Acquisition project | Now&Me

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Acquisition project | Now&Me

Introduction

About the Product

Now&Me is a mental health platform which not only facilitates chat based therapy to 1000+ therapist on the platform but also has a community angle to it where users can write anonymously. Community either can engage in itself or talk to mental health experts through video, audio and text chat. Now&Me is a Pre-Series A funded startup and has acquired 100k+ users in span of last one and a half year. The platform is mostly used by young folks. There are 60% female on the platform.

Defining ICPS

	ICP 1	ICP 2	ICP 3	ICP 4	ICP 5	ICP 6
Who are they?	College Student with Relationship Stress	Working Professional with Career Stress	Widowed with family stress	Working professional with weight loss stress	Semi Professional Football Player with loneliness	Separated with Job Stress
Age	20	26	27	22	24	30
Gender	Female	Female	Male	Female	Male	Female
Location	Bengaluru	Delhi	Pune	Delhi	Delhi	Mumbai
Income	20K Internship	24-30 Lakhs/Anum	30-36 Lakhs/Anum	6-12 Lakhs/Anum	>6 Lakhs/Anum	18-24 Lakhs/Anum
Relationship Status	Single	In a relationship	Widowed	Single	Single	Separated/Divorced
Apps they use?	Calm, Groww, HealthifyMe	Slack, Groww, Medicine Reminder app	Zerodha, Water Reminders Pill Reminder, Pedometer	FITTR, HealthifyMe, Games, Hunch	Groww, Water Tracker	HealthifyMe, Cult
Have Job?	No	Yes	Yes	Yes	Yes,	Yes
Occupation	Student	CA	Data Scientist	Marketing Associate	Football Player	Business Owner - Boutique
Sector?	NA	Independent	Private Sector	Private Sector	Private	Private
Moved to new location?	No	Yes	Yes, Singapore	Yes	No, but keep doing it once a while	No
What free time looks like?	Workout/Video Games	Netflix, road trips	Movies, Eating Out	Traveling	Play Badminton, Watch Football	Walk/Running, Dance
Any Specific reads/Music?	Tame Impala	-	Queen	Rock, Metal	Coldplay, Indian-Rap	All Music/ Shoe Dog
Do they use the product for their better mental being or they are stressed?	Both but mostly for stress management	Better mental well being	Stress	Stress	Mental Well Being	Stressed
No. of times they face this problem (in a week)/ or want to use apps	3-4 Times	1-2 times	3-4 Times	4-5 Times	2-3 Times	3-4 Times
Stress Reason?	Relationship, lower grades	Career and job	New Location, family	Weight Loss, Lonliness, Job Stress	Loneliness, Gameplay Improvement	Family, Work, Loneliness
Social Media	Instagram, Snapchat	Twitter	Instagram, Facebook	Fittr, HealthifyMe, Instagram, Hunch, Snapchat	Instagram	Twitter, Instagram, Snapchat Facebook
What makes you use our product more? (Influencer)	Good UI	Anonymity	-	Chat Based Therapy	Faster Match	Anonymity
What can we improve? (Blocker)	More therapist	Internal Call for masking phone number	More Experienced Therapist	-	-	Video Call Therapy
Is product Need or Want?	Need	Want	Need	Need	Want	Need

ICP Prioritization framework

Note: The status has been divided into five stages only. Very High, High, Medium and Low and very low

	ICP 1	ICP 2	ICP 3	ICP 4	ICP 5	ICP 6
Adoption Curve	Very High	Medium	Low	High	High	High
Frequency	High	Very Low	High	Very High	Low	High
Appetite to Pay	Low	Very High	Very High	Medium	Low	Very High
Total Population of this segment	Very High	High	Very Low	High	Low	Medium
Distribution (CAC)	Low	Low	Very High	Low	High	High

Reason for Prioritizing ICP 1 and ICP 4

ICP 1: College Students

Based on the above model, Adoption curve and TAM is really high along with frequency being high and CAC being low
While there is less appetite to pay but low CAC and high TAM makes it easier and cheaper to acquire more customer and since our product is in a early scaling stage we shall aim for these students to form a habit by providing them some student discount coupons
High Frequency would make it easier to form a habit
These students when reached a AHA moment can also become referrer

