✋ Introduction of Eloelo

Company Name: Eloelo- Live Chat, Games and Meet

Founded: 2020

Total Funding: 37M

About Eloelo: Eloelo is an amazing Live Video Chatroom application with over 50M+ downloads. Enjoy Live Video Chat, Live Streaming & Play Live Games with the most amazing Hosts.

🎯 Eloelo is ready for Acquisition

• Has a strong sense of community and most of it came through its performance marketing channel, and during user calling, users did mention the copy which is being used on socials as their first discovery point for the application of this genre.
• Eloelo has a strong organic growth, but the content loop has a lot of efforts which needs to be added from the platforms side to generate the content loop.
• Has currently acquired almost more than 50 Million + user during its entire journey with a 4.0 rating on play store.

🔬 The Product

Existing Flow of Eloelo

🧑‍🤝‍🧑 Experience of Friends/Family

Talked to 6 different individuals to understand their perception of the application and also understand their experience of using the application for 2 days (Started Monday Night till Wednesday Night)

📖 Findings from the 2 day Diary Study

1. Most of them mentioned that the application has some amount of entertainment but there are only very limited peaks when it comes to a live stream as these individuals on the platform are here for conversation and entertaining their viewers
2. The content seems focused towards tier 2 and tier 3 of India and directly keep the tier 1 group engaged.
3. The frequent gaming competitions held on the platform are very simple but fun to play with as the users also get rewarded for their time.
4. The platform allows us to meet people from all stages of life to all the cities across India
5. Tier 1 users mentioned that this application would ideal suit the tier 2 and tier 3 audience for their social activity as the current individuals on the platform remind them of that specific TG. Due to the conversation style, quality of conversation, behaviour and much more.

While my friends and family were experiencing the product I went on to understand more about our user base.

🌟 Reviews of Eloelo on Socials.

• I went on Twitter, LinkedIn, Facebook, Instagram (Post's comment section) to understand more about the Likes/Dislikes of the application.
• • Where I found out that there was nothing which stated good or bad about the application as most of our TA(Target Audience falls in the tier 2 and tier 3 space and we are solving for Users of Bharat.

Reviews of Eloelo on Play Store (Android App first)

This is the snapshot from the current play store console where we track our rating.

Based on the above sentimental word cloud, emotion visualiser and going through the reviews from the last week (from the play store console)

🧠 Analysis of User rating

😄 Factors of Delight

1. Users are delighted with the fact that they can meet new individuals on the platform from across the platform.
2. Most of the users mentioned that the app doesn't promote any nudity or NSFW content hence they prefer us over the our competitors (individuals who have previously used similar applications).
3. A significant amount of individuals mentioned that they have made great friends on the platform and kept mentioning the creators name on the reviews.
4. Some of the users also mentioned that there is always some or the other creator live on the platform be it day or night whom they can interact with.
5. A few of the users also mentioned that "They have found a family on the application".
6. Users also mentioned that their main motivation to use the platform was to play in new competition where they could earn money.
7. Users were happy about the fact that big celebrities like Puneet Superstar, Ishaan Ali, Akash Chopra came to the platform and interacted with other individuals on the platform.

😡 Pain Points

A lot of users did not understand the usage of the application and were confused as to how they can interact within the application.

1. There was a small segment of users who mentioned that different vernacular language was something that we missed and wanted more south indian language on the platform.
2. Core value proposition is not being conveyed for a very big set of the users.
3. Most of the users also complained about the data (internet) being consumed by the application.
4. There was a huge lack of trust being associated with live streaming
5. Users were overwhelmed by the design of the application as they did not know where to navigate and what the actual app provided.
6. There was a lack of communication around the in-app currency and if that currency could be converted into real money and withdrawal from the platform
7. As most of the creators are girls on the application it created a perception of dating and female entertainment (NSFW content) which most of the users did not enjoy.
8. Misalignment of the value proposition of users during the acquisition and the real value proposition of the application.

