Facebook Money-Saving Product: Goal, Target Users, Prioritized Features and Metrics

You have just joined Facebook as a product manager, and your first assignment is to design an app that helps people save money. Explain what the app should achieve for its users and for Facebook, choose who it is for, propose and prioritize what it does, and describe how you would measure success. ```hint Unpack "saving money" Break the phrase into the different ways a person can end up with more money left over, then ask which of those Facebook is better placed to help with than a bank or a budgeting app. ``` ### Clarifying Questions - Does "save money" mean spending less on what people buy, putting money aside toward goals, or both, and is earning more in scope? - Should this be a standalone app or a feature inside the Facebook app? - What does Facebook want from it: engagement, a new revenue line, or goodwill and trust? - Which markets are in scope, and may the app connect to bank accounts or move money, which brings financial regulation and partners? ### What a Strong Answer Covers - A goal for users and for Facebook, and the advantage Facebook brings that finance apps lack - User segments compared, with one chosen and justified - That segment's pain points, and solutions ranked with explicit criteria including feasibility, regulation and trust - A first version scoped tightly enough to build, plus a primary metric with guardrails - Risks that come with money on a social platform (financial privacy, scams, trust in Facebook) and how to reduce them ### Follow-up Questions - Many people are reluctant to share financial information with Facebook. How would your design and launch earn that trust? - How would you tell whether the app caused people to save, rather than attracting people who already save? - If users saved more but the app sent little activity back to Facebook, would you keep investing in it, and why?