Product Requirements Document for Wethos: Enhancing User Engagement 🚀

This article explores the essential development of a Product Requirements Document (PRD) for Wethos, emphasizing first-time user experiences and optimizing dashboard functionalities.

1. Problem Statement 🔍

An alarming trend has emerged: only X% of new users return to the platform after their initial sign-up. Currently, users are directed to create a project upon entering the system, subsequently landing on a project-focused page, which fails to consolidate critical data like invoices and payments.

Despite the existence of a Get Started checklist, completion rates remain at a dismal X%. User research indicates that those who engage with the checklist—creating projects, adding branding, and generating invoices—exhibit a significantly enhanced return rate. Moreover, insights gathered from user interviews reveal that newcomers grapple with navigating the platform, while long-term users seek comprehensive data to understand their financial health and operational efficiency.

2. Objectives of the Product Requirements Document 📝

The primary objective of the PRD is to create an intuitive homepage/dashboard that acts as a central hub for users. By integrating crucial business metrics such as wins, invoices, and payments, users can efficiently monitor their activities and make informed decisions.

Key Features:

• A maximum of six content blocks to present insights, ensuring clarity without overwhelming users.
• Insights into monthly cash flow, enabling users to understand their financial trajectory easily.
• Quick links guiding users on onboarding and activating their accounts on the platform.
• Timely updates concerning their business cash flow and relevant platform features.

This approach is strategically designed to position Wethos as an indispensable tool for users seeking to enhance their revenue-generating activities.

3. Insights and Metrics to Enhance Engagement 📊

Wethos aims to pioneer a dashboard that highlights more than just tasks; it should empower users by showcasing how they can maximize profits. Unlike competitors, the platform emphasizes actionable insights over logistical tasks.

Monthly Cash Flow Insights:

• Potential Income: Projects in lead status.
• Expected Revenue: Projects that are either won or in-progress.
• Actual Revenue: Payments received from invoiced projects.

This strategic focus creates a clear connection between project management and revenue generation, fulfilling users' desire for integrated financial insights.

User-Centric Features:

• "Tip of the Week": Provide short, actionable insights to help users optimize their business operations.
• Outstanding Invoice Actions: A feature enabling users to stay abreast of overdue or draft invoices, thereby ensuring timely financial action.

These focused enhancements are crafted to hold users accountable and prompt them to take the necessary actions to elevate their business success.

4. Proving Value Through User Retention 📈

The impact of the dashboard extends beyond initial engagement to include long-term retention. Once fully operational, it is anticipated that newly activated users will experience increased login rates, with projections suggesting an improvement of X% in returning users.

The secondary goal is to facilitate users in understanding vital updates and actionable steps, which is expected to elevate the percentage of users managing multiple projects and invoices.

5. Development Timeline and Future Considerations ⏳

The PRD outlines a structured timeline for development:

• Design handoff to stakeholders by November 14.
• User testing to be conducted around November 28, with final designs expected by December 12.
• Engineering reviews and ticket creations by December 15, leading to a targeted launch date of January 18.

Future user behavior will be critical for optimization, especially in areas such as tracking project statuses and ensuring accuracy in the revenue charts.

In conclusion, Wethos’s commitment to user experience through its PRD is not only about delivering insights but also about empowering users to understand and act upon their business metrics effectively. As development progresses, the goal remains clear: to cultivate a product that resonates deeply with users, propelling their businesses towards enhanced financial success.