What metrics would you use to evaluate Niche's scholarship search feature?

Introduction

Evaluating Niche's scholarship search feature requires a comprehensive approach to product success metrics. To address this challenge effectively, I'll follow a structured framework that covers core metrics, supporting indicators, and risk factors while considering all key stakeholders. This approach will allow us to gain a holistic view of the feature's performance and impact.

Step 1

Product Context

Niche's scholarship search feature is a tool designed to help students find and apply for relevant scholarships to fund their education. Key stakeholders include:

1. Students: Seeking financial aid opportunities
2. Parents: Supporting their children's education funding
3. Educational institutions: Attracting qualified students
4. Scholarship providers: Connecting with eligible applicants
5. Niche: Generating revenue and user engagement

The user flow typically involves:

1. Students create a profile with academic information and interests
2. The search algorithm matches students with relevant scholarships
3. Students browse and save potential scholarships
4. Users apply directly through the platform or are directed to external application sites

This feature aligns with Niche's broader strategy of becoming a comprehensive education decision-making platform. Compared to competitors like Fastweb or Scholarships.com, Niche's scholarship search is integrated with its college search and review features, providing a more holistic experience.

The product is in the growth stage, with a focus on expanding the scholarship database and improving match accuracy to drive user adoption and retention.