate is hired, this should be tracked in the pipeline, signalling that the referral has reached success ## Roadmap ### Discovery (pre-implementation) Before starting to implement the product, the Product Manager or the Marketing team should run a discovery research. This research should answer at least the following questions: * **What do we consider a referral?** * A referral can be simply submitting contact information for a potential candidate, or successfully hiring someone * This should be defined according to the business' needs: is it more important to feed the top of funnel for potential candidates, or to convert more candidates? * **How much is a referral worth for us?** * Possible answers: CAC or Cost Per Lead (according to previous answer) * **Who's our referrer persona?** * The ideal referrer is someone who's already a promoter. The easiest way to find those is by running an NPS survey: people who give NPS scores above 9 are highly likelly to be already recommending the company to friends. * **Which rewards should we give?** * The previous questions gives us the maximum cost a reward can have for Nexton and who are the ideal referrers. * According to this value, raise some hypothesis for desirable rewards for referrers (considering the persona: 35 year old, software developer, making important life changes, likes sports, etc) * Run a survey asking ideal referrers what reward they would prefer to recommend: one friend, two friends, ten friends. * **When should we ask for referrals?** * Raise hypothesis of moments when ideal referrers are most satisfied with Nexton's service, such as: * When interviewing with companies * Immediatelly after being hired * Upon receiving the first paycheck * After a couple months * Right after they answer the NPS survey (with a promoter score) * **Which channels should we use to ask for referrals?** * Raise hypothesis alongside the marketing team ### Implementation roadmap #### MVP Phase 1 1. **Form** 1. The product or the marketing teams can quickly design a form in the preferred survey tool 2. **Operation** 1. The operations/recruiting team should be trained on how to access form answers and follow the [usage flow](#Usage-flow) #### MVP Phase 2 1. **Design team** 1.1. Design program landing page 1.2. Design referral landing page 2. **Marketing team** 2.1. Asking for referrals: copywriting for the preferred communication channel automatic flow (ideally e-mail) 2.2. Copywriting for program landing page 2.3. Reaching out to referred candidates: copywriting for the preferred communication channel automatic flow (ideally e-mail) 2.4. Copywriting for referral landing page 3. **CRM management** 3.1. Asking for referrals: automatic communication flow in the preffered channel (ideally e-mail) 3.2. Recruiting pipeline: assembling the pipeline to follow the referred candidate's recruiting process and its automations 3.3. Reaching out to referred candidates: automatic communication flow in preferred channel (ideally e-mail) 4. **Development** 4.1. Implement program landing page 4.2. Implement referral landing page 4.3. Instrumentation: implement event tracking on all designed pages, to optimize conversion in the future 5. **Operations** 5.1. Train operation teams to follow [usage flow](#Usage-flow1) ### Post-implementation After implementing phase 1 and phase 2, the product team should closely follow the KPIs for each phase and also the landing page events. Alongside the marketing team, use these metrics to optimize rewards, communication flows, landing page design and recruiting operations. ## Dependencies * Tool dependencies: * CRM * Survey tool (Typeform, google forms) ## Assumptions and ideas * Assumptions: * Nexton already uses a CRM (Hubspot) * Nexton has a positive NPS * There's a database with potential referrer's information * Ideas: * In the future, if the program is successful, it might be interesting to remove CRM dependency. This can be reached by building a recruiting process management tool, replacing the CRM pipeline. * Besides directly reaching out to referred candidates, their contact information can also be used to create retargeting and lookalike audiences in paid media (Facebook Ads, Google Ads, Linkedin Ads, etc)