Acquisition project | Level Supermind
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Acquisition project | Level Supermind

The Context

Product Overview

Screenshot 2024-03-30 at 1.03.37 PM.png

ICP:

ICP 1 (Primary)

ICP 2 (Primary)

ICP 3 (Secondary)

Profile Name

Jasmin

Aryan

Vishal

Age

25-35

16-25

35-45

Gender

Any

Any

Any

Marital Status

Any

Unmarried

Married

Location

Tier 1 & Tier 2 Cities

Tier 1 & Tier 2 Cities

Tier 1 & Tier 2 cities

Occupation

Employee/Professional/Entrepreneur at fast-paced startups, marketing agencies, corporates, and e-commerce platforms.

Student, Interns, Freelancers

Senior employee/professional at a corporate, startup, or business owner

Income

6 - 25 LPA

0-3 LPA

15-40 LPA

Where do they spend their time digitally?

Youtube, LinkedIn, Instagram, OTT Platforms, (Netflix and Prime), Twitter, Casual gaming.

Instagram, Youtube, Snapchat, Discord, mobile games.

Netflix and Prime, Quora, Facebook, and YouTube.

Where do they spend their time physically?

Workplace, Commute, Home, Dining, Events (movies and concerts)

College, coaching classes, cyber/gaming cafes, mini hangout places in proximity, home.

Workplace, commute, home, recreational and entertainment venues, shops and malls, and restaurants.

What do they spend their money on?

Rent/Utilities/Groceries, food (dining out/ordering home), clothes, electronics, personal care.

electronic gadgets, food/snacks, stationery supplies, apparel.

Rent/EMI, groceries, utilities, family trips, kids education and wellbeing, clothes, personal care.

Behaviours

Relies heavily on technology for work and personal interests.

Tries to incorporate short meditation sessions into the daily routine but often struggles with it.

Tries to maintain a healthy lifestyle with regular exercises and mindful eating.

Prefers tracking progress but can’t sustain it by tracking it actively or manually.

Follows a strict study schedule with set study hours and breaks.

Uses technology extensively for research, online study materials, and practice tests.

Seeks out study hacks, apps and resources to optimise learning and retention

Values efficiency and time management to cover the extensive syllabus

Uses smartphone extensively for work and personal communication

Enjoys trying out new apps that promote relaxation and mindfulness

Set aside time in the evening for self-care activities

Tries to maintain a healthy lifestyle with regular exercise and mindful eating

Interests

Listens to podcasts during commute.

Reads self-help and related books.

Follows wellness and mindfulness influencers on social media.

Spends long hours studying in libraries or at home.

Attends coaching classes or online courses for exam preparation.

Participates in study groups and discussions with peers

Practices yoga/workout twice a week for stress relief

Attends networking events and professional development workshops

Reads self-improvement books and listens to podcasts during commute

Goals

Enhance focus and productivity at work.

Improve physical health and quality of sleep for better cognitive function and energy levels.

Cultivate a sense of calm and engage in mindfulness, spiritual exploration and more.

The umbrella goal is to grow personally and professionally.

Achieve a top score in the competitive exam (JEE, NEET, CAT, UPSC, etc.) to secure admission to a prestigious university.

Reduce exam-related stress and anxiety for better performance.

Optimise study routines, and improve concentration and focus.

Find ways to manage stress more effectively.

Improve overall well-being and mental clarity.

Establish a better sleep routine for improved energy and focus during the day.

Pain points

Struggles with stress and anxiety due to work deadlines and family responsibilities.

Difficulty falling asleep at night because of a busy mind or difficulty disconnecting from digital screens.

Craves focus and peace amidst the chaos of daily life.

High level of stress and pressure to perform well in competitive exams.

Struggles with maintaining focus during long study sessions.

Anxiety about the exam results and future career prospects.

Struggles to find time for self-care amidst a demanding work schedule

Feels overwhelmed with multiple responsibilities and commitments

Desires tools to manage stress and improve overall well-being

Issues they faced before Level

Didn’t know what to do, or how, when and where to start.

They found limited outcomes after non-guided meditation sessions.

They struggled with right content and consistency when using guided meditations on Youtube and Spotify.

Tried using free resources but struggled with finding right content and consistency.

No gamified elements in free alternatives.

There were different apps for everything, and they couldn’t afford premium on all.

Limited time for self-care and no proper structure to it.

High-stress levels and increased difficulty in relaxing and unwinding. Tried different resources and solutions (self-exercising, reading etc) but nothing worked optimally.

