Coinbase Product Manager Interview Questions & Answers
Below is a list of our Coinbase interview questions. Click on any interview question to view our answer advice and answer examples. You may view 11 answer examples before our paywall loads. Afterwards, you'll be asked to upgrade to view the rest of our answers.
Table of Contents
Discovery
1. Describe a successful product launch you were responsible for.
Why the Interviewer Asks This Question
Coinbase product managers play an integral role in defining the strategy for the release of new features and products. This important question ensures a candidate can demonstrate success during the product launch phase of product management.
Written by Karrie Day on April 25th, 2022
Remember To
Remember to include a description of the pre- and post-launch activities you helped coordinate. Additionally, include any metrics you tracked that clearly demonstrate the success of the launch.
Written by Karrie Day on April 25th, 2022
Answer Example
"I worked with an operations team that managed network bookings that allowed customers to transmit media resources. My client employed a team of schedulers and operators that worked in a fast-paced environment that required them to handle new requests and simultaneously oversee the success of bookings that were in flight. The work was highly technical and mission-critical. Customer service issues meant a significant loss of revenue and sometimes the loss of a client when things went poorly. I was asked to develop a strategy to reduce the chaos the staff experienced.
I developed a plan to build out self-service booking functionality. My clients agreed that allowing some customers to book their own services would significantly cut down on the amount of multi-tasking their staff was required to do. I studied their operations and projected that booking automation could reduce multi-tasking by sixty percent on busy days. We quickly gained approval to move forward, and I worked with one of our in-house development teams to design and build the solution based on the results of several customer focus group sessions I facilitated.
We decided to house the new functionality within a site our customers were already using. This helped them to feel like the new service we were offering was integrated with our overall brand. I worked with one of our top customers to test the new features. I offered them a price reduction during the beta trial period. They provided a lot of helpful feedback, and I coordinated a series of changes on their behalf with the development team. They felt strongly that the price reduction would be an important feature to offer going forward, so I worked with my clients to test the feasibility of a change in the rate structure.
Prior to launch, I coordinated a marketing campaign with my client's marketing and sales teams. We used a number of channels including email, pop-ups, and direct communication. We offered easy-to-understand instructions for the new service as well as an explanation of the discount we were offering as an incentive to use the new service. I also helped coordinate the training of our internal staff to handle the new workflow accordingly.
We launched the product and I worked alongside my clients for the first two weeks of the launch to ensure that I was available to help resolve any issues. I triaged technical problems and sent them to the development team as necessary. I also reached out directly to several of the customers who used the service in the first few weeks to thank them and ask for feedback.
I tracked metrics on the number of bookings that our customers were able to schedule. It started slow, but eighty percent of our customers transitioned to booking online within a year. Additionally, we saw a seventeen percent reduction in scheduler and operator errors within the first two months of our launch period. My clients typically had to offer free future bookings when errors occurred, and they reduced the amount of money wasted on free bookings by $212k in the first six months.
My clients were thrilled about the savings and their staff raved about how much less stressed they felt with the reduced time spent on the phone scheduling bookings. The sales staff repeatedly brought back positive customer feedback. They stated that our customers appreciated how easy the service was to use and that it saved them time and money as well. The solution was relatively cheap to build and support, so it was a win for everyone."
Written by Karrie Day on April 25th, 2022
Discovery
2. How does the phrase "never stop learning" make you feel?
Why the Interviewer Asks This Question
Coinbase leverages technology to build products to serve the crypto trading community. These two areas combine in an extremely fast-paced environment that is constantly changing. Interviewers ask this question to assess how a candidate feels about the continual learning that is required for product managers at Coinbase.
Written by Karrie Day on April 25th, 2022
Remember To
Remember to frame your feelings about continual education in a positive light. Interviewers can often sense when a candidate is inauthentic, so it is important to be honest. However, it is expected that a candidate who interviews for a role at Coinbase is at least comfortable with the idea of dedicating a portion of their time to learning about the latest crypto and technology developments on a regular basis.
Written by Karrie Day on April 25th, 2022
Answer Example
"I feel that everything we experience is shaped by information in one way or another, and there is always an opportunity to observe and learn. The phrase 'never stop learning' feels comfortable because resonates with how I view my life experiences.
On a professional level, it is expected that I will always need to learn within the roles I seek out. I genuinely enjoy learning new things and working with complex concepts. I like to be on the edge of new technology alongside the engineers that develop it. I follow the latest in crypto and fiat trading and I expect that to continue if I am hired for this position. Applying a 'never stop learning' mindset feels comfortable in this capacity as well."
Written by Karrie Day on April 25th, 2022
Discovery
3. Describe your communication style.
Why the Interviewer Asks This Question
Communication skills are integral to successful product management. Thie question is asked to determine how well a candidate's approach aligns with the needs of the Coinbase teams they will be working with.
Written by Karrie Day on April 25th, 2022
Remember To
Remember to use the terms "direct" and "active" somewhere in your response. Coinbase is open and clear about seeking candidates that use direct communication and active listening skills.
Written by Karrie Day on April 25th, 2022
Answer Example
"I would describe myself as a hybrid communicator. I prefer to align my approach with the situation involved and the people I am communicating with. I am naturally a very direct communicator. I like to get to the point, and I often use an approach I learned in a facilitation class called 'give the headline first' to help people know immediately where I am going in a conversation. However, I dial that back and use other styles of communication when I notice that a direct approach is not the best fit. This is true often in situations that are emotionally charged. I am familiar with the DISC communication style assessment and I see value in all of the four approaches.
I also lean on active listening. I realize we often work in a fast-paced setting with a lot of distractions, but I find that giving my full attention as much as possible offers big rewards. I like to observe others and empathize with what they are feeling in addition to hearing the words they choose. The information I gather using those skills is often the most important information I gather in a conversation. It helps me to determine how to respond in an authentic way that aligns with the style of the person or group I am communicating with."
Written by Karrie Day on April 25th, 2022
Discovery
4. What excites you about the product manager role?
Why the Interviewer Asks This Question
Coinbase product managers drive change within Coinbase products. Interviewers ask this question to help them identify candidates that are excited about the aspects of this role that allow for successful product lifecycle management.
Written by Karrie Day on April 25th, 2022
Remember To
Remember to include several aspects of the product management role in your response. Product management is multi-faceted and complex. Interviewers seek candidates that are enthusiastic about more than one of their responsibilities.
Written by Karrie Day on April 25th, 2022
Answer Example
"Product management excites me because it weaves together so many different areas of responsibility. I enjoy variety in my work and this role allows me to change my focus frequently. I am creative and I like to do big picture thinking. This role affords me the opportunity to work in a visionary capacity. Conversely, I am analytical, and this role allows me to sift through the data to find the metrics needed to support strategic decisions.