🏁 Core Value Proposition of Eloelo

🙎‍♂️ The User

Questions asked to the users:

1. Understanding the User
2. 1. Name, Age, occupation, city of origin, current city, family composition, marital status, w/o kids, educational background, current occupation, current living situation, monthly income, day to day routine.
   2. How has their life been so far?
   3. What are the stressors in their life?
   4. Dreams and aspirations
   5. Weekday and weekend routine
   6. Hobbies and interests
   7. How do they pass their time
   8. Applications being used on day to day
   9. 1. Need and usage of those applications
   10. Favourite movie, food, shows
   11. Current pain points in their life (apart from the application)
   12. Mobile Usage
   13. Internet Service provider
   14. Rating themselves on a scale of 1-7 to find their technology usability and adoption
   15. What are the different type of content which they consume
   16. Specific individuals whom they follow or like watching (Actors, influencers, etc)
   17. His relationship with Friends and his family
   18. 1. Frequency of interacting
       2. How often do they meet
       3. Activities that they perform with friends and family
   19. Places where they spend money
   20. Value of Time and money

🚦 ICP Prioritisation

Based on the above ICP selections, I further went to use the ICP prioritisation method:

1. Adoption Curve
2. Frequency of Use-case
3. Appetite to Pay
4. TAM
5. Distribution potential

🗺️ The Market- Potential Market Size

In-depth understanding of the market

1. Google Search for Use Cases:
2. 1. " Live Chat Online
      Other Keywords which we searched, for better understanding
   2. Make Friends Online
   3. Make Friends
   4. Find Friends
   5. Find Friends Online
   6. Call with strangers
   7. Chat online
   8. Live chat with strangers
   9. Live Chat
      
3. Google Search Volumes
   

   Type of search	Keyword	Search volume (avg monthly)	Difficulty to rank on seo	Avg cost per click	Projected Click through rate
   Use case	Live Chat Online	4.2 M	64%	$0.09	8.3%
   Competitor	ShareChat	2.2 M	71%	$0.08	5.6%
   Your product	Live Streaming	33.1k	97%	$0.24	3.3%
   Your brand name	Eloelo	1.2 M	43%	$0.07	4.9%

4. Youtube Use Case Videos
   
5. Reading Articles
   - No specific articles written around the product, but there are more than 1,39,00,00,000 articles on the internet for "Find Friends Online" but the target audience has a consumer behaviour rather than a creator behaviour except for Quora etc
6. Product Hunt and G2
   - As the target audience is not so aware and is centric towards Facebook, Instagram hence there are no reviews around it on product hunt or even G2
7. Competitors
8. 1. Sharechat
   2. Moj
   3. Frnd
   4. Tango
   5. Pococha
   6. Chamet (2nd highest revenue making platform in India)
   7. Astrotalk
   8. MX Taka Tak
9. Details about the competitor
   
10. 1. As we can see that most of the applications consider themselves as social networking

    	Installs	Social Tags	Rating
    Sharechat	100M+	Social & Networking	4.2
    Pococha	5M+	Social & Networking	3.7
    Tango	100M+	Social & Networking	4.1
    Frnd	10 M+	Social & Networking	4.5
    Moj	100M+	Social & Networking	4.2
    Astrotalk	10M+	Lifestyle	4.6
    Chamet	10M+	Social & Networking	4.0
    Eloelo	50M+	Entertainment	4.0
    MX Taka tak	100K+	Social Networking	4.0

11. Financials of the competitor

🌠 TAM, SAM & SOM

1. How frequent is the use case for the substitute solution in the market
2. Understand how much of each ICP exists in the geographies that you can serve in
3. How much of this is addressable and you can service.

Approach to calculate TAM

Top Down Approach

TAM= Users who would have access to the internet

TAM= 500 Million Unique Users

SAM Calculation

SAM: % of market that can be acquired based on the Eloelo space

• Eloelo provides Entertainment in a Live Format
• Eloelo acts as a social networking platform for Tier 2 and Tier 3 Audience
• Assuming a healthy share of 65% of the audience resides in rural parts of India

SAM= 65% of TAM

SAM = 65% of 500 million

SAM = ~ 330 Million

SOM Calculation

SOM= % of SAM that Eloelo can realistically capture.