Features they value the most

Guided mediations for different purposes by experts, Sleep music, daily affirmations.

21 day challenge, streaks, Workout (HIIT/Yoga), Meditation lessons and stories, step tracker.

Different languages, Spiritual content/mantras, and binaural music.

Features they value the least

Step tracker, diary.

Sleep music, leaderboards

HIIT, gratitude, diary

Frequency of usage

3-5 times a week

5-7 times a week

3-5 times a week

Time Spent on App

5-10 minutes on weekdays, 15-20 minutes on weekends.

10 minutes

10-15 minutes

Influencers: Content creators (typically health, wellness, and personal growth), friends,

colleagues and family members, online articles and reviews, colleagues, professional meditation practitioners, podcasts, and blogs.

Blockers: Steep price point, brand awareness, better alternatives, free alternatives, not seeing results (previous neutral or negative experiences with other apps), self-doubt to be able to follow the routines consistently and grab maximum value.

ICP Prioritisation

ICP 1 (Primary)

ICP 2 (Primary)

ICP 3 (Secondary)

Name

Jasmin

Aryan

Vishal

Adoption

High

High

Medium

Frequency

High

Medium

Medium

Ability and Willingness to Pay

Low

High

High

Urgency

Low

Low

Low

TAM

High

High

Medium

Considering the above-mentioned factors, students (ICP 2) and young professionals (ICP 1) would be the primary ICP because of high adoption, decent frequency, and a big market size. The founders, especially Ranveer (BeerBiceps), have greater reach and credibility among these two personas, leading to a greater distribution potential.

The Landspace

AppLevelCalmHeadspaceInsight TimerBalance
Business Model

Freemium and Subscription

Subscription

Freemium and Subscription

Freemium and Subscription

Freemium and Subscription

Subscription

299/Monthy

1249/Semi-annually

1799/Annually

1199/Monthly

3999/Annually

124/Monthly

1499/Annually

4899/Annually

4999/Annually

Trial Period

1 Week

1 Week

2 Weeks

1 Week

1 year

Segment

Meditation, Sleep, Yoga and Mindfulness

Stress relief and sleep.

Mindfulness and meditation

Meditation and mindfulness

Sleep and Meditation

Features

Expert content on sleep (music and stories), yoga, workouts, meditation, step tracker, journal, gratitude, Indian languages, Indian stories, and guided series.

Guided meditation, breathing exercises, nature scenes.

Guided meditation, sleepcasts & music, mindfulness exercises.

Guided meditation, music and talks, sleep sounds, courses and classes.

Sleep stories, guided meditation, soundscapes, mindfulness workouts

Other Factors

Newer app, co-founded and promoted by Ranveer (BeerBiceps). The focus is on becoming an all-in-one app.

Established and huge celebrity following and promotions.

Additional mindfulness courses on managing money, eating, etc.

Largest library of free content.

1 year free trial is unusual in the market, has good will because of it and Elevate Labs.

Market Sizing - Indian Market (Figures in INR)

Overview:

TAM: 465 Cr

SAM: 70 Cr

SOM: 10 Cr

Guesstimates and Calculations:

I used a top-down approach and zeroed down on the target customers based on the aforementioned primary ICPs. I used various available data points to validate/benchmark my estimates.

Total Population of India: 140 Crore

Population in Tier 1 & Tier 2 Cities (18%): 25 Crore (Estimates are in line with the Manual Calculations)

Number of Smart Phone Users (80%): 20 Crore

Population between ages 16-35 (50%): 10 Crores

Number of people that stress/anxiety (77%): 7.7 crores (Source)

People with an interest in meditation or those will take action for stress (20%): 1.55 Crore


The per month subscription of Level Supermind is Rs. 300, which is in line with the the industry average. Considering a monthly ARPU of Rs. 300;


TAM: 1.55 crore users x 300 rupees = 465 crore.


We can assume that 15% of the above users would be willing to pay for the app. This is also an average % of paid users across the meditation apps.

SAM: 0.2325 crore users x 300 rupees = 70 crore


Level Supermind last year managed to capture around 5% of the market purely based on revenue. Since it has now reached a scaling stage, we can target capturing 15% of the market.

SOM: 0.0348 crore users x 300 rupees = 10 croreScreenshot 2024-04-09 at 1.22.47 PM.png

When annualised, the above seems to be fair estimates with some data points in line with the report by Statista

The Pitch

Level up your mind, body and sleep.