I also love working as a product manager because I genuinely enjoy people and working on behalf of my customers. I value learning about their cultures, their needs, and their wants and delivering products that improve their lives in some way. That is very fulfilling for me. Likewise, the product manager role allows me to work with a variety of teams internally. I enjoy learning about my teammates and working together to develop products that perform well.
Finally, I am motivated by watching others find value in something I had a part in delivering. Coinbase has a huge user base, and it would be amazing to positively affect that many lives. I would be honored to use my skills to contribute to the mission of Coinbase in this capacity."
Written by Karrie Day on April 25th, 2022
Discovery
5. What experience do you have working in virtual teams?
Why the Interviewer Asks This Question
Many of the positions at Coinbase are remote. Additionally, most work is done in a team setting. This question is asked to determine if a candidate has experience that will contribute to their success working in this type of environment.
Written by Karrie Day on April 25th, 2022
Remember To
Remember to describe any behavioral patterns you have developed that lead to success in a virtual environment in addition to describing your success. Candidates that are able to self-manage and create an environment in which they can thrive are valued by companies who work in virtual settings.
Written by Karrie Day on April 25th, 2022
Answer Example
"I have over 15 years of experience working in virtual teams. As a business analyst, I served clients that were located all over the world. I worked in scrum teams and we asked our management to approve a trial work-from-home initiative. That was my first virtual experience, and I have worked in a completely virtual or hybrid setting ever since. I have experience facilitating meetings with most of the major collaboration software companies I have used over the years. I have also led various team-building activities to help my teams stay connected.
I have developed a number of practices that help me to stay on track while working from home. I believe in setting up an optimal physical environment, and I change locations from time to time when I need inspiration or a change of pace. I also do a number of things to combat the isolation that can creep in after several days at home alone. Finally, I work hard to keep a regular schedule. I am flexible when the needs of my team require me to shift, but otherwise, I try to log in around the same time every day and take regular breaks. I find that keeping a schedule helps me to stay focused."
Written by Karrie Day on April 25th, 2022
Discovery
6. What does economic freedom represent to you?
Why the Interviewer Asks This Question
The mission of Coinbase is to increase economic freedom around the world. Interviewers at Coinbase ask this question to understand a candidate's individual perspective of this important component of their company vision.
Written by Karrie Day on April 25th, 2022
Remember To
Remember to focus your answer on the aspects of Coinbase that set the stage for financial freedom and not on the political and cultural reasons that financial strife exists. Coinbase is very clear to state that they do not engage in social or political activism. Candidates who promote a social agenda in their response may not be selected for a follow-up interview.
Written by Karrie Day on April 25th, 2022
Answer Example
"Economic freedom is about creating choice and flexibility in my life. It sets the stage for the ability to choose where to live, how to live, and where to invest my energy. I value having the freedom to choose where to work because I am in alignment with the goals of a company.
I am excited to offer my talents to a company offering a positive service to the world. Crypto investing and the products companies like Coinbase offer have created an environment in which the dream of economic freedom has become a reality for many people. I would be honored to contribute to that mission personally."
Written by Karrie Day on April 25th, 2022
Discovery
7. What are some ways you feel you can help us raise the bar at Coinbase?
Why the Interviewer Asks This Question
Many companies aim to hire "top talent". At Coinbase, this means hiring a candidate that brings a specific set of talents and skills that complement their team in such a way that the team is able to perform at a higher level after the candidate joins the team. Interviewers who ask this question seek candidates with talents that are in direct alignment with the needs of their team.
Written by Karrie Day on April 25th, 2022
Remember To
Remember to highlight any applicable talents or behaviors you have that are unique or difficult to find in candidates. Offering value that sets you apart from other candidates may raise your chances of being hired.
Written by Karrie Day on April 25th, 2022
Answer Example
"I know that Coinbase seeks to hire candidates that are passionate about crypto. That describes me well, and I would bring that passion to the products I am responsible for. I have been trading crypto since 2012. I have used almost every platform available and I am very knowledgeable about the pros and cons of each. I am also a member of several crypto enthusiast forums online. I bring an expert-level customer perspective of someone who has been through all of the phases. I remember what it was like as a beginner, and I understand what the needs of a Coinbase Pro user are as well. I am adept at helping others understand customer perspectives and I feel my history and this skill set combined could help me to raise the bar of the teams I work with."
Written by Karrie Day on April 25th, 2022
Discovery
8. Describe a feature you love from one of our competitor products.
Why the Interviewer Asks This Question
Coinbase seeks to hire product managers that are passionate and knowledgeable about crypto trading. This question is asked to ensure a candidate is knowledgeable about competitor products in addition to the products offered by Coinbase.
Written by Karrie Day on April 25th, 2022
Remember To
Remember to describe the value that the feature you describe offers to you. Also, it may be more impactful to select a feature that has a tangible benefit over one you love for aesthetic or other personal preference reasons.
Written by Karrie Day on April 25th, 2022
Answer Example
"One of the reasons I invest in crypto is that it offers a means to create financial freedom for myself and my family. It may sound trite, but it is true to say that every little bit I earn counts. I love that Robinhood does not charge a fee for deposits, trades, or withdrawals. They do not have as many trading options as Coinbase, but when I trade the more popular cryptocurrencies, I use Robinhood to avoid the fees."
Written by Karrie Day on April 25th, 2022
Discovery
9. What types of individuals do you typically seek out as mentors?
Why the Interviewer Asks This Question
This is a behavioral question aimed at understanding your learning preferences. Coinbase thrives on teamwork, and interviewers are interested to know that a candidate is concerned with professional growth and understands the value of learning from others.
Written by Karrie Day on April 25th, 2022
Remember To
Remember to include mentors that offer expertise in leadership or soft skills in addition to product management-specific expertise. Coinbase values well-rounded candidates who demonstrate a willingness to grow in a variety of ways.
Written by Karrie Day on April 25th, 2022
Answer Example
"I seek out a variety of mentors based on their strengths. I first look for mentors who are strong in the specific areas in which I need to grow. For example, when I was early in my career, I needed to learn how to communicate properly with executives. I asked a director I admired if I could shadow her and attend presentations with our executive stakeholders. Through observation and her direct guidance, I learned a lot about how to approach these important conversations and what level of detail was appropriate.
I also seek out mentors who are experts in my field. Sometimes I have the good fortune of working with them directly. I follow others online. I learn about trends and seek to understand their thought processes so that I can grow my strategic and critical thinking skills.
