digital kids edu 2013: stuart drexler, chief product officer, tykoon

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Stuart Drexler Chief Product Officer [email protected]

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Defining Your Strategy

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Page 1: Digital Kids Edu 2013: Stuart Drexler, Chief Product Officer, Tykoon

Stuart DrexlerChief Product [email protected]

Page 2: Digital Kids Edu 2013: Stuart Drexler, Chief Product Officer, Tykoon

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

Page 3: Digital Kids Edu 2013: Stuart Drexler, Chief Product Officer, Tykoon

Tykoon 2.0Mobile First (Handheld)

Kid CentricSocial

Page 4: Digital Kids Edu 2013: Stuart Drexler, Chief Product Officer, Tykoon

Kid’s Chore Checklist:

• Easy to use

• Helpful suggestions

• Partner integration opportunities

Page 5: Digital Kids Edu 2013: Stuart Drexler, Chief Product Officer, Tykoon

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

Page 6: Digital Kids Edu 2013: Stuart Drexler, Chief Product Officer, Tykoon

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

Page 7: Digital Kids Edu 2013: Stuart Drexler, Chief Product Officer, Tykoon

Milestone Moments

• Encouraging money smarts

• Recognizing accomplishment

• Win – Win, no fuss

• Empowering

Page 8: Digital Kids Edu 2013: Stuart Drexler, Chief Product Officer, Tykoon

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

Page 9: Digital Kids Edu 2013: Stuart Drexler, Chief Product Officer, Tykoon

Social Feed:

• Most kid actions and activities are auto-shared

• News prioritized by social connection

• One click ‘like’ or add to wish-list

Page 10: Digital Kids Edu 2013: Stuart Drexler, Chief Product Officer, Tykoon

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

Page 11: Digital Kids Edu 2013: Stuart Drexler, Chief Product Officer, Tykoon

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)

Page 12: Digital Kids Edu 2013: Stuart Drexler, Chief Product Officer, Tykoon

Stuart DrexlerChief Product [email protected]