The Story Outline: Our user is the hero. He faces hardships in daily life. He's ambitious but anxious and stressed about the uncertain future and all the problems he's currently facing. No one is coming to save him. Enters "Level" a mentor who later becomes his sidekick. The hero levels up with level daily and learns to manage all his problems and stress and make the most out of life. The level is there with him through thick and thin. He then keeps emerging victorious through every quest he makes. He does all the hard work, gets all the credit, and just gives the right approach and content and gamifies everything for him.


Benefits and Features of Level Supermind

  • 609+ guided and non-guided meditations by experts
    • This solves the cold-start problems for users who don't know where and how to start.
    • There are meditations to motivate, destress, relax, practice gratitude and self-love, boost confidence, etc., which were common pain points and goals across the board for various CPs.
    • There are meditations in 7 different Indian languages and in different forms, including spiritual, mantras and zodiac meditations, which help users cultivate a sense of calm.
    • Meditation helps students concentrate, focus better and increase their mental stamina and it helps professionals to stay focused and productive throughout the day.
    • These also help students and professionals to keep their emotional well-being and stress and anxiety in check.
  • Breathwork, Sleep Stories and Calming Music
    •  Mindful breathing exercises and techniques help users to relax, focus, de-stress, and sleep.
    • Soothing meditation music and binaural beats also help in anxiety relief, sleep, confidence, and motivation.
    • Ragas for anger management, memory enhancement, and full-body relaxation
    • Sleep stories and sleep meditations help users relax, calm down, tackle insomnia and fall asleep without looking at screens.
  • Daily Yoga and Home Workouts
    • Stretching, yoga, HIIT, and other workouts help users kickstart their day or get physical activities integrated into their day at any time, helping them improve their physical health.
  • Streaks, Insights and Others
    • Streaks, alongside its leaderboards and hall-of-fame, help users be consistent and motivated.
    • Step trackers and insights help users track track their progress effectively and realise their results.
    • Diary helps in practising gratitude, increasing self-awareness, reflect and grow.


All the benefits and features add up to help ICPs realise their personal goals of improving emotional, physical and mental well-being and grow personally and professionally. The ends are different here, but from the product perspective, the means are the same.

For students, the pitch is more exam and stress-focused.

Don't let the exam pressure weigh you down! Instead, level up and crush it with Level Supermind!

Try out personalised and curated Meditations, Music, and Workouts for Free!

For young professionals the pitch is more towards anxiety, productivity and sleep.

Stress piling up at work? Balance your career and calm with Level Supermind. Reduce anxiety, sleep better and achieve your peak performance with personalised meditations and workouts.

JTBD for Level

Level Supermind, for all ICPs, primarily serves personal goals. The social, financial and functional goals are interlinked with their personal goals. Within personal goals, however, the “use case” or the “Jobs to be done” differs for various ICPs.

For students (ICP 2) - Personal

It’s primarily used to improve focus, concentration and deal with exam related stress and anxiety.

Observations: While the goal was to deal with academic lifestyle, some students also used it for social signalling amongst the peer groups to “look cool”. They often engaged in Instagram centric content loops by sharing in-app content on their stories. They used the step tracker and diary to suite some personal needs as well.

For professionals (ICP 1) - Personal

It’s primarily used to improve productivity, sleep better and explore mindfulness and spirituality.

Observations: A lot of these members didn’t necessarily know or realise that they needed content to sleep well. Their primary reason for signing up was to use the library of guided meditation and yoga/workout sessions by experts. The “sleep” based content on the app became an acquired need for these users. Similarly, a lot of “Ancient Wisdom and Stories” too became an acquired taste after coming on the app. While most users appreciate features being added, the new ones find the experience cluttered and not personalised enough.


Acquisition Channels

Overview

  • Founder's Brand - Ranveer (Beer Biceps) and Harshil.
  • Organic - Content Marketing (Instagram, Youtube, Blogs, Podcasts), ASO
  • Referral Mechanism
  • Partnerships - Corporates, Businesses, Educational Institutes
  • Influencer Marketing
  • Personal Gifting
  • Workshops and Events
  • Ads - Google and Facebook
  • PR - News articles, App Features & Award


Screenshot 2024-04-08 at 11.38.11 PM.pngChannel Prioritisation:

Level Supermind has very recently entered into the early scaling stage. Till now founder's brand, influencer marketing and ads have gotten more than 75% of the users. Partnerships with educational institutes and corporates have been an ongoing activity with a medium level of success. Partnerships, when successful, bring in users in masses alongside the revenue that comes with it. To ensure sustainable growth in the long term, Level Supermind needs to focus on building the base for organic growth, experimenting more with ads and influencer marketing to reduce CAC and solidifying/scaling the founder's brand.

