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 the Apple Play store. It is Freemium product where Much of the market data and small portion of Stock analytics is free and Advanced level analytics is behind pay-wall.
Play-Store Information
10L+ downloads I Rating 4.5 Stars I 1L+ Reviews
App Store Information
4.5 Star , 1.3K Ratings
Key Marketing Pitch
StockEdge believes in empowering retail investors by providing them with tools that will help them take informed decisions for Trading and Investing rather depend on unreliable Stock Tips. Its key marketing pitch is also built around this
Be your Own Expert
Above marketing pitch resonates with communication on its website which talks about making a user better trader or Investor
This also reflects in the reviews of users about the product. This which confirms that users are getting value from the product which is in line with Product pitch
What People Are Talking About StockEdge
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.
Summarization: About Product
StockEdge is popular amongst its users and is rated high on Android and iOS. Considering many users have mentioned in their reviews that they have been using it for more than a year and are happy with the product- it can be concluded that it has crossed the Product market fit.
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, the Stock Market moves up. More and more people want to participate in and gain from the market. | 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 | Medium |
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
Disclaimer: Calculation numbers are assumed to highlight the process and may not reflect actual SOM.
Total Addressable Market
There are about 16Cr, Demat accounts in India out of which about 9Cr. are unique DEMAT Accounts.
Considering a DEMAT account is a must for Stock Market Participation, only those users who have DEMAT accounts can be regarded as for TAM calculation. These 9Cr. is the current Total Addressable Market
Serviceable Addressable Market
Out of 9Cr Unique Users, not everyone is ICP Match for StockEdge. The SAM would depend on users' breakup as per
a) Preference of Instrument for Investment ( equity/F&O/MF/Commodities)
b) Basis of Investment decisions ( Own Market research/ Broker advice/Friends/No research)
SAM Calulation
On the basis of certain assumptions wrt ICP match and basis of Investment decisions SAM is calculated as 2.5Cr.
References for Market Research:
A) Indian Stock Market : study on rise of retail Investors in
Indian stock market: A study on the rise of retail investors (allcommercejournal.com)'
B ) India’s mutual funds industry outpaces global peers with 19% asset growth | Mint (livemint.com)
Serviceable Obtainable Market
Now this SAM is available to all the Market players like Screener, Moneycontrol, ET Money, Trendlyne, and Others like Motilal Oswal+ Others
On the basis of certain assumptions following SOM is arrived. ( ARPU for below calculation )
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
Disclaimer: Calculation numbers are assumed to highlight the process and not reflect actual plan or data.
Goal: Acquire 500K new users by the end of 6 months
Evaluation of Channels and Strategy
Channel | Cost | Flexibility | Effort | Lead Time | Scale |
|---|---|---|---|---|---|
SEO | Low | Low | High | High | High |
Google Ads | High | High | Low | Low | Low |
Social Media | Low | Low | Low | Low | High |
Content Loop | Low | High | High | High | High |
Founder's Brand | Low | High | High | Low | Low |
Selected Channels
- Considering SEO has long term benefit SEO needs to be worked upon
- Content Loop, StockEdge creates good amount of learning and analytics content. Lot of users read StockEdge Blogs, and Learn from Founder Vivek Bajaj. Additional layer of user sharing the content can help acquisition.
- Paid Ads makes sense as - User spend good amount of time searching on google and matching Intent with Product offering can be a win-win for users as well as StockEdge
Plan to acquire Incremental 500K users in next 6 months
Execution Gaps and Actions
Channel 1: Organic Search
Evaluation
StockEdge has great scope for SEO as few keywords rank in the Top-10 searches. Also, there could be a good number of keywords that have higher ranks and search volumes.
Keyword Ranking Distribution as per MOZ
Additional findings from the SEO tool
a) Non-Indexed pages ; which should ideally be discoverable in SEO.
b) Low rankings in Keywords where the the product has right to win.
c) pages which have loading time more than acceptable limits as per page speed insights
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
Why Content Loop is Preferrable?
Content Produced by StockEdge
A) Blogs: Learning Content for Beginners, Analysis of Macro/Micro economic factors and associated Stocks
B) Videos and Learning Content produced by one of the Co-founders - Vivek Bajaj and StockEdge Channel
C) Quality output on Stock and Mutual Fund Analytics: Example - Market Heatmaps, Stock Insights, Stock Screeners
Such content has high user pull and engagement content.
A) Blogs
Creation | Creator | Distributor |
|---|---|---|
High Quality Learning Blogs | StockEdge | Google, Blog Website |
StockEdge Blog has high-quality Content and is read by thousands of users every month.
B) YouTube
Creation | Creator | Distributor |
|---|---|---|
Learning Videos | Founder StockEdge Team | YouTube |
Founder Vivek Bajaj's Videos are very popular amongst market participants as he creates highly practical content for market participants and also shares his learnings from the market.
C) Analytics Content Produced by StockEdge which has high utility for users
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
Creation | Creator | Distribution |
|---|---|---|
StockEdge Analytics Outputs | StockEdge Product | Users |
A good amount of quality content generated by StockEdge that is shareable and can be leveraged for making content loops
Considering StockEdge's Social Media Presence is good, User generated content can be leveraged.
Twitter: 100k Followers
StockEdge YouTube Channel: 150K Followers
How User Content Loop Can Work
StockEdge App ---> Content Shared by StockEdge on Twitter and Youtube, Blog----> Users see---> Go to StockEdge App---> Get Aha Moment--->Share content on Twitter/Youtube---> Tag StockEdge--->New Users
Proposed Experiment to View Impact ( A reference example )
A) For Product Analytics output - Users can be nudged to share existing content that has a 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% of users will be interested in sharing 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
Ad Objective :
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)
Metrics to be Tracked
- Ranking Improvement on pages which have been worked for SEO
- CTR : Click through rate : for SEO as well as Ads ; Target > 10%
- Landing page conversion rate : Target > 10%
- Cost per click
- Signup ratio
- Bounce rate on Landing Page : to check if user is getting what they searched for , Target < 1%
- LTV/CAC for paid channels : Target > 4
- Number of users sharing the content : Target 5% users
Expected Spend and Outcome
Budget Calculations
Return on ADs spend, Expected LTV for Paid ads, Organic SEO and Content Loop
- CAC for Ads: Google Ads budget + Digital Marketing resources cost
- CAC for Organic + Content: Cost of team hours working on Content creation and SEO efforts
Summary
- StockEdge is a Sock research and analysis tool which has 4.5+ rating on App store and Play-store. Its mission is to empower retail investors and make them independent in their decision making for Investing and Trading. The same is reflected in reviews of users.
- StockEdge ICPs are Beginners in market and Advanced Traders and Investors
- In Terms of Acquisition, it would make sense for StockEdge to work on a) SEO for its long-term scalability and distribution potential, b) Paid Ads for its flexibility and channel - user match c) Content loops where it should continue to generate and distribute content on its own but also leverage its user base to promote the content. It would need some modifications in existing user journeys to make that discoverable.
- A Sample Acquistion plan and budget plan with Returns on Spend is prepared for the same.
END OF SUBMISSION
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