Acquisition project | StockEdge
About StockEdge
StockEdge is a Stock research and Analysis tool. It has a marketing website StockEdge.com which serves as a marketing landing page. Its web app is Web.stockedge.com, and the application is available on Android as well as Apple Play store.
Play-Store Information
10L+ downloads I Rating 4.5 Stars I 1L+ Reviews
App Store Information
4.5 Star , 1.3K Ratings
What People Are Talking About StockEdge
Reviews:
Reasons for 4 and 5 Stars
Users have mentioned the usefulness of Information for beginners and its easy-to-understand UI. Users have rated highly for trading, Investing analysis features and other analytics on stocks.
Reasons for 1 & 2 Stars
Users have mentioned app performance and old-looking UI as the reason for low ratings. Some Users have also compared this app to the competition and shared issues with plans' pricing and rated low for the same.
Search on Google for Brand
The Paid ad came on top , where it displayed Plan Information
The Organic Results mentions about some of its features and value proposition on stock analytics
Social Media Channels
Twitter : 100k followers
Instagram : 48K followers
YouTube : 143K Subscribers
Founder's Channel : 883k Subscribers
Summarization: About Product
StockEdge is popular with its users as it is rated high on Android and iOS. Considering many users have mentioned in reviews that they have been using it for more than a year and are happy with the product- it can be concluded it has crossed the Product market fit. The personal Brand of Mr. Vivek Bajaj - Co-founder has helped and continues to help the brand get new users. StockEdge also has reasonable followership on social media channels. However, considering the company has been existing more than 5 years- Social media numbers could have done better. The company is leveraging Google-paid ads as a channel as search results showed sponsored results.
Ideal Customer Profile
There are multiple personas when it comes to participating in the Stock Market. Some of the key ones are
Based on Duration
Investors: Typically invest in Stocks or Mutual Funds for longer periods (at least > 1 Year)
Traders: They look for short-term opportunities which range from 1-90 days
Based on Instruments
Stocks, Mutual Funds, Derivatives, Currency, Commodities etc.
Based on Skill
Beginners: With no or Limited knowledge about the market. While some of the users in this category want to learn and decide on their investing process in the market, some others just want to get recommendations on where to invest or trade.
Advanced users: These users have intermediate to advanced skills and do their homework before buying or selling.
There are some of the other behavioral traits - such as risk aversion, patience
Based on Demographics:
Considering stock market participation has evolved in the Internet era, both Tier-1 and Tier-2 city users participate in Stock markets. However, Tier-1 cities have higher participation in markets.
Gender: At Present more than 80% of market participants are Male
Age Profile: As per Similar Web 80% of market participants are in the age group of 25-34. This seems consistent with Broker websites, NSE websites, StockEdge Websites, and similar Companies.
Influencers and Blockers in trying out the new Product
Influencers | Blockers |
|---|---|
Market Conditions: When the Economy is doing good, Stock Market moves up. More and more people want to participate in the market and gain from it. | On the contrary, When the Market moves down People get cautious and tend to stay away from Stock Markets |
Friends/Family/Colleagues: If a friend is someone from the family who is a market participant and is making money in the markets, this works as a great influencer. | People who have made losses in the market tend to discourage others who are in the process of developing trading or Investing Skills. |
Social media: Stories of Success from rags to riches and, the presence of financial influencers on almost every social media platform influence the users to start investing in the market. | Story of Losers, how a Person lost all her/his money in the market. Examples of risk in the market. |
Free Learning Content: There are plenty of learning resources on the Internet - business news channels, which help users to be better informed about the investing and Trading process. | Information Clutter, Unreliable Influencers making unrealistic claims that misguide newcomers in the market |
Reduced returns with traditional saving instruments: Reduced interest rates in banks and FDs have influenced users to try better return instruments | Initial setbacks in the market, make users skeptical |
General Investor awareness campaigns: Campaigns like "Mutual Funds Sahi Hai" have reduced resistance towards stock market participation. | |