For now, based on the litmus test from the above table covering the cost, flexibility, effort, speed and scale, and the current context of the product, organic (ASO+Content Marketing), Ads and the founder's brand need to be prioritised.

Organic

ASO

ASO will help Level create a vast and organic funnel of users from various app stores. The high scalability, low cost and medium to low effort make it an attractive experiment option. There is a massive whitespace in the ASO for Level Supermind. Currently, the brand searches drive the maximum traffic on the ASO and the rankings are top in this case. However, the rankings on use case search and competitor search are extremely poor so as not to rank at all. This is primarily due to Level's positioning of being an "everything" app. So, the first part of the experiment would be to include the use case and competitor keywords and improve its ranking on app stores and later on in the Google search rankings as well.

Here are some low-competition keywords from Google's Keyword planner to serve as a reference for what people are searching.

Screenshot 2024-03-30 at 5.38.36 PM.png

Since most apps in the category have generic and use case-related names, these can potentially be embedded as keywords.

Screenshot 2024-03-30 at 5.47.48 PM.png

Here's a sample About Section with the above keywords integrated: https://docs.google.com/document/d/1Y1gQ-wsrBSoj9xGCk3TDCH-8jtTO7vXjEmD-dXqrYFw/edit?usp=sharing

image.pngimage.pngimage.png

The images aren't optimised for mobile viewing, the text is small and illegible, and the design is cluttered. The product's core proposition isn't conveyed effectively. Here's an example from a competitor:

image.pngimage.pngimage.png


Content Marketing and Loops

1.

SEO: Similar to ASO, the SEO for Level is poor. It doesn't appear on any category-based or use case based keywords on Google. For instance, when searching for "meditation apps", Level neither appears in the suggestions (enhanced search results) by Google nor the SERPs. This leads to a low discoverability for new users. To boost the SEO, apart from fixing the sitemap, schemas, title, snippets, meta descriptions and site links, a lot of blogs and articles can be curated for the ICPs with high volume-low competition mid and long tail keywords similar to those encapsulated in the ASO section above.


Example for students

10 Stress-Busting Meditations for Students to Stay Calm During Exams

How to Stay Focused Without Burning Out: Tips for Students

How We Improved Study Habits and Grades in 2 Weeks: A Student's Journey

Why You're Struggling to Focus: Solutions for Stressed-Out Students

How YOU Can Crush Exam Anxiety with Mindfulness Techniques

Example for young professionals

Explained: The Benefits of Meditation for Professionals in High-Pressure Jobs

How to Stay Calm and Focused at Work Without Burning Out: Tips for Professionals

7 Mindfulness Techniques to Beat Workplace Stress


High-quality content created and curated by experts alongside guest blogging will improve backlinks and visibility on SERP.


2.

Social Media: Social media platforms such as Instagram, Reddit, Quora, Youtube, LinkedIn and Twitter can help in user acquisition and community building and eventually lead to a large inflow of UGC. Creating engaging, mindful, helpful and fun content on these platforms and further amplifying it via the founders' personal profiles will lead to organic growth over 6 months to 1 year. Instagram and YouTube are already established channels, however, the presence on other platforms is significantly low. Actively answering questions on Quora will not only help with discoverability and credibility but also improve the presence on SERP.


Reddit has active communities of students preparing for competitive exams (CAT, UPSC, GMAT, etc) and LinkedIn has an active user base of young professionals. Creating communities and value-added content and comments would kickstart content cycle leading to more awareness, conversations and cold-starting UGC.


3.

In-App Content Loop

Above mentioned SEO articles and social media content already kickstarts various content loops where users are creating or distributing content via their personal pages on various platforms. On the app too, after every successful meditation/workout session, a mindful quote is displayed which is shareable primarily on Instagram stories and other platforms.

imageIMG_3738.PNG

There's a really good referral loop in place too. The above content loops alongside several others in various modules are already established however it could be further expanded at various touch points on the app.

