digital kids edu 2013: stuart drexler, chief product officer, tykoon
DESCRIPTION
Defining Your StrategyTRANSCRIPT
Stuart DrexlerChief Product [email protected]
What is Tykoon?
A Financial Services Platform for KidsEmpowering the next generation to make money smart decisions
Through real-world experiences.
How does it work?
Family account… chores… earnings… savings goals… encouragement… success!
S et Goals Collaboratively between Kids and their Parents
T rack Progress Keep Goals in close sight, and to garner parent encouragement
A chieve Parents praise their kids, kids are proud, make ‘money smart’ choices
R edeem Kids transact – buy items, donate to charities, transfer to savings accounts
Tykoon 2.0Mobile First (Handheld)
Kid CentricSocial
Kid’s Chore Checklist:
• Easy to use
• Helpful suggestions
• Partner integration opportunities
Kid Wish-list:
• Kid-safe Tykoon shop
• Request-a-product
• Progress bars for clear feedback
• One click ‘Buy’, ‘Give’ and ‘Save’
• One click ‘Share’
• ‘Auto Share’ new items to your connections
Kid Wish-list Share:
• Family address book - parents load contacts
• Incentive to share – Tykoins
• Family and friends can easily praise kids from emails received
• Streamlines social
Milestone Moments
• Encouraging money smarts
• Recognizing accomplishment
• Win – Win, no fuss
• Empowering
Tykoon follower model:
• Immediate social connection – introduced at sign up
• Helps introduce product features
• Easy to connect with and follow friends in fully COPPA compliant manner
• Familiar social construct for kids and teens
• Can inspire and be inspired by your choices
Social Feed:
• Most kid actions and activities are auto-shared
• News prioritized by social connection
• One click ‘like’ or add to wish-list
Educational Strategies:
• Features that structure the money conversation: Spend, Save, Give
• Goal setting
• Rewards: Money, Tykoins, Praise (as per family’s values and choices)
• Primary currency = Dollars to enable the money-conversation
• Kid social currency = Tykoins to level the playing field
• ‘Famification’ – makes taken-for-granted family responsibilities into fun, interactive celebrations
• Stealth learning through real life experiences – habitualizing good behavior
• Teachers and schools included - connect household and school environments on financial literacy efforts
Business Strategies:
• Family MoneySmart Score™:
• Parent and child activity drives monthly calculation - encourages ‘famification’• Child: actions that demonstrate money smart decisions (e.g. delayed gratification,
goal setting and achievement) are encouraged and up-weighted• Parents: consistent praise and goal setting is recognized
• Business model (Freemium with subscription)
• Premium service offers family a cash back rewards program• Top 20% of families by Money Smart Score receive cash back credits each month• When your family hits $25.00 in rewards they redeem cash value
• Customer Acquisition
• Align with larger enterprise partners to drive scale and monetization (Banks, Retail, Alternative Payments, Kids Media and Entertainment)
Stuart DrexlerChief Product [email protected]