Rajnish Kumar, the CTO & Cofounder of Ixigo, spoke at the ProductGeeks Conference 2018 on Ixigo’s key learnings in its journey and much more.
In this part of his talk, Rajnish talks about ‘core actions’ and ‘virtuous loops’ – a simple framework of sorts to understand user journey and gauge both the product and business sense in it.
- Every great product has a ‘core action’.
There needs to be a ‘core action’ for every product – an action that defines the product at its centre. Once you have it figured out, it is a matter of creating a roadmap on how to build it and optimizing the action.
- Making something super easy is super hard.
As Rajnish says, the core action of Ixigo is to book a flight. But clearly, it isn’t so simple. And making the action simpler is hard. Relentless optimization of all the processes underlying the core action is a major differentiator between successful and failed products.
- Incentivize your core action for stickiness.
By incentivizing your core action via loyalty points or rewards etc. user retention can be greatly improved, as the user incurs a ‘loss’ by leaving the platform with his rewards unused. In Ixigo’s case, reward points for booking flights boosted their usage and retention up to 250%.
- Build ‘virtuous loops’ or loops that are beneficial both ways.
Ultimately the core action must be part of a loop that begins with the user action followed by auxiliary actions that are embedded via UX, social etc. and then finally result in a direct incentive for the users. Rajnish shares the virtuous loops that Ixigo identified for itself in the video.
We will be sharing more of Rajnish’s talk going forward. Please subscribe to the NextBigWhat channel for more such product insights. And make sure to check out NextBigWhat.com often for updates.