Acquisition | PocketFM

Elevator Pitch

(Think of this as an introduction to your product- make it remarkable!)

Tired doing mindless scrolling on Instagram/Facebook while getting bored in traffic or waiting of your doctor's appointment or countless such occasions? Worried to find that next 15 mins of "timepass" on Youtube for your entertainment at night before dozing off. Look no further, Pocket FM is hear to provide easy to access audio content with wide range of shows on variety of topics/genres of your choice. So sit back and let's entertain you while you navigate mundane moments of life.

Understand your Product

Pocket FM is an audio content streaming service with more than 10Mn+ monthly active users. It specialises in long form serialised fiction content which provides screen-free entertainment on the go to the listeners. It helps eliminate boredom during mundane hours of the day with its vast library of freemium content.

Understanding Core Value Proposition

Core Value Proposition: Entertainment for users by giving freemium audio fiction entertainment in their mundane hours of the day. Users verbatim reflects that product does what is promises to deliver

"Mein factory jaate aur aate hue bus mein 8-10 episodes sunta hun aapke show ke; pata hi nai chalta time kahan nikal jaata hai"

Understanding the Users

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

After talking to 8 users, these came as common themes across all people who bragged about PocketFM in their circle

All users consume the product majorly in two time buckets: Before 11 AM and after 9 PM, and occasionally during 11-9 for consuming few episodes.
They consume more than 45 minutes of content in one session and like the simple to understand language because they mostly engage in some other activities while consuming Pocket FM
Some of the users prefer playing games on their phones while listening to content (Mainly users under 25)
Users like daily free content and also model where they can pay for the content that they want to binge but also find recharges cumbersome and costlier.

After talking to 3 churned users, these came as common themes across all people who did not enjoy PocketFM experience

Lack of depth in content categories like learning, self help, non fiction(crime & documentaries) which they find on other platforms: KuKu FM, Spotify, Youtube, Audible, etc.
Content gets draggy and predictable in long format model and trying any new series requires very high intent which they sometime postpone.

Understanding your ICP

(There are separate tables for both B2C and B2B products, put down your your ICP’s in a Table Format, use this as a reference.
This table makes it super clear for anyone to understand who your users are and what differentiates them)

B2C Table

Criteria	User 1	User 2	User 3
Name	Aakash	Richa	Manohar
Age	19-35	25 - 35	50+
Gender	Male	Female	Both
Income Group	10k - 50k / month	< 10k / month	50k+ / month
Need	Entertainment while commuting to work	Entertainment while doing household chores	Entertainment in free time after retirement
Pain Point	poor network to consume video content	can't look at screen while doing work	lack of content options catering to their needs
Solution	low internet consuming content options	hands free content options	Age appropriate content
Behaviour	Downloads videos before starting commute	Listens to tv shows running on TV in living room while working in the kitchen	Keeps scrolling on Youtube or TV channels to find option to kill time
Marketing Pitch	High	High	Medium
Frequency of use case	High	Medium	Medium
Average time on the product	1 hour, 30 min	3 hours	2 hours
Propensity to pay	Medium	Low	Medium
Value Experience of the product	Very High	High	High

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 this ICP prioritization table)

Criteria	Aakash	Richa	Manohar
Adoption Curve	High	High	Medium
Appetite to Pay	Medium	Low	High
Frequency of Use Case	High	Very High	High
Max Time Spent for Entertainment	Youtube, Instagram, Skill Based Games	TV, Instagram, WhatsApp	Facebook, Spotify, Casual Games
Distribution Potential	High	High	Medium
Annual TAM	4200 Cr (Popln of this segment = 350Mn 20% if which is in this income group ARPU = 50*12 = 600/year	6000 Cr (Popln of this segment = 250Mn 80% if which is in this income group ARPU = 25*12 = 480/year	1500 Cr (Popln of this segment = 250Mn 10% if which is in this income group ARPU = 50*12 = 480/year
Annual SAM	3600 Cr (50% of population with access to internet + UPI)	1200 Cr (20% of population with access to internet + UPI)	750 Cr (80% of population with access to internet + UPI)
Annual SOM	360 Cr (~10% of users will be willing to pay of the service)	60 Cr (~5% of users will be willing to pay of the service)	40 Cr (~5% of users will be willing to pay of the service)