Additionally, I learn a great deal from the mistakes of my mentors. I enjoy working with mentors who are honest and vulnerable and willing to teach what they have learned through trial and error. I find these interactions to be incredibly valuable.
Finally, I consider many of the people I teach or mentor as mentors as well. They offer me the ability to improve upon my teaching style and leadership skills. Their feedback is critical as I grow in my roles as a product manager and a mentor of junior product managers."
Written by Karrie Day on April 25th, 2022
Discovery
10. What software development methodologies do you have experience working with and which is your favorite?
Why the Interviewer Asks This Question
Many Coinbase product managers work directly with technology teams. Interviewers ask this question to determine if a candidate has experience working with the specific processes used by teams to develop software products.
Written by Karrie Day on April 25th, 2022
Remember To
Remember to include the reasoning behind your selection of your favorite methodology. There is no specific right answer, but your answer should demonstrate your preference is based on the benefits offered by the methodology you select.
Written by Karrie Day on April 25th, 2022
Answer Example
"I have experience in traditional waterfall software development as well as several agile approaches including scrum, kanban, and rapid application development.
My favorite is scrum. I really enjoy the principles scrum is built upon and how it offers a bit more structure than rapid app, or kanban. I like working with self-managing teams and a skilled scrum master adds a ton of value to the product development process. I also appreciate the flexibility of how backlogs are prioritized and managed. Product backlogs allow me to capitalize on new opportunities as they arise in my role as a product manager."
Written by Karrie Day on April 25th, 2022
Discovery
11. Describe a quick-hit opportunity you identified and implemented.
Why the Interviewer Asks This Question
Coinbase product managers are expected to be able to pivot quickly and implement "low hanging fruit" opportunities as they are identified. Interviewers at Coinbase ask this question to ensure a candidate can perform this level of tactical analysis in addition to more strategic work.
Written by Karrie Day on April 25th, 2022
Remember To
Remember to include a description of the benefits that were realized as a result of the improvement you were responsible for. The improvement should clearly demonstrate value to external customers, internal operations groups, or both.
Written by Karrie Day on April 25th, 2022
Answer Example
"I worked with an operations team that managed client billing for a large studio company. The company normally booked studio resources in daily increments, but they allowed clients to split studio time when the crews could be shared across both groups over the course of a day.
These split bookings often resulted in a significant amount of billing errors that my clients had to sort out and correct each month before clients were officially billed. Additionally, the project managers responsible for the booking process frequently complained about all of the extra data entry involved in splitting the resources correctly in the scheduling and billing systems.
I worked at this company as a product manager responsible for various features on the company's website. I often participated in customer outreach programs and billing errors came up frequently. Billing was not my area, but I reached out to the operations team to find out what the process for billing splits was anyway. I was hopeful that there was something relatively easy I could do to help improve customer satisfaction.
After reviewing their workflow, I asked if it would be possible to streamline all of the shared bookings through two project managers who would be trained to specialize in the process. My customers agreed. Additionally, I worked with a development team to generate a query that identified shared bookings within the system. We assigned two junior accounting analysts to the task of reviewing the report regularly and addressing any billing or scheduling errors. They also worked directly with the project managers to answer any data entry questions as various scenarios came up.
We were able to implement this change in process in less than two weeks. Billing errors dropped off significantly and were almost eliminated entirely within two months. The query cost less than one thousand dollars to develop, and the staff augmentation was free. We sped up the monthly billing reconciliation process by 30 staff hours a month, and our external customers greatly appreciated the elimination of the errors and the time savings on their end."
Written by Karrie Day on April 25th, 2022
Discovery
12. What are some of the qualities that make an excellent product manager?
Why the Interviewer Asks This Question
Coinbase seeks product managers who have skills and behavioral patterns that support their company's mission and culture. This question is asked to determine if a candidate's vision for the ideal qualities of a product manager aligns with the specific needs of Coinbase.
Written by Karrie Day on April 25th, 2022
Remember To
Remember to include qualities that would be advantageous from a business perspective as well as a cultural perspective. Coinbase is very clear about the soft skills they seek, and interviewers value candidates who demonstrate an understanding of these qualities in their responses.
Written by Karrie Day on April 25th, 2022
Answer Example
"Excellent product managers exhibit a mix of qualities, but I believe there are five main qualities that contribute directly to success in the role. First, product managers need to have solid product development experience. They need to know how to drive product delivery from the inception phase all the way to the end of a product's lifecycle. This requires product managers to understand the processes of several business domains such as engineering, marketing, finance, accounting, customer service, legal, etc. Excellent product managers understand how the work they do relies on all of these groups, and they collaborate in the right way at the right time.
Second, product managers need to be creative and visionary leaders. Product managers are typically responsible for developing and socializing the vision for the solutions they are responsible for. These responsibilities rely heavily on a product manager's intuition and creative thinking abilities.
Third, product managers need strong analytical skills. Excellent product managers understand how to develop strategies based on metrics. They have experience performing competitor analysis, market analysis, product performance analysis, and customer experience analysis. They know how to sift through large data sets to draw the big picture conclusions necessary to make tactical changes while working toward long-term strategic milestones. The roadmaps they build are easily understood and are backed by reliable analysis.
Fourth, excellent product managers have a passion for creating optimal customer experiences. They have the ability to think from the perspective of the customer. They regularly and convincingly advocate for their customers. They are skilled at customer outreach and take pride in resolving issues quickly on behalf of the customer. Excellent product managers consistently deliver value.
Finally, I believe excellent product managers are strong facilitators and leaders. They understand the importance of collaboration and leadership through influence. They work to align the teams they work with around a shared vision, help to resolve conflicts, and remove roadblocks to success. They have a positive energy that serves to motivate others to be successful."
Written by Karrie Day on April 25th, 2022
Discovery
13. Describe a feature you would like to see added to the Coinbase app.
Why the Interviewer Asks This Question
Product managers are responsible for driving the vision for the products they help to deliver. Interviewers ask this question to identify candidates who can provide suggestions that are in line with the mission and vision of Coinbase.
Written by Karrie Day on April 25th, 2022
Remember To
Remember to discuss the value you would expect to see if the feature were to be included in your answer. Improvements with tangible potential for revenue generation, user base increase, or customer satisfaction are more impactful than those with benefits that are ambiguous.
Written by Karrie Day on April 25th, 2022
Answer Example
"I am a crypto investor and I have used a number of platforms in the past including Coinbase. I really enjoyed how user-friendly Coinbase was for me as a first-time investor, but I moved to other platforms over time mostly due to the fee structure.
