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Acquisition Strategy

Product:Jar App
Elevator Pitch:Most urban tech savvy Indians don’t have the habit of saving/investing money, hence you need an app that allows you to invest in gold automatically invest spare change in assets like gold whenever the person spends money online.
At present Jar App has around 10M users that allows users to save in gold.
Jar App leverages UPI Autopay to save in gold so it happens every time there is an online transaction so by default every transaction is recurring.



ICPs
1
ICP #1
ICP #2
2
Age
18-22
22-25
3
Location
Bihar
Mumbai
4
Most used apps
Hotstar,zee5,voot,prime video,zomato,upi apps,whatsapp,snapchat,linkedin
Netflix,Prime video, slack ,zoom,swiggy,zepto,linkedin,instagram
5
JTBD
Uses jar app to automate savings
Uses jar app to. achieve financial goals
6
Time vs Money
Has lots of time and very little money
Has Limited time and money
There are no rows in this table

Meet Dinesh

He lives in a small town in Bihar ,he is 24 year old freelancer,earning Rs.50k to 100k per month, who spends most of his time completing his projects ,he doesn’t have the habit of saving money, hence he uses apps like jar to save money.He spends most of time apart from work on Youtube,Linkedin and zomato,Jar app helps him save around Rs.3000 every month. He values money more than time.

Meet Shubham

He lives in Mumbai,he is 27 year old product manager who lives in mumbai,he earns around 15-20 LPA,he spends most of time inside office, he doesn’t have time to invest money and hence uses Jar app ,he spends time online watching movies and TV shows on OTT apps and also on Instagram.He saves around 500-1000 rupees every month through Jar.He values time more than money.

The Market

To calculate market size, top down approach is being used.
India’s total population :1.4 B
Percentage of GenZ and millennials combined:52%(Source thehindubusinessline)
This number turns out to be 728M people as our total addressable consumer base
They save on an average Rs.2000/month on jar app.
Rs.1456 billion,so our total addressable market is $17.75 billion
SAM,
Now we also know that nearly 80% of Indians have a bank account,so our service addressable market is around $14.2 billion
SOM
At present Jar App has 10M users assuming on an average they save Rs.2000($24),so serviceable obtainable market would be $240M

Channels
Channel Selection Framework
Table
Channel
Cost
Flexibility
Effort
Speed
Scale
1
Organic
Low
High
Low
Medium
High
2
Paid Ads
Medium
Low
Medium
High
High
3
Referral
Medium
Medium
Medium
High
High
4
There are no rows in this table
As per channel selection framework we can go for organic and referral, as of now and paid ads can be prioritised later since they are less flexible both offline and online

Organic

Branded keyword search
Screenshot 2023-02-15 at 8.34.47 AM.png
Interest in keyword jar app had increased because of ad campaign during the IPL
Screenshot 2023-02-15 at 8.39.14 AM.png
Source : google trends
Take a look at various search volumes of digital gold investment on google, the search volumes show that interest in jar app is much higher than in digital gold, which means jar app is successful in creating awareness around its product
Screenshot 2023-02-15 at 11.01.45 AM.png
If you look at App Store Optimization results for various keywords, jar app comes on top ,this shows that jar has rightly optimised for the phrase ‘save in digital gold’
Screenshot 2023-02-15 at 9.38.27 AM.png

Content loop

A potential content loop for jar app could be
content creator:User who is able to invest in gold with bare minimum effort,shares his investment and earnings on social platforms like twitter,whatsapp,instagram and snapchat
content:Amount they won using the spin wheel inside jar app or amount they have saved on a daily/monthly basis because of jar app
Distributor:Whatsapp status,whatsapp groups, twitter algorithm ,Instagram and snapchat stories
This loop could drive organic growth for jar app across social channels.

Referral

Platform currency:Money which can be invested into digital gold
Bragworthy proposition:Jar app automates investments into digital gold
So jar app has a simple referral program,every time a user refers jar app to his friend he/she gets Rs.20 as a joining bonus and referee gets Rs.20 when user invests using jar App he/she will keep earning referral bonus maximum up until it hits Rs.500/week.

Referral campaign
Screenshot_20230216-212107_Jar.jpg
Screenshot_20230214-232120_Jar.jpg
On this screen user can see the amount he/she has won through referral
Screenshot_20230215-000631_Jar.jpg
So as one can see in the earn rewards section one can refer jar app to as many users as they can to earn rewards.
Few pointers to improve referral program
There could be tiers to referral program depending upon the number of people referred by a person
referral program
number of folks referred
reward
1
5
Rs.500 worth digital gold
2
10
2000 Rs. worth digital gold
3
15
free delivery of 24 carat gold purchased to your doorstep
There are no rows in this table






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