Download - Android App InkIt- Marketing Plan
Marketing Strategy for Android App
1.Executive Summary
According to researchers at BBDO and AOL, Smartphone users’ most common activity is “me time”
Introducing, InkIt a one of a kind integrated news, information and entertainment platform comprising of articles, blog-posts, poetry, news reports, essays and stories, covering a vast range of topics
Offering a unique value proposition to its users, it provides them with an opportunity to contribute to the content too
2.
Situational Analysis
2.1Company Overview
Core Competencies
Excellent Customer Relationship Management practices Adoption of latest data analytics techniques Implementation of SEO and ASO Tie up with reputed publishing houses and editors of leading journals Diverse content, reliable sources and an impressive number of sharing options
Strategic Assets
All the members of the Strategic Business Unit The expected large user-base In-app advertisements, that’ll generate revenue In-app purchases, in keeping with the Freemium model Communication partners
Current Product Line
Topics covered: Economics, business, finance, culture, politics, lifestyle, humour, environment and many more that’ll attract sufficient number of users Types of pieces featured: Articles, blog-posts, poetry, news reports, essays and stories
Market PositionInkIt will be positioned as the favoured destination for college students and young professionals in the age group of 18-40, who are looking for quality content and/or sources of light reading on their Smartphones. Aim is not to compete with existing content apps but to fill the market gap created by them. The app hopes to garner a respectable market share in the highly competitive online content industry.
2.2Market
Overview
Potential Customers
College Students; 50
Young pro-fessionals; 32
Middle-aged; 12
Others; 6
Competitor AnalysisMobile App Analysis
Parameter Scoopwhoop
Storypick Scroll.in
Rating 4.2 3.0 4.3Downloads 50 thousand 50 10 thousand
Website Analysis
Parameter Scoopwhoop
Storypick Scroll.in
Country rank 178 423 384Total visits 17.20
million7.70 million 4.20 million
Average visit duration
00:02:20 00:01:47 00:03:26
Pages per visit 1.96 1.45 6.20
Opportunities
Explosion of information
Changing Smartphone use dynamics
More and more youngsters pursuing writing as a hobby
Lesser reliance on print mediaEasy accessibility to
Internet and presence of expandable storage leading to a greater number of regularly used apps
ThreatsCut-throat competition in online content industry
Threat of new entrants since there are no barriers to entry in this industry
Global players like BuzzFeed and Flipboard cementing their market position and increasing their market share
Not being able to get enough publishers and editors on board
Perceived lack of originality and innovation by the users
2.3Target
Customers
Demographic Segmentation is employed -:
Age Income Occupation Education Generation
18-40 Middle Self-employed Graduate Gen X40-50 Upper Middle Businessmen Post-
graduateGen Y
50-60 High IndustrialistsCollege
Students
Thus target customers that emerge are college students and young professionals in the age group of 18-40
This market segment is :-
1. Measurable: Size, purchasing power and characteristics can be measured
2. Substantial: Large and profitable enough to serve3. Accessible: Can be effectively reached and served4. Differentiable: Responds differently to different
marketing mix elements 5. Actionable: Effective programs can be formulated
to attract it and serve it
3. Goal
(3 years)
Valuation of a minimum of $3 million USD according to visitor traffic
Estimated monthly revenue of $125,000
4. Strategy
4.1Target Market
Customer Needs Staying updated with current affairs A necessary dose of humour and cheer amidst the banality of day-to-day routine A platform for self- expression A channel for showcasing literary talents
Customer Wants A constant desire to gain knowledge, learn new things, explore different offerings and hunt for interesting stuff to refresh the mind An opportunity to develop a regular reading habit, improve vocabulary and broaden the mind An incentive for developing/reinvigorating writing skills
Distinguishing characteristics of customers
Use Smartphones regularly, and do a lot of extensive reading online Eager to absorb new knowledge Have strong opinions on a multitude of issues Are enterprising and information-hungry
Goals of Suppliers• Recognition and
credit for their sources
• Promotion of the agency/website /blog/newspaper/magazine
• Alternative revenue stream
Goals of Channel Members• Expected payment
for the services rendered
• Positive feedback and increased referrals
Goals of Communication Partners• To target as large
and diverse a consumer base as possible
• To attract new customers toward their product/service
• Build brand image, strengthen brand awareness and drive brand equity
Company’s Strategic Business Unit
1. App Development team: Coders, developers, software engineers
2. Content Creation team: Editors, writers, curators, compilers
3. Content Collection team: Surveyors, on-field reporters, sourcers
4. Business Development team: Growth hackers, strategists, negotiators, networkers, planners
