How can we explain the sudden 30% decrease in new user signups for Lendable (London)'s mobile app over the past two weeks?

Introduction

The sudden 30% decrease in new user signups for Lendable's mobile app over the past two weeks is a critical issue that demands immediate attention. To address this problem, I'll employ a systematic approach to identify, validate, and resolve the root cause while considering both short-term fixes and long-term strategic implications.

Step 1

Clarifying Questions (3 minutes)

• Looking at the timing, I'm thinking there might be a recent app update. Has there been any significant changes to the app in the last month?

Why it matters: Recent changes could directly impact user experience and signup rates. Expected answer: Yes, there was an update two weeks ago. Impact on approach: If confirmed, we'd focus on changes introduced in the update.

• Considering user segments, I'm curious about the distribution of the decrease. Is the 30% drop uniform across all user segments or concentrated in specific groups?

Why it matters: Helps identify if the issue is global or segment-specific. Expected answer: The decrease is more pronounced in younger users (18-25). Impact on approach: We'd investigate factors specifically affecting younger users.

• Thinking about external factors, have there been any significant changes in marketing spend or channels in the past month?

Why it matters: Changes in marketing could directly impact new user acquisition. Expected answer: Marketing spend and channels have remained consistent. Impact on approach: We'd focus more on product and user experience factors.

• Considering competitive landscape, has there been any major moves from competitors recently, like new features or aggressive promotions?

Why it matters: Competitive actions could be drawing potential users away. Expected answer: No significant changes in competitor activities. Impact on approach: We'd prioritize internal factors over market dynamics.

• Regarding data integrity, has there been any changes to the way new user signups are tracked or reported in the last month?

Why it matters: Ensures we're dealing with a real issue, not a reporting anomaly. Expected answer: No changes in tracking or reporting methods. Impact on approach: We'd focus on actual user behavior rather than data discrepancies.