Highest Priority: ICP 1: Aakash

Second Priority: ICP 2 Richa

Third Priority: ICP 3 Manohar

Understand Market

Factors	KuKu FM	Audible	Spotify
What is the core problem being solved by them?	Self Help in Audio Format	Books in Audio Format	Music in Audio Format
What are the products/features/services being offered?	Mainly Audiobooks & Self Help Podcasts, Some Audio Fiction Shows	Mainly Audiobooks & Self Help Podcasts	Music Streaming, Knowledge & Entertainment Podcasts
ICP Overlap	Aakash & Manohar	Manohar	Aakash & Richa
What channels do they use?	Organic, Paid Ads, Influencer Collaborations	Organic & Paid Ads	Content Loops, Paid Ads
What pricing model do they operate on?	99 / Month + Pay as you consume	199 / Month	119 / month Subscription
Funding/Market Cap	72 Mn $ till date	Acquired by Amazon	60+ Bn Market Cap
What is your product’s Right to Win?	Huge Library in Indian Languages for Audiobooks	Highest Selection of Books in Audio Format and Amazon's distribution	Distribution across the globe. Highest saliency in music streaming can easily help in entrying newer categories
What can you learn from them?	Cracking Influencer Marketing Channel	Leveraging strategic partner like amazon for distribution and selection	User Recommendations & Content Loops in form of playlist sharin

Designing Acquisition Channel

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

Channel Name	Cost	Flexibility	Effort	Lead Time	Scale	Priority Score (Mature Scaling
Organic Search	Low	Low	High	High	Low	5
Influencer Collaborations	Medium	Medium	High	Medium	Medium	3
Facebook Ads	High	High	High	Low	High	1
Google Ads	High	High	High	Low	High	1
Referral Program	Medium	Low	Low	High	Medium	4
Product Integrations: Airtel/Jio	Medium	Low	High	High	High	2
Content Loops	Low	Low	Low	High	Medium	4

Priority Score is determined for a mature scaling product like Pocket FM while prioritising in the following order:
1. Scale
2. Flexibility and Lead Time
3. Effort and Cost

The Acquisition Channels to Focus currently are:
1. Paid Ads: Facebook & Google Ads
2. Social Media Marketing

Detailing your Acquisition Channel

Paid Ads: Facebook & Google Ads

Product Funnel: Install --> Activation (1 Hr Engagement on Product) --> 1st Transaction on Product

Campaign Objective: Scale while maintaining similar CAC, Experiment and then improve LTV/CAC further Target is to reach 10% Penetration for ICP 1 (Aakash) in terms of Paying Users on Product

Ideal LTV (1 year) by CAC would be 3:1

Audience Selection: Age 18 - 35 Male
Look Alike Audience who engages and pays on product already.

Creative Strategy:
Video Ads promoting top content with best hook for this ICP.
Relatable, Aspirational and Bingeworthy show promos to be served to the Audience

Campaign Design:
Goal Optimise App Event (Purchase Event)
Placement: Open, Let platform optimise as the creative engagement

Exclusion: Devices which are alread paying users of the Platform

Budget: Scale Adgroups with highest RoAS, Starting with 2500 Daily and keep increasing budget till the time CAC is in control

Experiments for Reducing CAC or Improve LTV

Experimenting with different edits of same video (Length wise, Content Wise) and adapting the best performing ads in different formats (animation, Live Action, Video Podcast Format)

Use famous celebs/influencers as cast in the promos to drive salience with their fans and increase engagement on Ads and hence bring down CAC. Can help scale far & wide with limited creative fatigue

Experiment with different, description, headlines, CTA

Drive Urgency: Limited Period Offer (Higher Free Content, Discount on Coins Pack, etc.)

Generate and pass different In App events done by Paying Users to better understand their profile and Platform to allow such users to be Target (Eg: Engagement Times of High Paying Users, etc.)

Product Integrations

Objective: Tab into highly paying users of Telecom companies like Jio/Airtel and get them to sample PocketFM content and potentially convert some of them to PocketFM Paying Users

Syndication of PocketFM content within Wynk (Airtel) and Saavn (Jio) via RSS feed with limited free episodes of the popular shows which will encourage users to sample more content by Installing PocketFM App. The Host App get a flat listing fee and also % rev share for first transaction made by users coming via Partner Product to PocketFM

Free 7 Day Trail Pack on to consume Content on PocketFM for every recharge of 199 or Above with Jio or Airtel. This will motivate users to download PocketFM App and sample content and start paying for binging more content that they would like.

we hope this helped you break the cold start problem!

Reminder: This is not the only format to follow, feel free to edit it as you wish!