Edvoy

Ever dreamt of studying abroad but worried about getting accepted?
The Edvoy app’s got your back. We’ve helped over 86,000 students find the best universities, and with our Genie AI, we match you to the perfect one's in just 5 minutes. It’s super simple, fast, and personalized—like having a guide who knows exactly what you need. Ready to make your study abroad dream come true? Give the Edvoy app a try today!

(Go and speak to different users of the product and the people in the chain: households buying the product, shopkeepers selling the product, churned users, and users using competitor's products. In the case of B2B products identify the decision makers, the influencer, the blocker, and the end-user)

Understanding your ICP

(Put down your ICP’s in a Table Format. A tabular format makes it super clear for anyone to understand who your users are and what differentiates them)

We have multiple users of a product and not all of them can be our ICP for whom we make our strategies, we need to prioritize.
(use an ICP prioritization table)

ICPs Data Summary

ICP Prioritization Table

Prioritize ICP 1 and ICP 2 (Priyanka and Hemant), as they have high adoption rate and good distribution potential.

Sandhiya and Khushi are valuable but slightly lower priority due to moderate market potential and frequency of use.

(Before you begin, you need to know what your product is, what are its features, what is the problem being solved by your product?)​

​Understanding Core Value Proposition

(Build your core value proposition by exact what your product does and what problem are you solving)

For students who want to study abroad and need guidance through every step of the journey, the Edvoy app is an all-in-one platform that simplifies the process of discovering, applying, and enrolling in universities, offering personalized AI-driven course matching, unlimited video counseling, and seamless document handling—all in one app. Unlike other platforms, Edvoy provides free, on-demand counseling and supports students throughout the entire journey, making it easier, faster, and more cost-effective to study abroad.

(Let's begin by doing a basic competitor analysis in a tabular format considering all the parameters for your product and its competitors)

(Then let's try to understand the market at a macro level and evaluate the trends and tailwinds/headwinds.)

Now it’s time for some math, calculate the size of your market.

TAM = Total no. of potential customers x Average Revenue Per Customer (ARPU)
SAM = TAM x Target Market Segment (percentage of the total market)
SOM = SAM x Market Penetration/Share

Competitor Analysis Table

Conclusion

Edvoy holds a competitive edge with its tech-driven features like Genie AI, unlimited video counseling, and end-to-end support. The free services make it a cost-effective solution compared to competitors like Leap Scholar and Leverage Edu, who rely on service fees.

While Leap Scholar and Leverage Edu have a more established presence in India, Edvoy's global reach and technology-driven approach position it as a strong competitor in the growing study-abroad market.

Market Trends

Increasing Demand for Global Education: The number of students choosing to study abroad continues to grow, with popular destinations being the US, UK, Canada, and Australia. Edvoy’s AI powered platform makes it easier for students to quickly find suitable courses, aligning with this growing demand.

Rise of Digital Platforms: More students are turning to digital platforms for counseling, university applications, and visa guidance. Edvoy’s app provides a seamless experience with its AI driven features and in-app video counseling.

AI and Personalization: Students expect personalized experiences in their study abroad journey. Edvoy’s Genie AI and video counseling align perfectly with this trend, offering tailored recommendations and support.

Tailwinds (Positive Factors Driving Growth)

Government Initiatives: Programs like India’s National Scholarship Portal and loan schemes are supporting students in their study abroad journey, creating a favorable environment for Edvoy Funds.

Increased Focus on Internationalization: Many universities are seeking international students, increasing the recruitment of students from regions like India, Pakistan, and Africa, supporting Edvoy’s platform.

Technological Advancements: The digital shift in education and the growing reliance on tech-enabled services align with Edvoy’s digital first approach.

Rising Affluence Among Middle-class Families: The growing number of middleclass families with the means to send their children abroad opens a large pool of potential customers for Edvoy’s loan services.

Headwinds (Challenges Hindering Growth)

Rising Competition: Edvoy faces strong competition from established players like IDP Education, Leap Scholar, and Leverage Edu, which have well-established brands.

Economic Uncertainty: Economic challenges such as inflation and currency fluctuations can limit students’ ability to afford studying abroad. However, Edvoy’s loan options help alleviate this concern.

Visa and Immigration Barriers: Complex visa processes and immigration laws in popular destinations could hinder student mobility.

Regulatory Issues: Edvoy will need to ensure compliance with local laws in various countries to navigate regulatory barriers effectively.

Conclusion

Edvoy is well positioned to benefit from increasing study abroad demand, the rise of digital platforms, and AI personalization.

Tailwinds such as government initiatives, the internationalization of education, and rising affluence further support its growth.

Headwinds like competition, economic uncertainty, and visa barriers will need to be carefully navigated by leveraging Edvoy’s unique tech driven features and personalized services.

Market Sizing

1. Total Addressable Market (TAM):

Total Number of Potential Customers: Approximately 2.5 million students from India, Pakistan, Bangladesh, Nepal, Thailand, Sri Lanka, Saudi Arabia, Egypt, and various African countries are studying abroad.

