Brand Led Growth project

Section I: Crafting the Core Value Prop

Step 1: Understand the product

What is Jar?

The Jar is a micro-investment app that aims to cultivate a habit of daily savings amongst Indian users by leveraging the power of auto-investing in Digital gold with a min amount of 10 INR. With Jar, users can effortlessly accumulate small investments in Digital gold, which can be redeemed or withdrawn as per their preference.

What problem does the product solve for the user?

Habituate small savings (piggy bank savings)
Invest in Gold without the security risk
Park small change, surplus funds in a hedge asset

What are some customer benefits

Improve savings rate
Ability to invest and redeem funds at will in a asset with high return
Ability to buy actual gold
Jar has digitized the age-old Pigmy Deposit Scheme, allowing every Indian with a bank account to save an amount daily starting with only 10 Rs and auto invest as Gold

How is the current user solving the problem?

Offline monthly deposit scheme with jewelers, pigmy deposits etc.
Piggy banks at home
Fixed deposits in banks
Sovereign gold bonds and ETFs

Step 2: Define Job To Bew Done of your brand

Is your product operating in a new category or an existing one?

Micro investments in digitized gold is a new category with Jar being a Category Creator
Jar sits at the intersection of allowing MICRO investments in GOLD as an digitised asset. There are multiple players catering to the larger market of investments across quantum of investments and type of asset.

Is your product a push or a pull product? How will the JTBD of your product change based on its category and type of product

Gold investments are traditionally serve as conventional store of value of indian families. The total gold in indian household is reported to be ~21,000 tonnes surpassing the world bank reserves. Translating to a huge asset value to be unlocked. Gold is also used as a emergency store of value and saved for legacy and passing over to future generations. With such value attached to gold, the key non-negotiable for a user transating with gold is Trust, Trust and Trust with preference for physical form of gold over digitized gold.
With sufficient gold based business models already in place this is a Push Based product in a New Category with users need to educated, convinced and persuaded to change the spending habits from traditional gold to digitzed gold.
<add snapshot of the trust vs awareness chart>

JTBD for Jar operating as a push product in new category will be to educate, improve awareness and trust in the category i.e micro investments in gold.

Step 3: Understanding your user (define ICP)

3 major ICPs catered to Jar are as follows

ICP 1

The Family Man

ICP 2

The Urban Dweller

Step 4: Articulating the core value prop

Core Value Proposition of Jar For online investors [target customers] who need safe and secure investment in gold [need] , Jar [our product] is a micro investment app[category] that allows small size daily investment in digitized gold in 3 easy steps. [benefits/pain points]

Section II: Find your brand wedge

Step 1: Answer 5 core questions

What are some category insights? What are the top problems the category is suffering from?

Lack of awareness and education on small ticket investment and investment in digital gold. Conventional gold storage as an investment has risks on value erosion due to additional charges (making, wastage, commission), risk of storing at home or cost of storage at banks. Digital gold solves all these problem but the core blocker here is lack of trust.

What are your user problems? What are the top problems the user faces?

Flexibility to withdraw at will.
Assured returns without exit load charges.
Charges around gold esp. making charges, taxes, wastage charges. Is there a potential way to save on this.

What are your user non-negotiables?