I did some research prior to interviewing here and one of the most common themes that I found was dissatisfaction with the Coinbase fees for deposits and trades. I think it would be worthwhile to explore a reduction or elimination in fees for deposits. Alternatively, a flat fee could also make sense. This would allow users to move money into their account on-demand without worrying that they are losing their potential profits before they even trade.
In the event trade fees were reduced, I think it could make sense to adopt a volume-based reduction. This would serve as an incentive for customers to trade at higher volumes to save money. This may entice more seasoned investors who leave in favor of lower fee products like eToro to stay. This may also help to lure new customers from other more expensive platforms aimed at new investors."
Written by Karrie Day on April 25th, 2022
Discovery
14. What do you dislike about the product management role?
Why the Interviewer Asks This Question
Product managers play a role in a wide array of processes and have responsibility for the success of products that are critical to the businesses they work for. Interviewers ask this question to determine the areas of the product management process where a candidate may require additional support. Also, this question offers an opportunity for a candidate to demonstrate vulnerability and honesty during an interview.
Written by Karrie Day on April 25th, 2022
Remember To
Remember to include a strategy for coping with any negative aspects you share about working in the product management role. The ability to self-manage is an asset that companies value in the candidates they seek to hire.
Written by Karrie Day on April 25th, 2022
Answer Example
"I really enjoy working as a product manager. Many features of the role align well with my personality and professional goals. Working in this role gives me a chance to regularly leverage my strengths. However, I have noticed there are a couple of difficult aspects of the role that require extra effort to ensure that I stay balanced and happy.
Product managers sometimes stick with a product or a feature set for a long time. Bringing a new set of features to life is always exciting, but the work can feel monotonous after a while. I enjoy working at companies that embrace cross-training opportunities and moving around regularly. I also like to introduce change with fun and new activities in my personal life to help address this potential issue.
The other main thing I struggle with from time to time is the imbalance in the accountability structure of some of the companies I have worked for. Product managers are sometimes held wholly accountable for the success or failure of a launch. While they are responsible for many of the aspects that contribute to the success of a product, the development and support of a product require work from many individuals who product managers do not have direct influence over. I am passionate about creating excellent customer experiences through end-to-end ownership. I remind myself from time to time that negative feedback is not always a reflection of my work, but there is always something I can do about it. I realize my best strategy is to lead through influence and example while proactively motivating others to adopt our customer's perspectives while they work."
Written by Karrie Day on April 25th, 2022
Discovery
15. Describe your experience working in a cross-functional team environment.
Why the Interviewer Asks This Question
Coinbase product managers work across a number of cross-functional teams. Interviewers ask this question to ensure a candidate has experience participating in end-to-end product development while collaborating in a cross-functional team setting.
Written by Karrie Day on April 25th, 2022
Remember To
Remember to include the cross-functional development roles you have experience working with in your answer (engineer, project manager, program manager, analyst, user interaction designer, etc.). Also, be sure to include examples of the roles you worked with that supported specific phases of product ownership such as support, legal, and marketing.
Written by Karrie Day on April 25th, 2022
Answer Example
"I was an analyst and a technical project manager for a healthcare solutions company early in my career. I was responsible for coordinating the work of a cross-functional team of analysts, engineers, and testers. Additionally, we worked with a number of shared services groups including our architecture, database, release management, and support teams.
I transitioned into product management three years ago and serve as a product manager at my current company. We develop SaaS project management solutions. I am responsible for a series of dashboard features that communicate high-level assignment, milestone, budget, and capacity data. I work with several cross-functional engineering teams on projects that touch on these features. I also partner with architects, senior analysts, designers, and various people within our sales, marketing, billing, and support teams."
Written by Karrie Day on April 25th, 2022
General
16. What are some of the major data elements that should be included when analyzing market opportunity for a product?
Why the Interviewer Asks This Question
Product managers are expected to understand how to properly assess the market in which the products they are responsible will perform. Coinbase interviewers ask this question to ensure that the product manager they select understands the standard considerations they will be expected to make in their role.
Written by Karrie Day on April 25th, 2022
Remember To
Remember to include the assessment of the total market available in addition to the portion a specific product is expected to represent. Executives interested in market analysis details want to understand the size of the whole market as well as the market share a product manager anticipates their product will align with. This information is vital to understanding the growth potential for products and making a determination of how much to invest in development.
Written by Karrie Day on April 25th, 2022
Answer Example
"The first data element I work to understand is the TAM or the total addressable market. This represents the total dollar amount that is currently spent on the type of product I am analyzing. I also work to understand projections for growth within the product sector. The future TAM can be even more important to understand when analyzing a product that will take time to develop and release.
I then work to estimate the portion of the total market share that the product I am working with will be able to represent. I typically offer a range that allows for unforeseen changes in the competitor market and shifts in my company's ability to quickly release value-add features.
The combination of these data elements helps me to understand the space a product currently occupies within the market, the potential for growth, and the level of effort required to capture a portion of the market from competitors."
Written by Karrie Day on April 25th, 2022
General
17. Describe the 80/20 rule in a product management context.
Why the Interviewer Asks This Question
Coinbase interviewers ask this question to determine if a candidate understands this key principle that many companies have adopted over the years. The Pareto Principle is a simple method used to focus workstreams and encourage alignment among employees, and interviewers seek candidates that understand how to apply it properly.
Written by Karrie Day on April 25th, 2022
Remember To
Remember to define how the 80/20 rule applies specifically to product management. Also, including an example of how you have applied the principle in the past will add value to your answer.
Written by Karrie Day on April 25th, 2022
Answer Example
"The 80/20 rule states that eighty percent of the value of the work done by an individual--on a project or at a higher level--will be derived from focusing on twenty percent of the most impactful work. For example, Microsoft found that they could solve eighty percent of the crashes and errors in their software by resolving the top twenty percent of the reported issues with their systems. In a product management context, the rule is used to identify the twenty percent of features that will generate eighty percent of the value that can be derived from feature development.
I applied this principle directly in my work as a product owner at my last company. I held brainstorming sessions with my business owners and stakeholders to drive out a list of opportunities and issues with our product. We then did an impact assessment and used it to help us prioritize the list. We had much more work than we had left in our budget for the year, so I suggested we apply the 80/20 rule. We identified the top twenty percent of the items we had prioritized and identified those items as our features that would be the most impactful to work on. We left the other items in the list as possibilities to work on once the top twenty percent was complete and we quickly found that many of those items became non-issues once the most impactful items had been developed and released.
The top twenty percent created a significant reduction in operating costs and allowed for staff augmentation. We were also able to increase sales. Once we got into the forty to fifty percent range of the features, we noticed the impact dropped off sharply and we decided to move resources off of the development of this product and onto some higher priority work for another product."