Average Revenue Per Customer (ARPU): Estimated at $3,400 per student.

Calculation:

TAM = 2,500,000 students × $3,400/student = $8.5 billion

2. Serviceable Available Market (SAM):

Target Market Segment: Assumed to be 20% of the TAM, focusing on students actively seeking consultancy services.

Calculation:

SAM = $8.5 billion × 20% = $1.7 billion

3. Serviceable Obtainable Market (SOM):

Market Penetration: Assumed at 25% of the SAM in Edvoy's initial years.

Calculation:

SOM = $1.7 billion × 20% = $425 million

Designing Acquisition Channel

(keep in mind the stage of your company before choosing your channels for acquisition.)

Why these channels?

Paid Ads

High Scale and Speed make it ideal for rapid user acquisition. With a global presence, paid ads on platforms like Meta, Google, and TikTok allow you to reach diverse markets effectively. The medium cost is justified by the quick results and ability to target specific segments.

Referral Program

Low Cost and High Scale potential make it a powerful growth engine. The 50% conversion rate indicates a strong ROI for the efforts spent in incentivizing users. This leverages existing customer base and encourages organic growth through word of mouth.

Content Loops

Low Cost and High Flexibility allow Edvoy to build strong brand awareness while nurturing leads over time. Content marketing (blogs, success stories, educational videos) can complement other channels, attract organic traffic, and keep your audience engaged, ultimately driving more conversions.

​

Organic Channel

(Understand the existing organic channel strategy for your product and highlight the success and failure thereon.
Provide your suggestions and devise new strategies.)

Step 1 → Conduct keyword research on Google, Amazon, Youtube, Quora etc.
Step 2 → Collate all your insights from all your searches.

Content Loop

Step 1 → Nail down your content creator, content distributor and your channel of distribution

Content Creator:

Students: Current Edvoy users sharing their personal experiences, success stories, challenges, and achievements through social media posts, blog articles, and videos.

Influencers: Education influencers or student ambassadors promoting Edvoy's services (especially on platforms like Instagram, YouTube, and TikTok).

Edvoy Team/Alumni: Official Edvoy team creating helpful content like webinars, tips, Q&A sessions, and student guides.

Partner Institutions: Universities can help by posting about Edvoy’s services, highlighting its success stories, and sharing information about student opportunities.

Content Distributor:

Edvoy: Official social media accounts (Instagram, Facebook, TikTok, LinkedIn), email newsletters, blog posts, and the Edvoy website.

Students: Reposting success stories, sharing their personal study abroad journey, or referring their friends via social media.

Influencers: Reaching out to Edvoy’s influencer partners to share their personal experience using Edvoy’s platform and services.

Universities & Alumni: Posting content on official university channels or personal profiles to create authenticity.

Channel of Distribution:

Instagram, Facebook, and TikTok: For visually engaging content like student success stories, tips, study abroad challenges, referral program campaigns, and Instagram stories.

YouTube: For long-form content, including student testimonials, tips, webinars, and deeper insights into studying abroad.

Quora: Answering popular study-abroad related queries and sharing Edvoy’s valuable content to establish expertise.

WhatsApp/Telegram: Personalized content such as updates, invites to events, or special study-abroad offers.

Email: Sending exclusive content like newsletters, success stories, and personalized tips to guide students through the study abroad journey.

LinkedIn: For professional networking, sharing student career stories, alumni experiences, and success in international job markets.

​Step 2 → Decide which type of loop you want to build out.

Viral Loop:

Hook: "How I Got Into My Dream University with Edvoy!"

Content Creator: Students sharing their personal experiences about getting into their dream university with Edvoy’s help.

Distribution Channel: Instagram/TikTok Reels, YouTube Videos, Facebook, and social media channels.

Engagement Flow: Students post their journey using #EdvoySuccess and encourage their friends to share their own stories. Edvoy shares the best stories, motivating more students to engage and participate, creating a viral loop of user-generated content.

Idea: Students create Instagram Reels showing the "Top 3 things I learned using Edvoy" challenge. Edvoy reposts and amplifies the best submissions, generating organic brand awareness and increasing social media interaction.

Referral Loop:

Hook: "Invite a friend to join Edvoy and get a chance to win an iPad!"

Content Creator: Students who refer their friends to Edvoy’s platform.

Distribution Channel: WhatsApp, Instagram Stories, Facebook, and TikTok.

Engagement Flow: Students share their referral link via Instagram stories or WhatsApp with a unique offer. Once their friends sign up, both are rewarded. This incentivizes users to refer more people, fueling organic growth.

Idea: Introduce student ambassador programs where top referrers can earn significant rewards like free video counseling or exclusive offers, motivating them to generate organic leads.

Engagement Loop:

Hook: "Share your study abroad goals with us and win a free video counseling session!"

Content Creator: Students and influencers sharing their academic and career goals.

Distribution Channel: Instagram, TikTok, YouTube, and Quora.