Trial Periods/ Short Duration Paid Trial Plans: Reduces friction later in moving to Full paid plans | Some Users have a lower willingness to pay unless they try out the product. At the same time, some users do not want to pay for Stock Analytics products and want everything as free. |
StockEdge's Ideal Customer Profile
| ICP-1 Long term Investor | ICP-2 : Trader | ICP-3 Beginner in Market |
|---|---|---|---|
Age | 25-50 | 25-50 | 25-30 |
Gender | All | All | All |
Location | Tier-1, Tier-2 | Tier-1, Tier-2 | Tier-1, Tier-2 |
Income | >10L per annum | >10L per annum | >3L per annum |
Where do they Spend time |
for research |
|
about the market
|
Pain Points |
which is not easily available. | Market Fluctuations, Sentiment can impact trades |
|
Goals / Use case | Long-Term Wealth Creation | Identify opportunities that can gave good results in short term | Learn and make money without making much loses |
Current Solutions | Screener, Stock Advisors, Portfolio Services Broker recommendations, Business news and conviction in some companies. | Self-Analysis on Platforms like Trading View, Other competition Products, Use News Channels Broker Platform reccomendations | Tips from Friends, Broker recommendations Telegram, Twitter Posts |
Influencers | Self Discipline, Success Stories of Long Term Investors | Self Discipline, Patience Success stories of Traders | User ratings Friends family recommendations about Product Founder's Video followership |
Blockers | Unfavorable economic factors, Product not meeting customization requirements that long term investors want in product | The Volatile market Competitor Products | Subscription costs Needs time to build market knowledge. Not comfortable with numbers |
ICP Prioritization
| Adoption Curve | Frequency of Usage | Willingness to Pay | TAM | Distribution Potential |
|---|---|---|---|---|---|
Advanced Investor | Low | Low | High | Medium | Low |
Advanced Trader | Low | High | High | High | High |
Beginner in Market | Low to Medium | Medium | Low- Medium | High | High |
From Above Prioritization : Trader Profile and Beginner Profile are Prioritized for Acquisition strategy.
- Beginner may have higher adoption curve than Investor and Trader - Engaging them in their initial learning phase has long term benefits, Beginners who really want to make money from market and via Do-It-Yourself approach have higher willingness to pay and higher usage frequency. There is good TAM as growth rate of DEMAT accounts in India is very promising.
- Trader has lower adoption curve, higher frequency of use and high willingness to pay with a sizeable TAM. This TAM has higher growth % than growth rate of overall Demat accounts in India. ( almost twice as per NSE data)
TAM, SAM SOM- StockEdge
Total Addressable Market
There are about 16Cr, Demat accounts in India out of which about 9Cr. are unique Demat Accounts.
Serviceable Addressable Market
Out of 9Cr. Accounts only about 50% accounts have holdings above 10k. ( % Quoted by Zerodha Founder Nithin Kamath in 2022, extrapolated for current numbers) ;
Assuming 30% of accounts will have holding above 25,000 , there will be 2.7Cr such accounts. In Indian Market 30% account for people who trade in Derivatives which is not a core Target segment for StockEdge. Considering this we have 1.9Cr accounts that would be Serviceable Addressable market.
Serviceable Obtainable Market
Considering Target minimum 20% market share for StockEdge SOM comes to be about 3.8Mn Users and Assuming at least 5% paid users with an ARPU of $100 SOM would be $19 Million.
Above SOM highlights that there is a good opportunity for StockEdge to acquire new users and scale.
Core Value of Product
StockEdge Core Value Proposition is its Cutting-Edge Stock Analytics which empowers retail Investors and Traders take Informed decision rather depending on others for Stock Advice.
JTBD Statements for ICPs
| Advanced Investor | Advanced Trader | Beginner |
|---|---|---|---|
Functional | Discover Good Stocks for Long Term Investing > 1Year | Discover Stocks for 1 to 90 days' time frame returns | Discover stocks with lesser efforts Learn |
Personal | Make better decisions with Higher conviction in Investments | Make better decisions with Higher conviction in Trades | Become better at Trading or Investing |
Financial | Highest Returns on Investment | Balance Risk to Reward ratio Highest Returns on Trades, | Highest returns, Alternate source of Income |
Social | " I am a mature market participant who is not bothered by ups and downs in the market and create long term wealth" | " I can identify price movement trends and leverage to make money in much smaller time" | "I will have a good portfolio someday" |
Acquisition Channels
Evaluation of Channels and Strategy
Channel 1 : Organic Search
Evaluation
StockEdge has great scope for SEO. Currently only few keywords rank in Top-10 searches. Currently, there are limited keywords that rank higher and have higher search volumes.