Written by Karrie Day on April 25th, 2022
General
18. What are some ways you are able to determine the level of user satisfaction with a product you are responsible for?
Why the Interviewer Asks This Question
Product managers at Coinbase are passionate about creating and maintaining an optimal customer experience. Interviewers ask this question to assess a candidate's knowledge of how to monitor the health of and customer satisfaction of a product.
Written by Karrie Day on April 25th, 2022
Remember To
Remember to include a variety of internal and external data sources in your response. For example, it would be important to continually read online reviews of your product in addition to monitoring customer support ticket metrics.
Written by Karrie Day on April 25th, 2022
Answer Example
"There are a number of methods I use to analyze the level of user satisfaction for a product I am responsible for. Obviously, usage and sales that increase or decrease shortly after a launch are very telling. I would monitor new user counts, returning user counts, and cancellations very closely. If applicable, I would also monitor time spent using my product as this may also be indicative of user satisfaction levels.
Additionally, I would work with internal support teams to assess any themes in user satisfaction that are related to the product. An increase or decrease in reports of bugs, training issues, or performance issues would also help me to assess the level of customer satisfaction.
Finally, I would research user satisfaction online. I would read blogs, forums, and articles to get a sense of how users feel about the product. This information helps to identify the features that users are the happiest with as well as changes they wish to see in the future. This research also helps provide context for the metrics I monitor internally."
Written by Karrie Day on April 25th, 2022
General
19. What is an NFT?
Why the Interviewer Asks This Question
Coinbase strives to hire candidates that are passionate about crypto and other digital trading technologies. Interviewers ask this question to determine if a candidate is knowledgeable about this industry concept behind one of the growth products Coinbase is actively pursuing.
Written by Karrie Day on April 25th, 2022
Remember To
Remember to offer an easy-to-understand example or metaphor in your example. Product managers are often required to teach others about new and highly technical concepts before they gain popularity. Interviewers appreciate candidates who demonstrate they can easily create understanding in these situations.
Written by Karrie Day on April 25th, 2022
Answer Example
"NFT stands for non-fungible token. NFTs are digital proofs of authenticity that are used to trade digital assets like music, art, or real estate. Non-fungible means that the token is unique and cannot be changed. Digital assets are easily copied and trading an asset with an NFT proves that the asset is the original and a valid purchase. The concept is similar to selling an antique or sports memorabilia item alongside a certificate of authenticity.
NFT exchanges leverage the same blockchain technology that is used by Bitcoin and other cryptocurrencies. Several crypto trading platforms now offer NFT purchase and exchange in addition to crypto trading."
Written by Karrie Day on April 25th, 2022
General
20. Who are the major competitors of Coinbase?
Why the Interviewer Asks This Question
Crypto traders have a variety of trading platforms and tools available to them. Interviewers ask this question to determine if a potential product manager is aware of the major competitors within this fast-paced and continually evolving market.
Written by Karrie Day on April 25th, 2022
Remember To
Remember to focus your answer on the competitors that have a sizable market share. Be sure to indicate the status of any small or new products and why you feel they are worth noting if you include them within your response.
Written by Karrie Day on April 25th, 2022
Answer Example
"Coinbase is well known in the crypto market and has a reputation as a best-in-class product for traders that are new to crypto and need educational services in addition to a trading platform. Coinbase is also known as a safe option for buyers who are worried about security and regulation issues.
Robinhood is an example of another easy-to-use product that is a competitor of Coinbase in the first-time user market. They have fewer options and less educational material, but their fees are significantly lower than Coinbase. Etoro is also a strong competitor. They currently have over 20 million users and an attractive spread-only commission model. There are others, but Gemini especially is worth mentioning as well. They have 13 million active users and they have a strong record of growth.
Binance is another competitor. They do well in the large volume space and also attract day traders. They recently reported their user base to be 28.5 million. They would be more of a competitor for the Coinbase Pro products."
Written by Karrie Day on April 25th, 2022
General
21. What are some of the considerations and activities included in competitive analysis?
Why the Interviewer Asks This Question
Coinbase operates in a fast-paced and highly competitive market. Product managers are expected to be able to assess their competitors and make recommendations for product strategy. Coinbase interviewers ask this question to test a candidate's ability to predict how product feature offerings will perform in the crypto trading and education markets.
Written by Karrie Day on April 25th, 2022
Remember To
Remember to include activities involved in understanding your own company's position within the market the product serves. This important information helps provide the context necessary for relevant and impactful competitive analysis.
Written by Karrie Day on April 25th, 2022
Answer Example
"The first important function of competitive analysis is for a product manager to understand their own company's position. This includes assessing how the products they are responsible for contribute to the company mission and any specific goals. This may also include performing a SWOT analysis to identify strengths that can be maximized, weaknesses to reduce, opportunities to capitalize on, and threats to mitigate.
Once a product manager has the appropriate context to work from, they can identify their top competitors as well as those who may be future competitors. A feature-by-feature comparison is a helpful next step to establishing the relative value of each product and determining where gaps exist. This may include using demo versions of competitor products or posing as a customer to test how they perform in customer service scenarios.
Additionally, I am sometimes I am able to gather information on how much each company invested in their products, what current projects they are working on, and what kind of staff they employ. This information usually comes through direct conversations with peers and others in my network. I find this information helpful specifically when trying to mitigate threats or beat the competition to the market."
Written by Karrie Day on April 25th, 2022
General
22. What is technical debt, and why is it important to invest time addressing it?
Why the Interviewer Asks This Question
Product managers at Coinbase play an integral role in determining the features that are built within a product, but they are required to collaborate with engineering teams in many cases. The discussion of strategies to resolve technical debt represents one of these collaboration activities. Interviewers ask this question to ensure a candidate understands the need to address this important product development concept.
Written by Karrie Day on April 25th, 2022
Remember To
Remember to include several reasons why technical debt might occur in your response. Technical debt is a shared team concern, and the causes are both business and technical in nature.
Written by Karrie Day on April 25th, 2022
Answer Example
"Technical debt represents the cost that must be incurred to address technical quality issues that occur for various reasons during the development process. The root cause of technical debt can be timeline constraints, lack of knowledge/expertise, budget issues, or an inability to leverage the best technology available at the time of development.
It is important to address technical debt on a continual basis. Ignoring it can result in future difficulty in making important product changes. A certain level of debt is to be expected, but teams should regularly dedicate time to assess debt levels and determine why debt has occurred. Teams should also develop strategies to address any avoidable or accidental technical debt causes in the future."