Engagement Flow: Students post about their study-abroad aspirations with a branded hashtag, like #EdvoyGoals. Edvoy reposts the best stories, encouraging more students to join in and get involved. This boosts user-generated content and increases brand visibility.

Idea: Interactive Webinars with Edvoy alumni or current students abroad, where users can engage in live Q&A. Offer certificates or Edvoy merchandise for active participants, increasing engagement and interaction.

Step 3 → Create a simple flow diagram to represent the content loop.

(Understand what is already being done, what is working out well and what needs to be stopped)

Step 1 → Define the CAC: LTV ratio. If your product has a healthy CAC:LTV ratio, proceed with paid ads.

- CAC: $166.67 (3% conversion rate)

- LTV: $1000

- LTV:CAC Ratio: 6:1, which is healthy, allowing investment in paid ads.

Step 2 → Choose an ICP

ICP: Hemant, a 27-year-old undergraduate student interested in MSc Data Science in the UK. He is highly engaged, has a defined budget (INR 20L-30L), and used Edvoy's VC feature.

3. Select Advertising Channels

- Meta (Facebook & Instagram): Broad consumer base, ideal for B2C engagement.

- Google Search: Targets high-intent users searching for study abroad solutions.

- YouTube: Video-driven content for sharing student success stories and tips.

- TikTok: Engages younger audiences with viral challenges and student stories.

4. Write a Marketing Pitch

_"Looking to study abroad? Edvoy helps you find the perfect university, guides you through the application process, and connects you with scholarships – all from your phone! Start your journey today!"_

5. Customize Message for Different Segments

- Undergraduates (Like Hemant): "Start your study abroad journey with Edvoy. AI-powered university matching and personalized counseling."

- Parents: _"Help your child find the best university abroad with Edvoy’s expert counseling."_

- Postgraduates: _"Take your education to the next level with Edvoy’s personalized postgraduate counseling."_

Step 6 → Design at least two ad creatives (e.g., images, sketches, videos, text ads) that reflect your marketing pitch.

(Understand, where does organic intent for your product begins?)

​

Step 1 → Identify complementary products used by your ICP

• Education Loan Providers
• Accommodation Search Platforms (UniAcco, Casita)
• Test Prep Platforms (Manya, Kaplan)
• Social Media (Instagram, Facebook for engagement)
• Career Counseling Services
• Visa Application Platforms

Step 2 → Use the selection framework and compare the potential integrations it in a tabular form.

Step 3 → Collaborate with necessary stakeholders

• Financial institutions for education loans.
• Accommodation providers (Casita, UniAcco).
• Test prep companies (Manya, Kaplan).
• Edvoy team for smooth technical integration.

Step 4 → Map the customer journey

Step 5: Design the Wireframe with the New Integration

1. Home Screen: Dashboard with university options, loan, accommodation, and test prep.
2. University Recommendations: Widget for personalized university options.
3. Loan Application: Button to apply for financial aid via integrated loan provider.
4. Accommodation Booking: Search bar for accommodation with integrated UniAcco listings.
5. Test Prep: Links to Manya or Kaplan for test preparation resources.

Step 6: Run Pilot Tests Before Launching

• Test User Journey: Ensure seamless integration between platforms.
• Gather Feedback: Collect feedback from users in pilot tests.
• Fix Issues: Address any bugs or friction points identified.

Step 7: Measure Post-Integration Metrics

• User Engagement: Track usage of loan, accommodation, and test prep integrations.
• Conversion Rates: Measure conversion for loans, accommodation, and test prep.
• Revenue Growth: Monitor revenue from these integrations.
• Customer Satisfaction: Collect feedback through surveys and analyze satisfaction levels.

​

Edvoy Referral Program

1. Identify Customer Touchpoints:

   - Target students who have had key moments like successful enrollment, scholarship offers, or accommodation bookings—ideal candidates to refer others.

2. Define the Brag-Worthy Element:

   - Value to Refer: Fast and simple service (Genie AI, Video Counseling), exclusive rewards (cash, platform credits, or early access to features).

3. Define Platform Currency:

   - Offer monetary rewards (cash for successful referrals), exclusive perks (premium features, discounts), and recognition (badges for top referrers).

4. Who to Ask for a Referral:

   - Ask students who are satisfied, actively engaging with Edvoy, and have had a successful experience (e.g., enrolled, received offers).

5. Referral Discovery:

   - Use in-app notifications, emails, push notifications, and pop-ups at key moments to prompt users to share referral links.

6. Referral Sharing:

   - Provide simple sharing options through WhatsApp, social media, and email with a clear and engaging message.

7. Tracking Referrals:

   - Provide students with a referral dashboard to track progress, rewards, and see success updates in real time.

8. Referral Landing Page for Non-Users:

   - Design a simple, engaging landing page highlighting the value of Edvoy, success stories, and a clear CTA for sign-up.

9. Encourage Continuous Referrals:

   - Tiered rewards for every additional successful referral, gamification with leaderboards, and reminder campaigns to keep students engaged.

Wireframes