What metrics would you use to evaluate Fetch (Services (B2C Non-Financial))'s reward point system?

Introduction

Evaluating Fetch's reward point system requires a comprehensive approach to product success metrics. As a B2C service, Fetch's rewards program plays a crucial role in user engagement and retention. I'll follow a structured framework covering core metrics, supporting indicators, and risk factors while considering all key stakeholders.

Step 1

Product Context

Fetch's reward point system is a loyalty program designed to incentivize users to scan their receipts and engage with the app regularly. Key stakeholders include:

1. Users: Motivated by earning points and redeeming rewards
2. Retailers: Interested in increased sales and customer loyalty
3. Fetch: Focused on user acquisition, retention, and monetization

User flow:

1. User scans receipt
2. App processes receipt and awards points
3. User accumulates points over time
4. User redeems points for rewards

The reward system fits into Fetch's broader strategy of becoming the go-to platform for receipt-based rewards, driving user engagement and providing valuable consumer insights to partners. Compared to competitors like Ibotta or Receipt Hog, Fetch's system is more straightforward, allowing users to earn points on any receipt.

Product Lifecycle Stage: Growth - Fetch is expanding its user base and partner network, focusing on increasing engagement and retention.