5. Marketing team: Promotions, communications and distribution team
6. Data Analysis team: Analysts, statisticians, online trends trackers
7. Finance and Accountancy team8. Public Relations team: Employee relations
and Investor relations team9. Customer team: Customer care department,
CRM team
The App’s Points-of-Parity
1.Information-intensive; no area left untouched
2.Instant and in-depth information portal
3.Easy, seamless and unlimited access to articles, stories etc. No requirement of subscriptions or registrations
4.Option of sharing any piece that the reader liked on social media
The App’s Points-of-Difference
1.An introduction of a new category i.e. poetry
2.No filter or quality restriction on the contributions as these shall be clubbed into a different category
3.Instead of relying on a content creation team, content shall be sourced too from a vast array of reliable sources
4.The app will be based on a Freemium model
Economic Context Digital content industry growing at a fast pace; expected to reach INR 20 billion by 2020 with digital ad spend expected to grow at 23-28%
The Internet related contribution to GDP at present is an encouraging 3.2%
Technological Context There are 167 million Smartphone users and 352 million Internet subscribers as of 2015
By 2017, India will have more than 250 million Smartphones
Inexpensive Smartphones and rollout of 3G and 4G broadband infrastructure are rapidly coming together to democratise online access
Socio-cultural Context Content consumption patterns have changed-People are increasingly using their Smartphones during breakfast, lunch, commute, work and dinner as well, deepening digital content penetration
Rural consumers are gaining access to low-cost Smartphones and low rates of data-plans, broadening the industry’s target segment
Regulatory Context
No stringent or impinging regulations exist in the digital content industry
Adequate freedom of expression to guarantee generation and consumption of diverse and so-called controversial content
4.2PositioningStrategy
Employ emotional branding, cultural branding and brand journalism
Create buzz and a loyal app community
Develop POPs and PODs
Identify and analyse competitors
Conduct a low-cost market research
For Customers
Differentiate the app from millions of other similar apps through any one of: Employee ,
Channel or Image differentiation
Develop a list of take-aways for them
Analyse the needs and wants and goals of the collaborators
For Collaborators
Effectively communicate the same to the investors and win their trust
Build and maintain a clean financial and legal image
Effectively communicate to the employees the same and remove all ambiguities pertaining to their role in the
organisation
Clearly outline the basic structure and functions and develop a cogent brand mantra for the app
For Company
To Customers
• Read interesting articles and contribute yours too
• With an upgrade, stand a chance to get your work extensively promoted and published in leading publications
• The app will leave you more knowledgeable than before, at the same time refreshing your mind
To Collaborators
• A well-managed, rapidly growing app with new downloads everyday
• Successfully competing with other major players in the industry
• A large and diverse user-base
To Company
• To employees:-Positive work environment, good pay, growth potential, opportunity to pursue interests, job security
• To investors:- Regular filing of returns, future growth potential, financial stability, clean image, profitable and loyal user-base, high ROI
5. Tactics
Free Features of InkIt1. Access to engaging and intriguing articles, essays, stories,
blog posts, poetry and news reports, gathered from reliable sources
2. Option of sharing any piece that the reader liked on social media and through mail or saving it on the device
3. Bookmarking of pieces, customising them chronologically or topic-wise or letting them appear at random
4. A search option that lets the reader search for any specific piece or pieces related to a specific topic
5. An option of rating each piece and posting comments6. A "Contribute" section in which the reader can post his/her
own article, essay, story, poem or a blog/link to his/her blog post, as many as he/she desires
7. The pieces of the "Contribute" section will be clubbed under a different category titled "Open Section"
5.3Price
Selecting the pricing objective
Determining Demand
Estimating Costs
Analyzing Competitors’ Costs, Prices, and Offers
Selecting a pricing method and setting the final price
Following Steps are followed in Setting a Pricing Policy-:
Freemium pricing strategy will be adopted, in which the app itself will be free, but with in-app purchase opportunities/upgrades. The premium version of the app will be priced at $14.99 per month. Reason behind this being, the additional features will benefit the users immensely as they'll stand a chance to actually get their work published, which, genuinely requires a sufficient expenditure of resources. Also, even if some users become reluctant to upgrade due to the high price, it won't affect the app's popularity or its customer base as it'll still get the same number of visits. So, customer retention won't be affected.