• The core value proposition of Eloelo is entertainment and social network especially for the Indian Audience with the Tier 2 and Tier 3 mindset.
• Since Eloelo has a similar but hyperlocal context attached to it, it is healthy to assume that ICP's will at least 60% of the users will discover the application and give it a try

SOM = 60% of SAM

SOM = 60% of 330 Million

SOM= ~ 200 Million Users

Summary (TAM, SAM, SOM)

🤳 Channels Selection and Experiments

Eloelo is currently in the early stages of scaling, and we have been actively experimenting with various channels. While we have experienced success in some, there are others we which we haven't explored to their full potential or even tried in our current journey. I would like to test and experiment with a few new channels which previously have been either judged way to early into the product lifecycle or haven't been touched yet.

Currently we have been successfully executed performance marketing(paid ads) across various platforms. Organic acquisition has been happening through Instagram >> WOM >> Referral Section.

As of now Paid Ads have been the best in terms of channel due to its Flexibility, Effort, CAC, Lead Time and Scale wise. Hence, we have scaled mostly on it, and now we are experimenting for different channels

Channel Selection

🎱 Observations

1. 🟢 Organic (SEO): Currently Eloelo is getting a very decent amount of User base when it comes to search intent, but when it comes to buying Intent Eloelo is unable to capitalise and scale to it maximum potential. Especially in a case where there are already a lot of different opinions which the user can choose between, and
2. 🔴 Paid Ads: The ICP's spend at least 2-3 hrs everyday on social applications such as Instagram, Facebook, youtube, OTT platforms, etc. Hence, it will be easier for Eloelo to show ads to their ICPs when they are captive. But this channel has been actively being experiment and scaled in the past 2-3 years. Hence most of the platforms have been scaled.
3. 🟢 Referral: Eloelo has a very strong use case especially in the current time as most of the individuals are seeking companionship through online social platforms, but the recall doesn't exist, hence we can double down and revamp the existing flow to optimize it in the right way
4. 🟢 Product Integrations:Alls the ICP's of Eloelo use Service

💥 Areas which we would be experimenting on :

1. Content Loop (Organic)
2. Referral Design
3. Product Integration

Content Loop (Organic)

Current Setting

Context:

Eloelo is a platform where multiple Platform Celebrities and Influencers perform lives and their fans can interact with them on the platform through games, live chatrooms and much more which are called as special lives which usually gets a very high viewership.

Currently:

There are no capabilities for any individual on the platform to share his experience in the best way with his friends and family (which in our TG is the most important thing, the ability to flex and showcase new and trendy things between their friends).

Based on our Instagram activity we have seen individuals tagging Eloelo, Creator who came live on Eloelo on their stories either through screenshots or small video clips.

🆕 New Content Loop

Questions that we answered:

1. What kind of content can you produce that users will share?
2. 1. Small Clips from Happy moments of the users

Background:

We would be building a capability on the app for special rooms, where individuals who join the multi-call with the special host (Influencer/ Platform Celebrity) would be able to record the screen with higher clarity, with limited UI, but the watermark of Eloelo would be presented, post the call the user can either download the video or directly share it on his Instagram, Facebook and WhatsApp.

Flow Chart

📢 Referral System

Currently:

In the current flow there is no happy moments or validation around the experience of the user, instead the referral program has been attached in a section of the app where only a few users can go and there is no clear communication currently present around it,

On further having conversations with our users during the user calling we found out that more than the platform currency there where 2 different motivators.

Referral Program Design

There is a referral program on Eloelo, which is way to deep into the funnel, where a very small segment of the users click.

The current benefits which the user gets on referring others is:

• 10 Rupees as a reward for each successful install and Sign-up.

Instead of just editing the current referral program, we would also go and revamp the journey of referring a user and its positioning on the app.

