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Jar App

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

ICPs

ICP #1

ICP #2

Age

18-22

22-25

Location

Bihar

Mumbai

Most used apps

Hotstar,zee5,voot,prime video,zomato,upi apps,whatsapp,snapchat,linkedin

Netflix,Prime video, slack ,zoom,swiggy,zepto,linkedin,instagram

JTBD

Uses jar app to automate savings

Uses jar app to. achieve financial goals

Time vs Money

Has lots of time and very little money

Has Limited time and money

There are no rows in this table

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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

Table

Channel

Cost

Flexibility

Effort

Speed

Scale

Organic

Low

High

Low

Medium

High

Paid Ads

Medium

Low

Medium

High

Referral

Medium

High

There are no rows in this table

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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

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Interest in keyword jar app had increased because of ad campaign during the IPL

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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

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Screenshot 2023-02-15 at 11.01.45 AM.png

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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’

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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

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