Written by Karrie Day on April 25th, 2022
General
23. What are some of the most important factors to consider when prioritizing product development work?
Why the Interviewer Asks This Question
Product managers work to develop product roadmaps and prioritization of specific features for their products. This question is asked to gain insight into a candidate's thought process during this important function of the product manager role.
Written by Karrie Day on April 25th, 2022
Remember To
Remember to demonstrate that you understand that the importance of the criteria you describe is relative to the situation involved. For example, the marketing needs of an internal operations product may not be as important of a consideration as the prioritization of marketing-related features of a customer-facing sales feature.
Written by Karrie Day on April 25th, 2022
Answer Example
"There are a number of factors to consider when prioritizing product development work. This is an incredibly important aspect of a product manager's role that requires experience, skill, and situational awareness.
Per the Kano Model, I consider the impact of feature sets on customer delight and product function. For example, a particularly exciting feature that is not available in any competitor product is likely to cause a significant jump in usage and satisfaction.
The performance of the solution can be an equally important factor to consider. Customers respond poorly when features are slow or too complex to use. Therefore, it is important to balance new features with the technology needed to support them properly. Additionally, teams often need to prioritize the user interaction design features necessary to make their products easy to use.
Also, it is important to understand the market and the basic features that are expected by the personas within the customer community. A product can easily fail if the basic features are sacrificed for other complex functionality. It is typically a good strategy to ensure that all of the basic needs are met well before expanding.
Finally, there are features that are necessary to keep a product going. This could include technical debt work, customer support features, operations features, marketing features, etc.
All of the areas described above are important to consider when prioritizing work. The relative importance of each depends on the history of the product, the strategic plan, the competition, and the technology available. The right answer is wholly dependent on the situation and relies on a product manager's ability to accurately define the value stream and the cost of delay for the features that are not a top priority."
Written by Karrie Day on April 25th, 2022
General
24. What are the major components of a product roadmap and why are they important?
Why the Interviewer Asks This Question
Product managers at Coinbase are responsible for developing roadmaps for the products they are assigned to. This work may be the ultimate responsibility of senior-level product managers. However, this question is asked to ensure a candidate understands product roadmaps well enough to contribute at the level appropriate for the role they are hired for.
Written by Karrie Day on April 25th, 2022
Remember To
Remember to discuss all of the product phases that might be represented in a product roadmap. This includes product ideation activities as well as those needed to support the end-of-life of a product.
Written by Karrie Day on April 25th, 2022
Answer Example
"Product roadmaps are used to communicate several major components. First, product roadmaps communicate the activities and the timelines for product planning. This includes the strategic planning and analysis activities necessary to develop budgets and performance projections for a project. This information is important because planning typically requires coordination across several groups within a company such as sales, marketing, and engineering.
Product roadmaps also communicate the timelines for the development activities for the product. For example, if a product has a mobile and a web version, the roadmap will show the timeline for the development of major feature sets or upgrades across each version of the solution. Development tasks for infrastructure groups are typically shown as well. This information is important because many of the feature sets within product development are highly integrated and rely on excellent coordination across teams.
Additionally, a product roadmap will show the marketing and sales activities and milestones that are a part of the product launch and support processes. For example, if a product features a Black Friday sale, the roadmap will show the marketing campaign activities such as customer outreach, market analysis, email campaign, SEO strategy, and pricing plan review. This information is important because it helps development teams and marketing teams coordinate timing.
Product roadmaps also display major milestones and communicate progress toward them. A well-crafted roadmap clearly demonstrates the difference between work that is complete, work that remains, and important milestone dates. This information is important because it helps teams and their management make important staffing and investment decisions based on the progress toward each goal. This information also helps all of the teams involved understand the downstream impact of delays in their work.
Finally, product roadmaps communicate support and end-of-life activities for a product. This information is important because it offers insight into resources needed to support various releases. Additionally, this information helps leaders project when company resources might become available for the development of new products or features."
Written by Karrie Day on April 25th, 2022
General
25. Please describe some of the major reasons why members of a team may be resistant to the changes you suggest as a product manager.
Why the Interviewer Asks This Question
Product managers require support from a number of roles during the product development process. Given the high rate of change at Coinbase, this question is asked to determine if a candidate understands some of the potential roadblocks they will need to overcome in their role as a product manager.
Written by Karrie Day on April 25th, 2022
Remember To
Remember to include examples of resistance due to business-related concerns as well as those that are emotionally driven. For example, it would be acceptable to include resistance driven by fear and anxiety-related issues in your answer.
Written by Karrie Day on April 25th, 2022
Answer Example
"In my experience, there are three main reasons that team members I work with are resistant to change. The first is a lack of education or information. Sometimes I request the development of features and functionality that the engineering teams have a lack of experience working with. They resist in those cases because they prefer to work with reliable solutions they know well. I definitely understand and empathize with this concern. I like to work with skilled solution architects and designers to identify new technology needs as soon as possible so that we can plan for training and develop proof of concept models to test things out before we fully integrate them into our products.
The second reason I am met with resistance is a lack of understanding of the customer persona. Sometimes team members will challenge the value of a feature I advocate for because they are lacking context. In these cases, I help my team members understand how the feature will be used and how it will directly add value to the customer experience. If possible, I bring in customers or coordinate shadowing opportunities to allow the customers to speak directly to their needs.
Finally, I have met resistance within teams that is driven by fear and anxiety. This is often the case after an issue with a product launch or a period of poor product performance. Some team members fear that the next round of changes might experience similar outcomes, and they struggle to move forward. I find it helpful in this scenario to spend extra time analyzing and gathering metrics to support the changes I am in favor of. Focusing on data-supported strategies seems to reduce some of the emotional reactions."
Written by Karrie Day on April 25th, 2022
General
26. What is the difference between a product manager and a program manager?
Why the Interviewer Asks This Question
Coinbase program managers help to integrate workstreams across complex projects. They partner regularly with product managers during specific projects to ensure products are developed in the right way. Interviewers ask this question to determine if a candidate understands how to collaborate with this integral role.
Written by Karrie Day on April 25th, 2022
Remember To
Remember to describe responsibilities that have the potential for overlap between these two roles. These areas represent the scenarios that have the most collaboration opportunities and potential for conflict.
Written by Karrie Day on April 25th, 2022
Answer Example
"A product manager is in charge of the strategy and the success of the development of a specific product they are responsible for. They have end-to-end ownership of all of the activities that affect the development and support of their product throughout its entire lifecycle, and they help to define the customer experience. A product manager may partner with multiple project teams at a time on the development of their product. For example, the product manager of software that has a web and app version may work with multiple development and support teams to ensure its features are developed and supported properly. They may also work with marketing, legal, and other business teams as needed.