6.Implementation
6.1Infrastructure
Organisational Structure(Departmentalization by Function)
CEO
Content Department
Technology Department
Marketing Department
Business Development Department
Finance Department
Public Relations
Department
Customer Department
Content Creation
Head
Content Collection
Head
App Development
Head
Analytics Head
Promotions Head
Distribution Head
BD Head
Finance Head
Employee Relations
Head
Investor Relations
Head
Customer Care Head
CRM Head
Relationship with Collaborators(a) Suppliers Small teams of 2-3 persons will be appointed
to cater to each supplier. Their functions will be explicitly defined and clearly demarcated to avoid overlap of duties. The Content Department will be responsible for this area.
(b) Channel Members Each channel member will have a dedicated
team, which will fully utilise its service. The Technology Department will be responsible for this area.
(c) Communication Partners This will be the area of expertise of the
Marketing Department. They will be required to formulate clever strategies and implement them effectively.
6.2Processes
Processes involved in implementing the strategy and tactics are:-
Managing a holistic Marketing Organisation for the long run
Designing and Managing Integrated Marketing Communications
Designing and Managing Integrated Marketing Channels
Developing Pricing Strategies and Programs
Setting Product Strategy
Setting up Strategic Business Unit
Identifying Market segments and targets and crafting the Market Positioning
Defining the Android App’s mission: Identifying core competencies and choosing value
Analysing Business Markets
Analysing Consumer Markets
Scanning the Marketing Environment, Forecasting Demand, and Conducting Marketing Research
6.3Schedule
Task Lead TimeMarket Research 2 months
Analysis of Consumer and Business Markets
1 .5 months
Crafting Market Positioning 3 weeksSetting up Strategic Business
Unit3 months
Setting Product Strategy 2.5 weeksDeveloping Pricing Strategies 2 weeks
Designing Integrated Marketing Channels
2 weeks
Designing Integrated Communication Channels
2 weeks
CREDITS1. http://readwrite.com/2010/11/17/10-distribution-channels-f
or-mobile-apps/2. https://www.entrepreneur.com/article/2390383. http://buildfire.com/free-app-promotion/4. http://www.ey.com/Publication/vwLUAssets/ey-future-of-dig
ital-january-2016/$FILE/ey-future-of-digital-january-2016.pdf
5. photo credit: <a href="http://www.flickr.com/photos/91029339@N00/3156437303">In the beginning, 1 January 2009</a> via <a href="http://photopin.com">photopin</a> <a href="https://creativecommons.org/licenses/by-nc-sa/2.0/">(license)</a>
6. photo credit: <a href="http://www.flickr.com/photos/52766811@N06/27918824411">Ready</a> via <a href="http://photopin.com">photopin</a> <a href="https://creativecommons.org/licenses/by/2.0/">(license)</a>
DISCLAIMER Created by Fazal Ahmad, VIT Vellore,
during a marketing internship by Prof. Sameer Mathur, IIM Lucknow