What metrics would you use to evaluate Underdog Fantasy's Pick'em contests?

Introduction

Evaluating Underdog Fantasy's Pick'em contests 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 help us gain a holistic understanding of the product's performance and identify areas for improvement.

Step 1

Product Context

Underdog Fantasy's Pick'em contests are a daily fantasy sports (DFS) product where users make predictions on player performance across various sports. Users compete against each other by selecting players they believe will outperform their projected stats. The key stakeholders include:

1. Users: Seeking entertainment and potential financial gain
2. Underdog Fantasy: Aiming for user growth, retention, and revenue
3. Sports leagues: Benefiting from increased fan engagement
4. Regulators: Ensuring fair play and legal compliance

User flow:

1. Users browse available contests and buy-in amounts
2. They select players for their lineup based on provided projections
3. Users monitor live scores and track their performance
4. Winnings are distributed based on contest rules and user rankings

This product fits into Underdog Fantasy's broader strategy of offering innovative, user-friendly DFS experiences. Compared to competitors like DraftKings and FanDuel, Underdog's Pick'em contests focus on simplicity and accessibility, potentially attracting a wider audience.

Product Lifecycle Stage: Growth phase - The product has gained traction but still has significant room for expansion and refinement.