Why has Ketto's crowdfunding success rate dropped by 15% for medical campaigns over the last quarter?

Introduction

Ketto's 15% drop in crowdfunding success rate for medical campaigns over the last quarter is a concerning trend that requires immediate attention. To address this issue, 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 seasonal factors at play. Has this 15% drop been compared to the same quarter last year?

Why it matters: Seasonal variations could explain the drop and influence our solution approach. Expected answer: Yes, it's been compared and the drop is still significant. Impact on approach: If seasonal, we'd focus on year-over-year trends; if not, we'd investigate recent changes.

• Considering user segments, I'm curious about the campaign types. Has the drop been consistent across all medical campaign categories, or are certain types more affected?

Why it matters: Identifying specific affected categories could pinpoint the issue more precisely. Expected answer: The drop is more pronounced in certain categories, like cancer treatments. Impact on approach: We'd focus our investigation on the most affected categories and their unique characteristics.

• Thinking about recent changes, have there been any significant updates to Ketto's platform or policies in the last quarter?

Why it matters: Recent changes could directly impact campaign success rates. Expected answer: Yes, we implemented a new verification process for medical campaigns. Impact on approach: We'd examine the impact of this new process on campaign creation and donor trust.

• Considering external factors, has there been any notable shift in the competitive landscape or regulatory environment for medical crowdfunding?

Why it matters: External pressures could be influencing donor behavior or campaign success. Expected answer: A new competitor entered the market with lower fees for medical campaigns. Impact on approach: We'd analyze our competitive positioning and value proposition.