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    Challenge Library/Enterprise Retention Strategy (Principal Product Manager)

    Enterprise Retention Strategy (Principal Product Manager)

    product management
    B2B SaaS
    enterprise
    strategy
    Estimated Time:
    45 minutes
    Status:Not started

    What You'll Be Doing

    Description

    You're joining Meridian as their first Principal Product Manager. Meridian builds project management software for professional services firms — law firms, management consultancies, and accounting practices. They have 1,400 customers, are growing 35% year-over-year, and recently closed a $40M Series C.

    There is a problem the board raised at the last quarterly review: enterprise customers are churning at 3x the rate of the SMB segment in months 6–18 post-launch, and no one owns this problem end-to-end.

    The VP of Product has handed you a data package and a mandate: "Figure out what's happening and bring me a strategy. You own this."

    The data package:

    MetricEnterprise ($50K+ ARR)SMB ($10K> ARR)
    Month 6–18 churn rate31%9%
    NPS+11+49
    Time to first completed project23 days4 days
    Support tickets per seat (months 1–3)7.11.0
    % of feature requests built14%41%
    Avg. seats per account476

    Top reasons cited in enterprise churn interviews (conducted by Customer Success):

    • "The product doesn't reflect how our firm actually works" (mentioned by 68% of churned enterprise accounts)
    • "Onboarding was fine, but we never found a rhythm after the first month" (42%)
    • "We couldn't get buy-in from our senior partners — they just kept using email" (38%)

    You have 45 minutes to diagnose the problem, define your strategy, and propose a scoped first step your team can ship in 8 weeks.

    Constraints to Consider

    • Platform migration: The core engineering team (4 engineers, 2 designers) is committed to a platform infrastructure migration for Q3. There is no capacity for net-new feature development until Q4 at the earliest. Your 8-week first step must work within the existing product surface.
    • CS owns the first 90 days: Customer Success runs the enterprise onboarding playbook for the first 90 days of every new account. You cannot redesign their process — you must design alongside it or hand off to them effectively.
    • Immature analytics: You have the aggregate data above, but no session-level behavioral data, no heatmaps, and no ability to run A/B tests in production this quarter.
    • Senior partner adoption is the kingpin: Meridian's enterprise churn data consistently shows that accounts where fewer than 30% of senior partners are active by month 3 churn at 4x the rate of accounts where senior partners are active. You cannot ignore this.
    • No headcount to hire: You have the existing team and no budget to bring in contractors or new hires for this initiative.

    AI Usage Guidance

    We expect you to use AI tools. We evaluate how you use them — not whether you use them. Evidence of iteration, redirection, and critical evaluation scores higher than a polished output with no process documentation.

    The single highest-signal indicator: your video answer to the mandatory AI question. If you cannot name a specific moment where you redirected AI output, evaluators will assume you did not.

    Mandatory AI question for your video: Walk me through one moment where you disagreed with, pushed back on, or redirected what the AI gave you — and what you did instead. Name the specific moment. Explain what the AI produced that didn't meet the bar, what you did differently, and why.

    Video guidance for this role: Speak naturally and conversationally — as if you're briefing your VP of Product directly. Strategic clarity and opinionated framing matter. This is not a verbal fluency test. We are listening for the quality of your reasoning, not the polish of your delivery.

    Submission: Upload each deliverable as a separate file directly on the Provn platform: your Initiative Brief, your README document (Sections A, B, and C), and your video walkthrough (MP4 or MOV).

    What You'll Accomplish

    Demonstrate the ability to diagnose a multi-signal enterprise problem and identify its root driver from imperfect data

    Build a prioritized product strategy with explicit trade-offs, naming what you chose not to pursue and why

    Design a cross-functional stakeholder alignment plan that differentiates by function and interest

    Define a measurement framework that connects early leading indicators to lagging retention outcomes

    Show how you worked with AI to accelerate thinking — including at least one moment where you redirected it

    How Your Work Will Be Scored

    Product Strategy & Roadmap Ownership (35%): A strong submission names the root cause with evidence, commits to a prioritized strategy with explicit trade-offs, and proposes a first step scoped for the 8-week constraint.Cross-Functional Stakeholder Alignment (25%): A strong submission maps at least 3 functions with distinct interests, identifies the hardest alignment challenge, and proposes a practical ongoing approach — not just a kickoff.Communication & Executive Presence (15%): A strong submission is structured for a senior audience — the recommendation and key trade-off are findable in under 90 seconds; the video walkthrough conveys decision logic, not just a deliverable recap.Measurement & Learning Rigor (10%): A strong submission names leading and lagging indicators with specific thresholds and timeframes, and identifies what changes if early signals don't move.AI Fluency (15%): A strong submission documents at least 2 honest AI interactions in the usage log and answers the video AI question with a specific named redirection moment — not a generic description of "reviewing AI output."

    What to Submit

    No submission guidelines provided.

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