What is Savart?

Savart is an AI-driven investment advisory service specialising in creating personalised portfolios across various asset classes, including stocks, mutual funds, bonds, and gold. It caters to users in markets like India, the USA, and Canada, providing unbiased and expert guidance to investors of all sizes. Savart believes in transparency and charges a fixed subscription fee without hidden charges or commissions, making ethical investment support accessible to everyone, regardless of investment size.

Problem

In India, approximately 80 million households invest in the stock market, accounting for 17% of the total population. As India's economy matures, it is poised for significant growth in stock market participation, with Western countries already seeing 60% of households holding equity investments. However, the challenge lies in the limited availability of investment advice. There are only 1300 Registered Investment Advisors in India, primarily operating as individual brick-and-mortar entities. This scarcity of advisors creates a massive challenge for ordinary investors seeking quality, long-term wealth-building advice. Consequently, an enormous gap exists in the current ecosystem, presenting a huge opportunity for improvement.

Value Proposition

Savart provides personalised investment advice using trusted technology built by experts to consistently achieve better performance.

How Savart works

Savart offers a subscription-based service tailored to each user's goals and risk profile. Here's how it works:

• Personalized Portfolios: When you subscribe, you'll first complete a risk profile. Savart uses this to create a customized portfolio just for you.
• Advice Limitation: You get 24 pieces of advice per year. This unique feature limits how often you can request advice, with each advice reflecting an addition to your existing portfolio.
• Direct Investment: Link your demat account to Savart. This allows you to invest directly through the app and helps Savart track your actual investments for more accurate advice and rebalancing.
• Independent Tracking and Rebalancing: Your portfolio is yours alone. It's tracked and rebalanced by Savart, always aligning with your risk profile.
• Investment Review: You can also have Savart review your existing investments. These will be added to the securities Savart tracks for future advice.

ICPs

Savart has over 4000 paid subscribers with active subscriptions, and based on our conversations with the internal team and over 100 user calls, here are key insights -

• Savart is founder-led, with users initially drawn to the platform due to viral talks by the founders.
• Clients engage with a Savart sales team member to subscribe, as the pre-subscription experience is limited.
• Unlike competitors like Deserv or Smallcase, Savart faces the challenge of being a SEBI registered investment advisor(RIA), necessitating it to charge the client upfront before providing investment advice.
• The current version of the application does not have any freemium experience. Instead, the sales team talks to the client and convinces them to make a sale.
• After subscribing, clients are assigned a dedicated relationship manager. The team aims to improve the overall application experience, reducing the reliance on relationship managers.

Now let's look at ICPs for the service -

JTBD

Onboarding Teardown -

Now let's look at specific actionables to improve the onboarding experience. Based on user interviews and sales calls the main answers an ICP is looking for after they sign up are - 

What does the product do? How much money can I make if I take their service? Will they consider my portfolio when recommending a new portfolio? Is this an app by Sankarsh(The founder)? Can I invest through their app? Is my money safe if an AI is managing it?

Now, the key changes we want to make are around creating a way for the user to experience a version of what we provide to address the most important user queries - 

1. Progressive Experience: Upon signing up, users will be seamlessly guided through the app with a step-by-step walkthrough. This method not only introduces the features systematically but also ensures that users recognize and utilize the full potential of the app, experiencing each aspect as intended.
2. Highlighting the Founder and Team: Embrace and highlight our founder-led brand, similar to Dezerv's approach. By featuring our founder and team more prominently, we acknowledge and leverage the trust and reputation they bring. This not only strengthens credibility but also fosters a personal connection with our users, aligning with the reason many chose Savart in the first place.
3. Emphasize Proven Performance: Set Savart apart by showcasing our proven performance, differentiating from competitors like Smallcase and Dezerv who present backdated results. Incorporate interactive graphs to display our historical success, allowing users to grasp the growth they missed. Complement this with integrated calculators, enabling users to project potential earnings in one go. This can be done by blending Dezerv's performance graphs and Groww's CAGR calculators.
4. Seamless Portfolio Integration and Review: Users can link their demat accounts before the subscription and then provide a comprehensive review of their current portfolio. This delivers immediate, valuable insights and introduces users to our sophisticated AI-driven portfolio management. This dual approach reinforces trust in Savart and showcases the tangible benefits of our technology-first investment strategies.

I believe these change collectively enhance user engagement, build trust, and demonstrate our commitment to delivering a superior, technology-driven investment platform that stands out in the competitive market while answering all the questions user have in mind during sign up.

Activation Metrics -

Given the way a user takes a subscription with Savart and based on user surveys I don't think just paying for the subscription is an activation metric so let's look at a few other options -

1. Engagement Through Advice Utilization:
2. • Hypothesis: Users are active when they seek advice from Savart more than 3 times.
   • Rationale: If users keep asking for advice, it shows they really trust and value what we offer. They're not just trying Savart out, but are coming back because they see it helping their investments.
   • Metrics: Number of Advices used, Total Advised amount
3. Performance-Driven Activation:
4. • Hypothesis: Users are active if their investments do better than the market in the first 2 months.
   • Rationale: Beating the market quickly shows users that Savart really works. This early win makes users trust and stick with our advice.
   • Metrics: Advised portfolio Profit, User's Invested portfolio Profit
5. Repeated Investment Actions:
6. • Hypothesis: Users are active if they invest through the Savart app more than once.
   • Rationale: Coming back to invest again means users trust us. They’re not just trying us once; they’re making Savart part of their regular investment routine, this combined with fact that they are investing through the Savart app indicates trust in the product.
   • Metrics: Number of times user invested through Savart app, Total Advices taken by the user
7. Portfolio Composition Alignment:
8. • Hypothesis: Having more than 3 Savart-recommended stocks shows an active user.
   • Rationale: If a user's investments match what we suggest, it's clear they’re following our advice closely, not just by chance.
   • Metrics: User's invested portfolio, Savart's Adviced portfolio
9. Adherence to Rebalancing Advice:
10. • Hypothesis: Users are active if they follow Savart's advice to rebalance at least once.
    • Rationale: Changing their portfolio based on our advice shows users aren’t just listening; they’re acting on our recommendations and really using Savart to guide their investments.
    • Metrics: Deviation between User's invested portfolio and Adviced portfolio, Total Rebalances sent to the user, Total Rebalances followed by the user.
11. In-depth Security Reviews:
12. • Hypothesis: Looking into more than 5 securities means a user is active.
    • Rationale: When review multiple securities, it shows they’re really like what we offer and are using Savart's insights to make smart choices.
    • Metrics: Total reviews given, List of Securities reviewed by the user

Other metrics to track -

• CSAT of RMs
• User's invested portfolio
• User's advised portfolio
• Time since first login of the user
• Time since the date of subscription
• Time between subscription and investment
• If the user has a demat account before subscription
• Heat map on landing page to see where are the users dropping off
• DAU/MAU (stickiness after 30 days)
• Time taken between the first login to the first investment
• Time between first investment & second investment
• Time between first investment & rebalancing
• Acquisition source analysis
• Number of users setting up goals
• Average size of an Advice
• Total demat linked by the user
• Names of the Demat accounts linked by the user