• The referring user will get INR 10 and temporary badge which would provide exclusivity resulting in higher chances of the individual to get on a call
• The referred user will also get INR 10 and a increased chance to get on a call with the creator of his choice.
• Successful Referral: A referral will be considered successful when the referred person goes onto the multi-call of any creator and spends a minimum of 5 mins, as they would be able to experience the value proposition.
• The quota of 5 membership would be considered per day so that no scripts can be run on the referral program and this will nudge the referrer to only make high quality referrals and align it directly with individuals who are interested in the similar type of content, and not refer random people. This will keep the referral conversion % high
• This referral program will have an increasing reward structure. As more and more people are being referred. The weeks top referrers will get a orange tick on the platform which would help them gain more followers = fame and dopamine, while also providing higher chances of getting on calls with creators due to the trust safety marker of verified by Eloelo.
• • Money + Time based Badge -> Special Badge -> Blue Badge (Verification Mark)

Who will Eloelo ask for referral

Eloelo would be asking it to individuals who have spent atleast 10 mins on a live call and further will the live room satisfactory score (Rating out of 5), which would help us understand if the individual has experienced an AHA moment in the moment.

We can expand the scope to our competitions as well as we would get only users delighted by their experience on this page.

How will users discover the Referral

The existing user will have multiple ways to discover the referral program :

1. Post his interactivity in the Live room: The user would have to be on the multi call for more than 10 min in a Creators live, based on which we would ask for his experience with the creator. Bases which we would show the option to refer on the home pages, banner.
2. After winning the competition (Claim Section): As there are multiple competitions which are being hosted on Eloelo, a large segment of monetary driven users participate in the competition which leads to winners, and there is a section on the application were users can go and redeem the reward which they received from the competition. As this page is mostly access by winner of the competition, we would be asking for their experience with the competition and any positive note (4 💫 +) would result in us triggering referral which would be driven by the a small monetary reward.
   

In the proposed referral program: we would be showing the experience only after the individual has spent more than 10 minutes on a call with any individual creator(as the individual would have experienced the value proposition through the mutli-call and as they have spent more than 10 minutes on the call we would be sure that the user would be having a fun time, hence we would trigger the validation of it through our pop-up which would further lead us to the referral program

Where will users share the referral

The referrer will share the Referral Message/ link via WhatsApp. This is because majority of these referrers do their communication with friends on Whatsapp. The users will be able to get this referral message in the chat section on the app.

How will users track their referrals

The referrer will be able to track the referrals that they have made with us:

• App: Situated in the chat section as that is where most of the connections on the platforms are built.
• User would be able to nudge their friends either through a PN, if the user has registered on the application but hasn't performed the key action, or invite them to a live if the friend is unable to complete the task on his own.

This will be very easy to track since we would allow only 5 referrals per user per day.

How will they keep referring

The incentives structure will be tiered. Top referees will get priority access to celebrity lives where they can interact with the individual as they would eventually become the informal ambassadors of the product, but will initially start with money as that is the major motivator in our TG's life.

🤝 Product Integration

Based on the conversations which we had with our users, we found the following commonalities and trends:

1. Service provider platforms are the most common way for individuals to recharge their phones for our TG
2. They listen to music on Wynk, Jio Saavn music as it comes in the pack of their recharge
3. They also primarily use Hotstar and Prime video as they do not have a tv at home and these services come freely with their recharge
4. Most of them user these application at least once a day.
5. These platforms are used to keep the users entertained and engaged throughout the day.

Eloelo + Telecom Music platform (Wynk, Jio Saavn)- Current Scenario

Flow of discovery of experience by users:

• Users interact on these platform on regular basis
• User discovers a new product feature
• Users can interact and watch lives on the Music Platform
• Post 10 interactions they can download the application for Free

Post monetisation is being enable to Eloelo, we can do similar integrations with multiple apps that our ICP use like

1. UPI Apps for In-app currency discounts (25% off on the first purchase)
2. OTT platforms (Similar integration from above)