  1. Streaks and Personal Milestones: Completing X days of streaks or personal milestones such as completing 100 meditation session can have sharable creative similar to the ones above. Similarly, at the year end, Level Supermind can create it's own version of "Spotify Wrapped" and make it a cool annual content loop as well.
  2. Gratitude: In the gratitude module where you reflect on various moments of gratitude and verbalise it via text or speech on the app, the moments where gratitude it expressed/contemplated/reflected towards a person, well-designed note, letter or a creative can be generated by the app that the user can distribute via Whatsapp or DMs on other platform to the other person.

Paid Ads

LTV: AOV x Frequency x Retention


= 1800 x 1 X 1.28 years

= Rs. 2304

CAC: Rs. 700 (Consolidated)


LTV/CAC: 3.43:1

ICP: Young Professionals

ICP 1 (Primary)

Profile Name

Jasmin

Age

25-35

Gender

Any

Location

Tier 1 & Tier 2 Cities

Occupation

Employee/Professional/Entrepreneur at fast-paced startups, marketing agencies, corporates, and e-commerce platforms.

Where do they spend their time digitally?

Youtube, LinkedIn, Instagram, OTT Platforms, (Netflix and Prime), Twitter, Casual gaming.

What do they spend their money on?

Rent/Utilities/Groceries, food (dining out/ordering home), clothes, electronics, personal care.

Behaviours

Relies heavily on technology for work and personal interests.

Tries to incorporate short meditation sessions into the daily routine but often struggles with it.

Tries to maintain a healthy lifestyle with regular exercises and mindful eating.

Prefers tracking progress but can’t sustain it by tracking it actively or manually.

Interests

Listens to podcasts during commute.

Reads self-help and related books.

Follows wellness and mindfulness influencers on social media.

Goals

Enhance focus and productivity at work.

Improve physical health and quality of sleep for better cognitive function and energy levels.

Cultivate a sense of calm and engage in mindfulness, spiritual exploration and more.

The umbrella goal is to grow personally and professionally.

Pain points

Struggles with stress and anxiety due to work deadlines and family responsibilities.

Difficulty falling asleep at night because of a busy mind or difficulty disconnecting from digital screens.

Craves focus and peace amidst the chaos of daily life.

Issues they faced before Level

Didn’t know what to do, or how, when and where to start.

They found limited outcomes after non-guided meditation sessions.

They struggled with right content and consistency when using guided meditations on Youtube and Spotify.

Features they value the most

Guided mediations for different purposes by experts, Sleep music, daily affirmations.

Features they value the least

Step tracker, diary.

Frequency of usage

3-5 times a week

Time Spent on App

5-10 minutes on weekdays, 15-20 minutes on weekends.

Platforms:

Youtube:

Objective: App Promotion, CPI

  • Age: 25-35
  • Gender: Any
  • Location: Tier 1 & Tier 2 Cities in India
  • Interests:
    • Self-improvement (podcasts, books, social media influencers)
    • Health and wellness (meditation, exercise, mindful eating)
    • Productivity (time management, focus)
    • Stress management (anxiety relief, relaxation techniques)
    • Mindfulness and spirituality
  • Keywords:
    • Meditation apps
    • Stress management apps
    • Sleep improvement apps
    • Productivity apps
    • Mindfulness apps
    • Self-improvement tips
    • Work-life balance tips
    • Anxiety relief techniques
    • Focus and concentration exercises
    • Guided meditations
    • Productivity hacks
  • Channels:
    • Personal development, yoga, health and wellness channels
    • Business and case studies channels
    • Relevant creator and coaches channels
  • Formats: Banner, Bumper, Skippable, Non-Skippable

LinkedIn:

Objectives: App Downloads

  • Age: 25-35
  • Gender: Any
  • Location: Tier 1 & Tier 2 cities
  • Job Titles: Business Analyst, Marketing Manager, Software Engineer, Founder, Account Managers, HRs
  • Industries: Startups, Marketing Agencies, Corporates, E-Commerce Platforms, Internet Services
  • Companies: Fast-spaced startups, financial services, marketing agencies
  • Interests:
    • Self Improvement
    • Health & Wellness
    • Stress Management
    • Burnout
    • Productivity
  • Formats: Single Image and Carousel Ads, LinkedIn DMs, Video Ads/Sponsored Content


Instagram/Meta

Objective: App Promotion, CPI

  • Age: 25-35
  • Gender: Any
  • Location: Tier 1 & Tier 2 Cities in India
  • Lookalike audiences
  • Advantage+ Campaign or interests similar to those on YT and their keywords.
  • Format: Story, Reel, Post

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