Acquisition project | Stable Money

Part I: User, Product and Market

Understanding the product

There are no organic results/advertisements of Stable Money on any platform. What I could find was a paid-partnership video from LLA on YouTube which has a product referral link embedded in the description.

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​Understanding the user

I went ahead and talked with 40 users from Stable Money who have been using our product for a few months now to understand their pain points. I realized a few things when talking with them:

PDF attached containing detailed user interviews:

ICP Customer Calling Summary [10].pdf

​Ideal Customer Profile Prioritization​

ICP Prioritization Parameters:

1. Adoption Curve → Lower Adoption Curve
2. Frequency of Use → Higher Frequency
3. Appetite to pay → Have an appetite to pay
4. Total Addressable Market (TAM) → Sizable TAM
5. Distribution Potential → High distribution potential

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Ideal Customer Profile​

ICP 1: The Safe Investor

- Demographics: Ages 30-50, married, with children.

- Occupation: Professionals or small business owners.

- Financial Behavior: Prefers stable investments (FDs, PPFs, want to explore bonds), interested in insurance, seeks secure returns. Interested in insurance products (health, life) and may have a home loan. Saves a significant portion of income, looking for secure returns over high risk. Consult traditional and digital sources for financial advice.

- Digital Engagement: Comfortable with online banking/investment but values security and simplicity, moderate social media (Facebook/WhatsApp/YouTube) use.

- Investment Goals: Long-term security, children’s education/marriage, retirement.

- Estimated Distribution: 60% of interactions.
- Blockers: Children wanting them to diversify their portfolio and invest in higher risk assets
- Influencers: Parents and colleagues wanting them to have secure assets.

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ICP 2: The Tech-Savvy Explorer

- Demographics: Ages 23-35, single or recently married.

- Occupation: Employed in tech, finance, or other professional sectors.

- Financial Behavior: Diversified investments (stocks, mutual funds with 10-25% in FDs), open to new avenues (P2P, cryptocurrencies), uses multiple investment apps. Actively manages investments through apps and platforms.

- Digital Engagement: Highly active on social media, follows financial influencers on YouTube or Instagram for tips and advice. Prefers platforms with good UI/UX and seamless digital experiences.

- Investment Goals: Wealth accumulation (12-16% ROI), early retirement, or specific financial milestones (buying a home, vacation or travel).

- Estimated Distribution: 30% of interactions.
- Blockers: Colleagues wanting them to invest in latest/trending assets
- Influencers: Parents wanting them to have stable investment and emergency funds

​Product Category and Market​

​Top Competitors for Fixed Deposits

1. Bajaj Finance
2. • Strengths: Offers high interest rates, up to 8.25% for regular FDs and 8.50% for senior citizens. Known for its competitive rates and various tenure options.
   • Weaknesses: Lower brand recognition compared to major banks, and may have stricter eligibility criteria and fewer branches for physical banking.
3. SBI (State Bank of India)
4. • Strengths: Strong brand reputation, extensive branch network, and reliable customer service. Competitive interest rates are around 7.10% for regular FDs.
   • Weaknesses: Slightly lower interest rates compared to some NBFCs and private banks. The process can be bureaucratic and slow.
5. HDFC Bank
6. • Strengths: Offers a comprehensive range of banking services, robust online banking platform, and competitive interest rates up to 7.75%. Highly trusted brand.
   • Weaknesses: Minimum deposit amounts can be high, and interest rates, while competitive, are not the highest available.

Part II: Core-Value of Product and TAM/SAM/SOM​

Pitch for Stable Money

1 minute pitch:

Are you a savvy investor looking for stable returns with minimal hassle? Do you crave a secure and profitable way to manage your finances without the typical banking headaches? Look no further!

That's where Stable Money steps in. Stable Money offers a seamless, fully digital platform for booking fixed deposits (FDs) with higher interest rates than traditional banks and NBFCs. Say goodbye to the cumbersome FD booking process and hello to an effortless, profitable investment experience.

What's the value like??

Nearly 40% of FD investors in India are dissatisfied with the complex and inefficient process of booking FDs through traditional methods. Stable Money solves this by providing a smooth, digital FD booking experience that maximizes your returns and minimizes your effort.

Join thousands of satisfied investors who have already discovered the convenience and profitability of Stable Money. Elevate your investment experience by signing up now!

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Problem

Traditional methods of booking FDs are cumbersome and inefficient, requiring multiple visits to different banks and extensive paperwork. Investors often miss out on the best rates due to the complexity of comparing offerings across institutions.

Solution

Stable Money provides a streamlined, user-friendly platform where investors can book high-interest FDs from multiple banks without opening separate bank accounts. This simplifies the investment process, ensures easy access to the best rates, and enhances overall user experience.

Core Value Proposition

Stable Money offers the unique advantage of allowing users to effortlessly invest in insured, high-interest FDs online. Our platform maximizes returns by presenting the best interest rates available and minimizes effort with a simple, intuitive digital process. This creates an "AHA" moment for users, who realize the ease and profitability of using our service.

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Total Addressable Market (TAM)

Definition: TAM is the total market demand for a product or service, representing the entire potential market if there were no competitors and 100% market share.