A program manager has oversight over the strategy for the success of project execution within a defined portfolio. They help to apply standards and foster coordination between various development teams. They typically oversee the work of individual project managers and assist with resource allocation issues, budget requests, etc.
There is an overlap between these two roles. In the example of the software product manager I gave, they may work alongside a program manager to coordinate interdependencies across teams. However, the product manager maintains a product-specific focus to ensure the right things are developed at the right time. The program manager is more concerned with the efficiency of the operations within the teams they are responsible for and ensures products are developed in the right way."
Written by Karrie Day on April 25th, 2022
Situational
27. What would you do specifically to help foster alignment between the various teams working on a product you are responsible for at Coinbase?
Why the Interviewer Asks This Question
Product development at Coinbase requires collaboration across various cross-functional teams. Product managers play a vital role in ensuring teams are aligned and ready to contribute to the process as needed. This question is asked to assess a candidate's communication, facilitation, and leadership skills that foster collaboration and alignment.
Written by Karrie Day on April 25th, 2022
Remember To
Remember to mention the artifacts a product manager creates that help to maintain alignment across development and support teams in addition to the activities that contribute to this important aspect of the product development process. For example, a product roadmap is a critical tool used to communicate interdependencies across teams and major milestone dates.
Written by Karrie Day on April 25th, 2022
Answer Example
"I believe that fostering an environment of collaboration and alignment is one of the most important aspects of a product manager's role. Product development, maintenance, and support require effort from resources across a variety of areas of expertise and it is important to develop a shared vision, communicate it properly, and continually align everyone throughout the lifecycle of a product.
One of the most essential tools I use to foster alignment is the product roadmap. I would collaborate with the teams involved in its creation and maintenance. I would also circulate it and discuss it often to ensure that the teams involved understand the implications and interdependencies across the various streams of work.
I would foster alignment by educating my co-workers on the perspective of the customer. I would regularly advocate for the customer and help my teammates learn to consider their needs while working to develop the products I am responsible for. Additionally, I would work to share customer feedback with the teams I work with to help develop user empathy and alignment with their feelings about our products.
Finally, I would foster alignment by regularly analyzing and discussing how the work of the teams I am partnering with serves to meet our goals and bring the vision of Coinbase to life. It is easy to veer off course in a fast-paced environment, so regular check-ins to ensure we are focused on the right things at the right time would foster alignment at the highest level."
Written by Karrie Day on April 25th, 2022
Situational
28. Walk me through a time when you have had to say "no" to an important client.
Why the Interviewer Asks This Question
Product managers are responsible for ensuring the right features are delivered at the right time. Interviewers ask this question to determine if a candidate has the leadership and soft skills necessary to push back on feature requests when appropriate.
Written by Karrie Day on April 25th, 2022
Remember To
Remember to provide business-driven justification for your decision. For example, a product manager might say no to a client who requests a feature that would cost more money than their budget can allow.
Written by Karrie Day on April 25th, 2022
Answer Example
"In my current role as a product manager, I am responsible for an asset management system that one of my senior-level users really disliked. He went out on his own and reached out to several vendors regarding replacement possibilities. He came to me one day with information on a vendor he was certain we should move to and asked me to begin contract negotiations. He indicated he had already discussed it with the executives in his area and he had their buy-in to move forward.
Unfortunately, this client was new to the company and had little insight into our processes or the technology roadmaps for his area. He did not understand the difference between SaaS and solutions and on-premises solutions. He did not understand which portions of the solution were provided by the vendor and which portions were additions and customizations we had built ourselves. He did not have an understanding of the level of integration the system had with various other systems we used. He did not understand how system support and maintenance worked.
I let him know that I really appreciated his enthusiasm for finding a better solution, but that we needed to take a step back and look at the big picture together before moving forward. I asked him to articulate the reasons why he felt we needed to move away from the current solution and to describe the new features he was looking for in a replacement solution. I then took the time to walk him through the business model and finances for the current solution. I also showed him a context diagram that explained the total user population and the integration model at a high level. It became very clear to him that replacing the current solution was not as easy as just selecting a new asset management system for his team.
I then walked through the gaps that he highlighted as the most significant to him. We collaborated on some adjustments and new features that would help to improve the experience of the team he was responsible for. A few items were quick-hit configuration adjustments I was able to implement within days. I worked the other changes into the product backlog based on their relative value to the other top priority work we already had scheduled.
The situation worked out well in the end. He was able to gain an understanding of an area of operations within our company that he was previously unaware of. He also appreciated the time I took to listen and the work I did to make changes that had a positive impact on his area of responsibility. I asked him to join the steering committee I regularly facilitated and he proved to be a huge asset to the group."
Written by Karrie Day on April 25th, 2022
Situational
29. A technical lead for a series of search features in your product wants to replace them with a new technology that will be easier to develop and maintain. The swap will result in a reduction in functionality for your users. How do you proceed?
Why the Interviewer Asks This Question
Product managers and technical leaders engage in frequent negotiations to determine the best course of action for their products. Changes in the technology used can have implications on the user experience that need to be assessed and interviewers are interested to know how a potential product manager hire will approach these discussions.
Written by Karrie Day on April 25th, 2022
Remember To
Remember to discuss the process of backing any assertions you make as a product manager with metrics. Product managers are often in touch with the feelings of their clients, and their intuitive opinions are important. However, they should be balanced with data-based claims as well.
Written by Karrie Day on April 25th, 2022
Answer Example
"The first thing I like to do in situations like these is to fully understand the technology that is being discussed and what its capabilities are. It would be important to explore what an initial implementation would look like and what options we would have for growth in the future. I would ask the technical lead to walk me through all of the benefits and any of the cons that are worth considering. I would research the claims to ensure they are supported through reliable data based on similar implementations.
From there, I would do research on my own to help me assess customer impact. I would search for data on products that contain similar functionality and how users responded to those features. I would also reach out to current customers to walk them through the proposed changes and get a sense of how they would be affected.
Assuming that the benefits of implementing the technology are high and the impact on the customer is low, I would then want to consult with a designer to determine how we could implement the new features in a way that is intuitive and pleasing to our customers. I would also work to understand how much of a time savings the easier to develop features are. If the savings were significant, I would work to identify other valuable features that could potentially be added to offset the impact of the search changes on the customer.
If it turned out that the new search functions would affect the customers in a significantly negative way, I would offer the data necessary to support this claim. For example, I would show the percent reduction in critical data they are able to access, the increase in search time, or the increase in click metrics. I would also identify the most critical search use cases and work with the technical lead to research other options that would offer similar benefits without sacrificing quality."
