Digibites_Team PPT
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The document discusses strategies for a content platform called Glossaread. It conducted consumer surveys that found people are willing to pay for convenient, reliable content from trustworthy sources. The solution is to provide an alternative revenue source for content creators through paywalls. Glossaread will target those seeking specialized information and tie up with top content creators. The "My Knowledge Playlist" product allows building customized playlists. Pricing uses a "pay as you go" model for convenience. Promotion strategies include partnerships, influencers, and social media. An activation campaign on social media aimed to introduce the brand and drive traffic.
Digibites_Team PPT
- 2. Agenda Defining TG Pricing Model Market Place Recommendations Promotional Strategy Product Strategy Primary Research Digital Activation Impact
- 3. The Problem 1. Users need reliable quality content 2. Content is available 3. Content is a slave to advertising 4. Quality & reliability of content is in question
- 4. The Solution Short Term Solution: Instill behavior wherein users pay for quality content they consume Long Term Solution: Encourage trustworthy content for users, who can signal satisfaction through buying decisions, by providing an alternative stable source of revenue to content creators in the form of paywalls.
- 5. Consumer Behavior – a Survey 18-25 years | 100 Responses (60% participants were 25-30 years) 60% 40% 47% 41% 12% Personal Educational Professional Purpose of buying content Do you ever pay to consume content? (Movies/ music/ journals/ blogs/ articles) 1 Yes, I often pay for the content I consume No, there is so much free content around, what’s the need to pay? 40%60% 56% Educational Articles, Journals, Books, Courses Music/ Movies/ Videos 41% 3% ----Articles, Images--- 2 Given the same content, which format will you buy? 71% 23%4% Audio Text Video 34
- 6. How convenient do you think paying For each article you read is? 43% 40% 15% It’s Okay It’s a pain It’s Easy 5 Why do you pay? 37% 33% 25% I feel paid content is personalized and I don’t pay for the content I don’t want I feel paid content is more authentic/ exclusive I feel I am supporting writers/ academicians and other creative souls who generate this content 6 Consumer Behavior – a Survey
- 7. Who is our target? Global – 18+ years of age, Digital/ Tech Savvy, Looking for access to quality journalism, conditioned to pay for access to content India – 18- 40 years of age, Looking for Educational/ Career related specialized information, not conditioned to paying for access to content
- 8. What people seek? Value Convenience
- 9. Insight Urgency Scarcity Authority People are willing to pay for content which boasts of at least one of these features
- 10. Target: Demand or Supply? Supply Relatively better ROI Demand In a chicken-and-egg situation, we believe that SUPPLY is the right way to go to create a pull- effect. What sells is quality. Until quality is assured, generating demand is challenging. More importantly, good quality supply drives higher and sustainable demand.
- 11. Defining the ‘Suppliers’ Incentive We become a platform that empowers content creators to be regarded as domain experts Through a rating system for suppliers of content, which will ensure quality due to a constant feedback mechanism (Differential pricing) - Champion - Ninja - Pro
- 12. The Role we Play: This can work in India! Placement-specific content targeted to students and professionals seeking unique expertise 1 2 Tie up with top-rated Quora authors to source specialized content that has external marketability 3 Tie up with educational institutes to offer study materials and unique research articles
- 13. The Role we Play: The US & Markets Abroad Tie-up with NY Times, Washington Post, Wall Street Journal, in order to maintain competitive edge with Blendle 1 2 Access to Exclusive Pieces from Industry experts, relevant for the target audience Eg: A piece from Elon Musk in Silicon Valley will find major audience among budding entrepreneurs 3 Culturally relevant pieces for immigrants living away from home, fulfilling feelings of Nostalgia and patriotism Eg: Raghuram Rajan
- 14. Product: The Big Idea ‘My Knowledge Playlist’ Authors & Bloggers Domain Experts Sourced from
- 15. Pricing: Prospect Theory Gains Price Losses 2502x25 Building a piece-meal payment behaviour Is it convenient to keep making small payments? Pay as You Go: Induces TRIAL Pay in One Go: Ensures Stickiness CASH SUBSCRIPTIONS Pay as you Go, but Conveniently. Small losses hurt (proportionally more) than big losses. - Kahneman & Tversky (1974)
- 16. Promotion Educational Institutes and Events B2B Engagements as mass Suppliers of content Cross- promotions with Influential Bloggers Tie ups with “App of the Day” Vendors App Store Optimization Paid ‘Install’ Ads Improving Website Ranking/ SEO Facebook/ Twitter as Awareness Platforms LinkedIn as Awareness cum Lead Generation Platform Push Pull Create Urgency: Days left and views/buys
- 18. Strategy and Goals Increase Awareness Engage with Target Audiences Educate Potential Consumers Drive Website Visits Content on Facebook and Twitter was geared to introduce Glossaread to a wider audience and get people to want to know more and try it, as both content consumers and creators
- 19. Content Approach Link to the website on all posts and running paid website click ads Integrated Content across all social platforms in order to increase engagement and recall Use of minimalist design with more visual impact and very little text Resonate Using images of food and other items to draw a parallel to Glossaread
- 20. Facebook
- 21. Twitter On Twitter we got an influencer on board to talk about and engage with the brand, generating far higher engagements than paid tweets could have Chhota Batman @Mooziek
- 22. Instagram We launched Instagram for Glossaread as it’s an important platform for the creative types, the hedonic content consumers and creators, we used hashtags to drive engagements without media spends
- 23. Results Gained 25 followers in 2 days organically Top Tweets earned 3,874 impressions Top mention earned 24 engagements 2395 Website clicks 54000+ People Reached 7000+ Engagements
Editor's Notes
- #4: Advertising decreases quality
- #5: Advertising decreases quality
- #8: Advertising decreases quality
- #10: Exclusivity
- #12: A substitute for rare facetime with experts and unique insights
- #13: A substitute for rare facetime with experts and unique insights
- #14: A substitute for rare facetime with experts and unique insights