Facebook Product Manager Metrics Interview: Facebook Marketplace

Summary

In this product management mock interview, Neri discusses setting metrics for Facebook Marketplace. The conversation centers around understanding the platform's mission, identifying key user groups, and selecting metrics that reflect engagement and value for both buyers and sellers. Neri suggests focusing on weekly active users, transaction estimations, and distribution analysis to ensure the platform aligns with Facebook's broader goals and provides equitable opportunities for all users. The interview also touches on the importance of not just measuring engagement but also considering the quality of user experiences.

Takeaways

• 😀 The interviewee, Neri, shares their background including a product management internship at Apple and an upcoming role at Facebook, highlighting the importance of community in product management.
• 🎓 Neri emphasizes the value of the Exponent program in preparing for interviews and the significance of community in interview prep spaces.
• 🛍️ Facebook Marketplace is described as a two-sided platform facilitating transactions between everyday buyers and sellers, with a focus on local community engagement.
• 🔍 The interview question revolves around setting metrics for Facebook Marketplace, considering its role within Facebook's broader commerce ecosystem.
• 📈 The thought process for setting metrics includes understanding the product's mission, identifying key user groups, and prioritizing key driving metrics.
• 🤔 Neri discusses the importance of defining 'active' for both buyers and sellers, suggesting that active users could be those who click on at least one post within a week.
• 💬 The interview explores the challenge of tracking actual transactions, suggesting proxies like the number of back-and-forth messages between buyers and sellers.
• 📊 The discussion includes metrics for engagement, such as time spent on the platform and distribution of purchases and sales to understand user behavior.
• 🔄 Neri mentions the importance of retention metrics like 28-day retention for sellers and buyers to gauge repeat behavior and platform stickiness.
• 💡 The interviewee suggests focusing on a limited number of core metrics rather than an extensive list, to avoid overwhelming the analysis and maintain clarity.
• 🚀 The interview concludes with self-reflection from Neri on the importance of articulating risks and focusing on a 'north star' metric to guide product strategy.

Q & A

What is the main focus of the interview in the script?

The main focus of the interview is to discuss how to set metrics for Facebook Marketplace, a platform that allows users to buy and sell items within their local communities.

What is Neri's background according to the script?

Neri has a background in consulting and recently completed a product management internship at Apple. Post-graduation, Neri will be joining Facebook as a product manager.

What does the interviewee suggest as the first step in setting metrics for Facebook Marketplace?

The interviewee suggests starting by understanding Facebook's overall mission and how Marketplace aligns with that mission, which is to empower people to create community and bring the world closer together.

Why does the interviewee choose a weekly active user metric over a daily one for Facebook Marketplace?

The interviewee chooses a weekly active user metric because commerce activities like buying and selling are not typically done on a daily basis, and a weekly cadence can help smooth out fluctuations such as increased activity on weekends.

What does the interviewee consider as an indicator of an active buyer on Facebook Marketplace?

An active buyer is considered to be someone who has clicked on at least one post within a week's time span.

How does the interviewee propose to estimate the occurrence of transactions on Facebook Marketplace?

The interviewee suggests using proxy metrics such as the percentage of listings that have at least six back and forth messages, indicating a potential sale, or when a seller removes an item or marks it as sold.

What distribution-related metric does the interviewee want to track to ensure Facebook Marketplace is serving everyday buyers and sellers?

The interviewee wants to track the distribution of purchases per buyer per week and sales per seller per week to ensure the platform is accessible and beneficial to everyday users, not just high-volume sellers.

Why does the interviewee consider time spent on the platform as a metric for Facebook Marketplace?

Time spent on the platform is considered as it indicates the value users find in the product. However, the interviewee also acknowledges the potential risk of users spending too much time without finding what they are looking for.

What retention metrics does the interviewee discuss for Facebook Marketplace?

The interviewee discusses 28-day retention for both buyers and sellers, as well as the ratio of weekly active users to monthly active users to gauge the stickiness of the platform.

What are the interviewee's concerns regarding focusing solely on engagement and retention metrics?

The interviewee is concerned that focusing only on engagement and retention metrics might overlook users who are not actively using the product, missing out on potential issues with awareness, acquisition, and the overall health of the platform's user base.

Why does the interviewee believe it's important to consider the ecosystem when setting metrics for Facebook Marketplace?

The interviewee believes it's important to consider the ecosystem because Marketplace is part of Facebook's broader commerce objectives, and metrics should align with the company's goals without cannibalizing other commerce initiatives.