Problem: To improve the quality of interviewees and help them get hired.
We already had a product that helped to get job referrals from company insiders after a brief screening before their resume was passed on to HR or rejected. After data analysis and feedback from lot of people in our referrer panel, we found that many good resumes were getting turned down and the reason for that was poor interview performance.
We needed improve a success rate of those interviews, referrals and ultimately the number of people getting hired.
Possible Solutions: Interview tips, Self help books, Video lectures, In-person trainings, Mock interviews
- Lack of constructive feedback to the person
- Not knowing where or what went wrong
- Lack of basic Interview etiquette! (Surprisingly, over 42% didn’t how to dress up, Greet or even answer basic questions)
Competition: In our market research we found how there was not a single scalable product addressing this except the traditional self-help books or videos.
One Interesting approach we found was a guy doing p2p on call trainings in addition to study materials. But it had two challenges — It wasn’t scalable, a person can only do so much and Secondly, it costed a lot! (About 200$). Talk about it being available to masses in a country like India.
- Improving success rate of our core job referral product — Net Promoter Score (NPS)
- Increasing revenue while better utilising existing resources i.e. Company Insiders, tech and customer support teams — Monthly recurring revenue (MRR)
- Increasing revenue by offering existing users an additional product — Customer Acquisition Cost (CAC)
- Providing better value for money to our customers with end to end packages of interview preparation and job referrals — Customer Lifetime Value (CLTV)
- Increased user satisfaction — Customer Satisfaction Score (CSAT)
Results: The result was InterviewPro. We created a product where we leveraged our network of over 25k company insiders to take mock interviews of people looking for jobs in similar roles or industry verticals.
We also hired HR Experts that provided a on call P2P coaching. Apart from these we also got feedback from interviewers on multiple parameters and were able to provide the users a detailed interview feedback report. Study material with interview tips relevant to their industry and role, along with general interview tips was also curated and provided.
All of this at a price point of 35$
- Our first month, we pitched the new product to our existing user base via emails and with banners at the website of our existing main product. We were able to net 20% of our total sales from it.
- We successfully signed a deal with Naukri.com, India’s leading job portal for this product that would give this product a visibility of over 50 million jobseekers. The product was integrated at the Naukri.com site.
- Over 40% of our first month users were able to get a job within 30 days
- Over 85% of our users said the product helped them in significantly improving their interview skills
- We achieved a Net Promoter Score (NPS) of 9
- After failing to provide for all industries, we limited the product to service only those industries that we confidently could while working on expanding to more.
- We identified that over 70% of our users needed coaching around basic interview etiquette and skills. Our product was not very helpful to those who were already polished. So, we were able to established our target segment.
- We also experimented with pricing with multiple set of users and found our sweet spot.