Let's break the questions down further and try to clarify individual parts:
What does FB live solve today?
Let's assume that facebook live allows it's users to connect with their connections in 1 to many ways. It allows this by realtime audio/visual/textual communication.
Users want to connect in this way generally to "broadcast themselves".
Intended use can also be geared towards seminars, webinars and other group activities.
Business goals for facebook live?
User engagement & retention
User acquisition (as content creators enable potential users to discover the app through some surface-discovery funnel)
User delight that enforces brand awareness and brand loyalty
Support power users - enable business users to reach their user base in an organic way
How do these goals align with the company's mission?
Fits perfectly with "bringing people together" - FB live provides an interface for people who have common interests to be able to connect with each other.
"create tools to build community" - Live is a great tool to have video interactions with topics a group of people may care about.
Let's look at the user segments here:
Consumers - folks who are invited to join a call (either by the caller or via facebook notification that tells them their friends are going live).
Live goers :) - the users that actually broadcast or start a live call. These are the set of users who are taking the initiative and have an intention, topic or agenda in mind to communicate.
For each of these users, the features and solutions will differ. The priorities for the product will have to come from the alignment of business goals and the user needs. Some questions to hold:
What user actions will enable better results for the business goals? Northstar metrics
Which user segment creates more value? Tracking metrics
How do we enable a virtuous cycle between the users? Because doing so will create a feedback loop. Engagement metrics
The live goers are the set of users that will help drive traffic into the product. Their actions and frequency will define success to a great extent. Engaging, enabling and growing this user base is key to success. The consumers do have an important part to play as well. They will need to engage. If they don't engage frequently or act passive throughout the call, chances are, the content is either boring or they don't resonate with it. This will result in lower engagement rate & possibly the association of the product to a negative experience. Let's put a few metrics to make sure the above user segments can be tracked:
|Metrics||What does it tell me about where to focus?||Priority|
|# of FB DAU that share new content with their connections.||This gives a baseline set of potential "live goer" users I would want to see using the FB Live.||5|
|# of the users from the above group that start a FB live call/week||This gives a baseline of all users currently aware of the FB live feature. If this # is low (compared to the one above), we should focus on user awareness.||1|
|# of users joining FB live calls/week and engage in one of the ways available to them: likes, reactions, comments etc.||Gives us a sense of the engagement of consumer users. Also tells us if some call is more engaging than others||4|
|# of users that start a live call but abruptly stop it (within a few minutes) and never initiate again||Control group that we should focus on to see what went wrong?||3|
|# of the user that joins a Live call but exit the call abruptly.||Gives us a place to find out how can we make the product more sticky for these users? (assuming they don’t exit a call due to external circumstances).||2|
|# of users that have a tendency to hop from call to call.||These users know how to use the product but maybe can’t find the right content. How do we keep them engaged or get them to recommendations that will enable engagement behaviours?||6|
The priority above optimizes for growth. Both user and product growth.
Vertical alignment: I would also look for the opportunities of vertical alignment on the value chain because facebook is already doing it well horizontally. A couple of ideas to consider here will be (1) FB Live integration with the connections on all FB platform - sending notifications & call to action for users across Instagram and Facebook for instance. This shall enable tighter integration and foster stronger engagement with a larger group. (2) Recommendations to jump on a live call based on user activity and known events. For instance, recommending a user to start a FB live call if they just reached a major milestone in their life and posted an updated based on it. This will naturally enable users to jump into a “broadcast yourself” mode and may create a net positive experience.
Again these ideas will be depended on some hypothesis and surely some A/B testing to validate if this should be the path forward.
So in summary, my priorities for FB live will ride on the product alignment with the business & user goals. I can measure those based on some of the metrics mentioned above to look for ways to find growth paths. Strategically, vertical alignment with other products within the FB ecosystem may also support the overall business goals and hence a good start for an A/B testing. There will certainly be tradeoffs that we will have to consider. For instance, a wrong recommendation for a user to broadcast their activity may result in low