Should Selected Society Group prioritize expanding its exclusive member events to boost engagement, or focus on increasing the accessibility of its networking platform to grow user numbers?

Introduction

The trade-off question at hand is whether Selected Society Group should prioritize expanding its exclusive member events to boost engagement or focus on increasing the accessibility of its networking platform to grow user numbers. This scenario involves balancing the exclusivity that drives engagement with the potential for growth through increased accessibility. I'll approach this analysis by examining the product ecosystem, identifying key metrics, designing experiments, and providing a data-driven recommendation.

Step 1

Clarifying Questions (3 minutes)

• Based on the current market positioning, I'm thinking Selected Society Group might be targeting high-net-worth individuals or industry leaders. Could you clarify the primary user segment and their key needs?

Why it matters: Helps tailor the solution to the most valuable users Expected answer: Focused on C-suite executives and entrepreneurs Impact on approach: Would prioritize high-touch, exclusive experiences over mass accessibility

• Considering the revenue model, I assume there's a premium membership fee. How significant is this revenue stream compared to other potential sources like sponsorships or partnerships?

Why it matters: Determines the financial impact of expanding events vs. growing user base Expected answer: Membership fees are the primary revenue source Impact on approach: Would lean towards maintaining exclusivity to justify high fees

• Looking at user behavior, I'm curious about the current engagement levels. What's the average frequency of member participation in events and platform usage?

Why it matters: Indicates whether engagement or growth should be the priority Expected answer: High event engagement but lower platform usage Impact on approach: Would focus on integrating platform features with event experiences

• Regarding technical feasibility, what's the current scalability of the networking platform? Are there any limitations that would impact rapid user growth?

Why it matters: Determines if the platform can handle a significant influx of new users Expected answer: Platform is scalable but would require investment for major growth Impact on approach: Would consider a phased approach to accessibility increase

• In terms of resources, how is the team currently structured between event management and platform development?

Why it matters: Identifies potential resource constraints for either option Expected answer: Stronger event management team, smaller tech team Impact on approach: Would consider outsourcing or hiring for platform development if pursuing accessibility