Keyword Ranking Distribution as per MOZ
Additional findings from SEO tool
a) Pages which have high loading time
b) Non-Indexed pages ; which should ideally be discoverable in SEO.
c) Low rankings in Keywords where product has right to win.
SEO Key Word Gap Analysis
Some example keywords have good search volumes amongst users and Product offering matches user search intent. Here opportunity exists for Improvement.
Proposed Experiment and suggested changes based on SEO analysis tool
- Work on Page Speed Insights
- Ensure META is added in pages ( few pages identified where META is missed)
- Create content-rich pages and ensure these are discoverable and can be crawled.
Channel 2: Content Loops
Potential
Content Produced by StockEdge
A) Stock and Mutual Fund Analytics: Example - Market Heatmaps, Stock Insights, Stock Screeners
B) Blogs: Learning Content for Beginners, Analysis of Macro/Micro economic factors and associated Stocks
C) Videos and Learning Content produced by one of the Co-founders - Vivek Bajaj and StockEdge Channel
Such content has high user pull and engagement content.
Considering a lot of Stock Market participants share screenshots on social media for Information such as
- Screenshot of analysis they do,
- Interesting movement in stock price
- Any Key Insight/News which may trigger some price moment in stock
- Major transactions/ Deals in stocks /IPO Gains
there is a good amount of quality content generated by StockEdge that is shareable and can be leveraged for making content loops.
Evaluation and Gaps
Contents by StockEdge | Hook | Generator | Distributor | Gaps |
|---|---|---|---|---|
Analytics Output | Analytics produced by StockEdge, that has a high user pull and has a high frequency of use | Product | Founder, StockEdge Internal Team | Number of Users sharing this is Limited. Sharing option exists in app; however does not exist in few screens Consistency, nudge and ease of sharing to be increase |
Blogs | Theme based Blogs, Learning content that Users are constantly looking for | StockEdge Blog team | Blog Website- by StockEdge team | The comment section is almost hidden which may not be evident tothe user and the opportunity of UGC is missed |
Videos and Learning content by StockEdge | Videos on Market Insights | StockEdge Team, Founder | You Tube | While Founder Channel is popular, The product You Tube channel is 1/10th in number of subscribers. Initially Channel had market insights related video having higher pull. Can be revived. |
Proposed Experiment to View impact
A) For Product Analytics output - User can be nudged to share existing content that has high engagement quotient amongst users. One of the proposed changes in one of the screens.
Change to below
Would be Posted in Twitter as below
Hypothesis: At least 5% users will be interested to share the insight when sharing is made evident. At present sharing is not intuitive in the product.
I
Channel 3: Paid Advertising
StockEdge has Monthly Plan and Annual Subscription Plans. Below is CAC / LTV Calculation based on assumed data.
Since CAC/LTV is favorable - Paid advertisements make sense to acquire future users.
Ideal Customer Profile Chosen for Paid Ads
The profile chosen here is of a Beginner user who is still in the learning phase and is searching for useful Trading Strategies that can give profitable opportunities in the next few days. From Post PMF perspective, this feature has good feedback and is popular amongst existing users.
As per SEO volume, about 50,000-80,000 users are searching for Trading Strategies, Swing Trading and similar terms on google and has a reasonable keyword cost. Below is a sample Creative for Google Ads.
Creative -1
Google Ad Targeted towards
Creative Ad-2
Below is the second Creative Example that could resonate with Chosen ICP ( Beginner Trader )
Market Pitch: Improve the Success of Your Trades ( Hook)
Why : Beginner Traders may have taken one or more trades and most have them would have seen some success but more setbacks(Problem) . The story on left is what is many of them would be facing currently and story on right is what they can gain with StockEdge (Solution)
END of Submission
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