Carnivore Basic
Developed and brought a whole product to market to solve our customer's need for slower-moving portfolios.
Tools Used
Figma, HTML, CSS, Adobe Photoshop, Adobe Express, Canva, Beaver Builder, AWS, Microsoft Excel, Klaviyo
Skills + Fields
Product Management, Product Design, Marketing Strategy, UX/UI, Front End Development
Role + Timeline
Product Manager, Managed 4 individuals, Duration: 2 months
Eliminate User Issues
"I just wanted to let you know that I canceled my subscription temporarily. I absolutely love you guys, your methods, and the way you interact with people, but I don’t have the time to devote to the process right now." -Bob W
To identify our innovation path, we went straight to the source: our customers. We listened. The feedback on Carnivore Pro was clear: the volume of updates needed for swing trading didn’t suit everyone; the daily wrap was overwhelming for some, and the price—a notch above some competitors—wasn't justifiable for all. However, others adored the swing trading approach and developed emotional connection with the involved daily articles.
Recognizing these concerns, I led the team to a pivotal insight: we were serving two distinct customer segments with divergent needs. This realization steered us away from a one-size-fits-all approach and towards the development of a second product. To create this new product we created a user persona for the second customer segment
Our strategy was twofold: to retain our current customer base that valued our product's complexity and pace (1) while simultaneously addressing the needs of those seeking a more streamlined experience (2).
In response to these insights, I was tasked with the creation of 'Carnivore Basic' – a product designed to distill the trading process into a more accessible format without compromising on the quality and depth our clients expect. This approach not only expanded our market reach but also reaffirmed our commitment to customer-centric innovation and inclusive product design.
The Birth of Carnivore Basic
Before beginning development, we prioritized understanding the customer and mapping out the user journey. Our product development was centered around the wants and needs of our target user: individuals who lack the time for swing trading but desire access to high-performing stock picks. With our team of advanced traders, we were confident in our capability to deliver this new product.
As the head of product for this project, my role was to discern how to minimize our users' cognitive load and determine which features to offer them. In the real world, this also meant managing perceptions, delegating tasks, and establishing a timeline for external deliverables. Following extensive competitive research, review analysis, and iteration on preliminary concepts, I devised the structure outlined below.
Developing The Core Product
I began by developing a user portal tailored for the basic user. Although I was aware this would introduce an extra step, the book “Don’t Make Me Think” advocates for the 'scent of information,' a concept which reinforced my decision to add this feature. This concept suggests that "users don’t mind numerous clicks as long as each one is straightforward and they remain confident that they’re on the right path" (DMMT, p.43). Thus, as a theme in this development, I often focused on simplicity. To the right, you will see the portal with the intermediate portfolio(left) and the daily wrap(right), with an onboarding CTA below.
Developing The Portfolio Page
After spending time learning about different financial metrics for accurate tracking for this portfolio, I met with two of the founders to workshop early iterations of this portfolio and conduct competitor reviews(images shown below). The goal was to simplify the trading experience by putting high-quality long-term stocks in their hands and giving them enough information at hand to vet a potential investment decision. We settled on the format to the left.
However, the information in the chart is quite two-dimensional, so I wanted to supplement it with a narrative that could help people connect with the stocks. By providing them with information, we empower them to make their own informed decisions. Additionally, this approach was a strategic move to differentiate our product from competitors'. Many companies suggest what to buy, but backing recommendations with evidence truly elevates our offering. In terms of execution, my aim was to develop a user interface (UI) that was clean and a structure that was logical to facilitate easy information gathering.
Developing The Daily Wrap Page
One of the things we learned from long-time Carnivore subscribers is that they like to receive daily media and entertainment as much as they do the actual financial information. Though we specialize in distribution of financial content, our entertainment and community-building is our differentiating factor. So, we wanted to carry these core values over to Carnivore Basic with the Daily Wrap. Here, because the stock portfolio is slower moving, we want to keep engagement up by giving them daily updates on the market and any news related to the stocks in their portfolio. This not only keeps them informed but helps them build a relationship with our brand and their stocks.
Managed a Team of Individuals to Fully Develop Product
This project was the first time in a company setting I was able to lead the charge fully. Having understood the company through working with them for several months I was able to use my interpersonal relationships to help secure buy in and execution of creation and promotion of this product. Below is an exact list of my team members and their roles.
| GH Developer | Tyler | Monica | Leadership | Trader Z | Macy (Me) |
|---|---|---|---|---|---|
| Creating the backend infrastructure and subscription functionality | Create the automation for daily publication | Develop promotional emails for win-back campaigns and manage conversion statistics | Approve designs, finalize pricing, engage with investors on progress | Create daily content and list of stocks for subscribers | Manage team members, develop product front-end, coordinate launch and execute value delivery |