Written by Karrie Day on April 25th, 2022
Situational
30. Imagine you are asked to design a kitchen sink faucet. What features would you include?
Why the Interviewer Asks This Question
Product managers at Coinbase are responsible for developing the vision for the functionality available within their products. An interviewer may ask a question like this to assess a candidate's ability to discuss their vision for a product's design.
Written by Karrie Day on April 25th, 2022
Remember To
Remember to add in a feature that would set your kitchen faucet apart from the standard offering within the faucet market. Interviewers are interested in hiring product managers that understand how to balance the demand for standard features with those that are perceived as new and exciting by customers.
Written by Karrie Day on April 25th, 2022
Answer Example
"The kitchen sink faucet I would design would have all of the basic features that customers have become accustomed to, such as a pull-down sprayer, an attractive design, and it would be available in a number of finishes to accommodate the customer's preferences. It would also have a button that allows you to switch between spray and stream as well as a stream pause feature.
In addition to the basics, I would add a hands-free option to change the temperature of the water. I often find that my hands are dirty with things I do not want to get on the faucet handle when I need to adjust the temperature. Some of the faucets available today have a sensor that allows you to move your hand from side to side to turn the water on and off. I would adjust this feature to allow for up and down movements to adjust the temperature. The up and down motion is an intuitive match for the function it would be tied to, and it leverages technology that already exists. I feel this would be a feature that would be valued and could set my faucet product apart from the competition."
Written by Karrie Day on April 25th, 2022
Situational
31. Imagine that a feature you championed was released and met with poor customer reviews. What steps do you take to resolve the issue?
Why the Interviewer Asks This Question
Every professional experiences failure at some point in their career. A Coinbase interviewer may ask this question to determine how a candidate would develop a strategy to address customer feedback that reflects poorly on the products they are responsible for.
Written by Karrie Day on April 25th, 2022
Remember To
Remember to include examples of team-based activities you would perform to maintain an overall positive perspective in the face of negative feedback. Coinbase job postings specifically mention placing value on candidates who are able to generate positive energy within their teams. Providing specific examples of how this would be done during times of adversity may help to set you apart from candidates who only include customer-focused strategies in their response.
Written by Karrie Day on April 25th, 2022
Answer Example
"The first thing I would do is remind myself that the feedback is not personal. Digging in to understand the feedback and resolve the issue quickly sets the stage to generate future value. I find that maintaining a positive outlook helps to inspire others to do the same while we work to address the issues that led to the poor review.
Next, I would gather as much data as needed to determine the root cause of the poor reviews. I would review the internal data available from our customer service and sales teams as well as any performance data available through technical monitoring solutions. Additionally, I would review articles, videos, and forum posts for customer reviews and comments. I would document any recurring themes and discuss them with my teams. If possible, I would also reach out directly to customers who were struggling with the product to let them know I care and I am working to address their concerns.
I would then develop a tactical plan to address any quick-hit items that had the potential to improve customer satisfaction. This might include solutions like small feature releases, improved help documentation, or customer outreach calls. I would coordinate with our marketing team to inform our customers of the work we were doing to address their concerns.
I would also take steps to develop a strategic plan to address long-term issues. This might include holding reflection meetings to discuss the process or design flaws. It might require competitor analysis. It might require the development of replacement solutions.
I would ensure that our product roadmap was updated to reflect whatever changes we agree are necessary to improve the customer experience. I would also reach out to my peers and superiors for guidance and feedback to ensure the changes I suggest are sound and that we work collectively to incorporate any lessons learned across all of our products."
Written by Karrie Day on April 25th, 2022
Situational
32. How would you explain the blockchain concept to a child?
Why the Interviewer Asks This Question
Product managers are tasked with explaining concepts to gain the buy-in needed to create change within the products they are responsible for. Additionally, product managers work with customers and internal teams to explain the details of features before they are released. Interviewers ask this question to assess a candidate's ability to explain a complex and technical concept in an easy-to-understand manner.
Written by Karrie Day on April 25th, 2022
Remember To
Remember to provide an easily understood metaphor for a blockchain in your response. Comparing a complex concept to something that is familiar to a child instantly creates understanding and develops a framework to discuss the more difficult aspects of the idea.
Written by Karrie Day on April 25th, 2022
Answer Example
"I would start by explaining that the blockchain is a tool that is used to make sure trades are handled properly and fairly. I would then ask them to imagine that we were going to trade something they are familiar with like Pokemon cards. I would explain that the blockchain represents the process of making sure the Pokemon cards are real and not fake. I would then explain that the blockchain helps us to know who owns each card and when they traded it.
I would explain that the information we keep in the blockchain is ordered based on the date and time each trade happened. We can clearly see which card was traded first, next, and so on all the way to the latest trade. I would state that many people have a copy of the list in case we ever lose it or disagree about who owns a card.
Finally, I would compare the card trading metaphor I used to cryptocurrency trading. I would explain that cryptocurrency is a type of money, and the blockchain helps us to trade it in a safe and fair way."
Written by Karrie Day on April 25th, 2022
Situational
33. What are some of the ways you would gather customer feedback as a product manager at Coinbase?
Why the Interviewer Asks This Question
Product managers have a significant and direct impact on the experience of Coinbase customers. Interviewers ask this question to ensure the candidate understands how to properly collect the data necessary to assess the health of their products from a customer experience perspective.
Written by Karrie Day on April 25th, 2022
Remember To
Remember to include conversational approaches in addition to data-driven methods in your response. Customer outreach offers a depth of perspective that is sometimes lost in a purely metric-based analysis approach. Interviewers value candidates that know how to weave multiple sources together to identify feedback themes and develop strategies to improve upon any issues that arise.
Written by Karrie Day on April 25th, 2022
Answer Example
"I would begin the process of gathering and understanding user feedback by utilizing the feedback mechanisms Coinbase already has in place. This would include data collected through the website and app contact functions. I would work with the members of my teams to learn about the internal ticketing systems and any reports available that would help me to identify trends and potential issues.
Additionally, I would regularly read opinion pieces written about Coinbase. While one person's opinion might not represent the entire community, a widely circulated article can shed light on the perspectives some customers adopt. I feel it would be important information to regularly review this type of information.
I would also seek out online discussion boards about crypto trading and the various platforms available. I believe it would be useful in gathering contextual feedback on Coinbase and its competitors. For example, if everyone was raving about a new BitMEX feature that Coinbase does not offer, this information would help me to better understand the needs of our customers.
Finally, I would have regular discussions with Coinbase employees, friends, and family members who trade crypto. There is a lot of wisdom to be found in the communities we live and work in. I feel these conversations could be a helpful forum to process some of the data I would be reviewing on a regular basis."
Written by Karrie Day on April 25th, 2022