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Calculation:

TAM is the total market demand for a product or service, representing the entire potential market if there were no competitors and 100% market share.

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TAM=Total Population × Working Age Population Percentage × Internet Penetration × Banked Population Percentage × FD Investors Percentage

TAM=1.4 billion×0.30×0.75×0.80×0.50

TAM=126 million people

Serviceable Available Market (SAM)

​Definition: SAM is the segment of the TAM targeted by the company's products and services which is within its reach.

1. Target Market:
2. • Initially focusing on urban and semi-urban areas where internet penetration and financial literacy are higher.
   • Targeting users who prefer online investment platforms.
3. Urban and Semi-Urban Population:
4. • Approximately 35% of India's population lives in urban areas.
5. Tech-Savvy Investors:
6. • Assume that 60% of the urban and semi-urban banked population is comfortable with online financial services.

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​Calculation:

SAM=TAM × Urban and Semi-Urban Population Percentage × Tech-Savvy Investors Percentage

SAM=126 million×0.35×0.60

SAM=26.46 million people

Serviceable Obtainable Market (SOM)

Definition: SOM is the portion of the SAM that the company can realistically capture in the short to medium term.

Market Penetration Strategy:

1. • Aggressive marketing and competitive interest rates.
   • Partnership with multiple banks to offer higher interest rates.
   • Assume an initial market capture rate of 5%.

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Calculation:

SOM= SAM × Initial Market Capture Rate

SOM= 26.46 million × 0.05

SOM= 1.323 million people

Summary

• TAM: 126 million people
• SAM: 26.46 million people
• SOM: 1.323 million people

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Part III: Designing Acquisition Channels

Product Integration Channel Matrix

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Experiment 1: Product Integration with Personal Finance Apps

Objective: Enhance user acquisition and retention by integrating Stable Money with popular personal finance management tools.

Experiment Design:

1. Identify Potential Partners:
2. • Look for fintech apps and personal finance management tools with a large user base, such as Dhani, YNAB (You Need a Budget).
3. Integration Development:
4. • Develop API integrations that allow users to view and manage their FDs directly from the partner apps.
5. Joint Marketing Campaigns:
6. • Collaborate with partner apps on co-branded marketing efforts. Examples include in-app promotions, joint email newsletters, and webinars focused on FD investments.
   • Highlight the integration benefits in marketing materials, emphasizing convenience and enhanced financial control.
7. User Feedback and Iteration:
8. • Collect feedback from users who utilize the integration to identify pain points and areas for improvement.
   • Iterate on the integration based on user feedback to enhance functionality and user satisfaction.

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Expected Outcome:

• Increased user acquisition through access to the partner apps’ user bases.
• Higher user engagement and retention due to the convenience of managing FDs within their preferred finance tools.
• Enhanced brand visibility and credibility through partnerships with established personal finance apps.

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Experiment 2: Audio Content Campaign on KukuFM

Objective: Expand the reach of Stable Money by leveraging the networks and expertise of financial advisors.

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Experiment Design:

1. Identify Relevant Content:
2. • Research and select top-performing financial podcasts and audiobooks on KukuFM that cater to an audience interested in personal finance, investments, and wealth management.
   • Approach popular podcast hosts and audiobook creators within this niche for potential collaborations.
3. Content Creation:
4. • Develop engaging audio segments that explain the benefits of investing in FDs through Stable Money.
   • Include success stories, expert interviews, and practical tips on managing FDs digitally.
   • Create a compelling call-to-action that encourages listeners to visit Stable Money and start their FD investments.
5. Integration into Existing Content:
6. • Collaborate with selected podcast hosts and audiobook creators to seamlessly integrate Stable Money promotions within their content.
   • Ensure the promotion aligns with the content's tone and style to maintain authenticity and trust.

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Expected Outcome:

• Increased user acquisition through the large and engaged audience of KukuFM.
• Higher user engagement due to the educational and informative nature of the content.
• Enhanced brand visibility and credibility through association with trusted financial podcast hosts and audiobook creators.

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Experiment 3: Partner Programs - Collaborations with Corporate HR Departments (Razorpay X)

Objective: Expand the user base by partnering with corporate HR departments to offer FD investment options as part of employee benefits.

Experiment Design:

1. Identify Target Corporates:
2. • Focus on medium to large-sized companies with a significant number of employees.
   • Prioritize companies known for offering comprehensive employee benefits packages.
3. Develop Partnership Proposal:
4. • Create a compelling proposal highlighting the benefits of FD investments for employees, such as higher returns and easy management through Stable Money.
   • Offer tailored packages that can be included as part of the company’s financial wellness programs.
5. Implementation:
6. • Work with HR departments to set up information sessions, webinars, and workshops to educate employees about the FD investment options.
   • Provide marketing materials and resources for HR teams to distribute among employees.
7. Employee Incentives:
8. • Offer special interest rates or bonuses for employees of partner companies.
   • Provide referral bonuses for employees who refer their colleagues to the platform.

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Expected Outcome:

• Increased user acquisition through corporate partnerships.
• Enhanced credibility and trust as a provider of financial solutions endorsed by employers.
• Higher investment volumes due to the larger pool of potential users from partner companies.