Introduction
Evaluating the success of Michaels Stores's online craft classes and workshops requires a comprehensive approach to product metrics. To address this product success metrics challenge effectively, I'll follow a structured framework covering core metrics, supporting indicators, and risk factors while considering all key stakeholders.
I'll follow a simple success metrics framework covering product context, success metrics hierarchy.
Step 1
Product Context
Michaels Stores's online craft classes and workshops are digital educational offerings that allow customers to learn various crafting skills from the comfort of their homes. This product serves as an extension of Michaels' physical store experience, bringing expert-led instruction to a broader audience.
Key stakeholders include:
- Customers: Seeking to learn new skills or improve existing ones
- Instructors: Craft experts looking to share knowledge and earn income
- Michaels Stores: Aiming to increase engagement, drive sales, and strengthen brand loyalty
User flow:
- Browse available classes
- Select and register for a class
- Attend the online session
- Engage with instructor and other participants
- Complete projects and provide feedback
This initiative aligns with Michaels' strategy to become a one-stop-shop for crafters, offering not just supplies but also education and community. It competes with other online learning platforms like Skillshare or Craftsy, but differentiates through its direct connection to Michaels' product ecosystem.
Product Lifecycle Stage: Growth - The online classes are likely past the initial launch phase but still expanding in terms of offerings and user base.
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