ICP 4: Fresher Professional

Very high frequency with medium appetite to pay and high adoption curve makes it a standout ICP.
High TAM and low CAC makes it easier and cheaper to acquire, hence better revenue

How can Now&Me solve for ICP 2 & 6

ICP 2

While ICP 2 have less frequency of use case , the appetite to pay, TAM and CAC is favorable
ICP 2 where frequency is lower can be re calibrated by pushing engaging relatable content

ICP 6

While adoption curve and frequency are high, TAM is limited making a limited reach and higher CAC whereas the paying capacity is higher making them eligible for selling a more high value product through the platform hence more revenue

JTBD Framework

Job	Goal
Functional	To have better mental health and better well being
Personal	To feel more confident and be more focus and calm to be able to think better
Financial	Use an online platform as offline therapy is expensive hence saving money

Market Opportunity

TAM & SOM

Condition	Calculation
Total Population in Tier I Cities	124.382 Million
Total Population in Tier II Cities	49.201 Million
Total Population in Tier I & II Cities	173.58 Million
% of people between ages 15 and 29	27.3%
No. of people between ages 15 and 29	47.4 Million
% of people who goes through stress atleast once in their lifetime	77%
No. of people who goes through stress atleast once in their lifetime (15- 29 Age) in Tier I & II	36.5 Million
Money Spent on Mental Health (Average on Now&Me Platform)	1200/Month
TAM	4378 Crores/Month
% of people who goes to offline therapy	20% (Remaining 80% don't have option)
% of people in tier I & II cities between ages 15 & 29 who can't afford offline therapy	29.2 Million
% of people who earns more than 5 Lakhs INR Annually	10%
No. of people who earns more than 5 lakhs annually, are from tier I and II between ages 15 and 29 and can't afford offline therapy	2.92 Million
Money Spent on Mental Health (Average on Now&Me Platform)	1200/Month
SOM	350 Crores/Month

Core Pitch

For GenZ and Millennials who faces stress, anxiety or loneliness Now&Me is their metal health expert and companion which makes them feel better and confident.

Since our ICP 2 & 4 is college going students and freshers respectively who have high frequency and high use case they become our initial target market.

Acquisition Channel

Given the product is in early scaling there is enough room for experimentation, I have chosen the following three acquisition channel

Referral Program

How would a referral flow looks like for an existing user?

How would referral looks like for a new user?

What users brag about Now&Me?

Easily available experts
Experts at better prices
Anonymous community feature
Connecting on community with like minded

Platform Currency

Using combination of two motivations as platform currency

Money: NM Coins
These coins can be used to take expert chats only and only on the platform and is non redeemable to cash
Access: All exclusive AI bots and features
We are designing a bot which will answer all your mental health queries in a less than 30 seconds, while all users have access to it for 20 message, referrer can be given unlimited access

Happy Flows

After a user has rated their expert a 4 or a 5 star, this confirms on him being loving the product

Once a user has posted on the community and getting 10+ comments moreover community people helping them on their problem is another flow of happy moment.

Here first a rating option as NPS could be given to user, on receiving a good rating the user then can be taken to referral screen

Referral Discovery & Incentivized Referral Plan

In-App Feature

The user will be taken to this screen once they have rated a 4 or a 5 star rating

Tracking referrals

Writing a creative copy without mentioning the product but the use case

Onboarding Experience for referee

First the user downloads the app, then click on signup with a name selection then is taken forward to referral page

Content Loops - User Generated Company Distributed

Hook

Specific mental health related questions being asked by the community and answered by the community itself

Generator

Users who are facing some distress

Distributor

Company and Google-SEO

Step 1: Once a lot of users start sharing their stress and problems on the platform the company will list down the most common issues addressed

Step 2: Company with its internal team will write targeted blogs and articles

Step 3: Using Google SEO and communities the articles or blogs will be spread across along with a link to Now&Me app where they can read the whole content and at the end following CTA will be added

"Join today and engage in our safe safe"

An existing user can reach to creating content section by two flows

Users casually going through their home feed, reads the post then engage with it and then find the text mentioned above. The user themselves is going through some stress and would like to post it anonymously.

Secondly user likes the category of the content and click on it

They will be redirected to another page which will look like this

A user can also write their thoughts or choose any other category to right in. Also in the next screen the user has full autonomy to change tags/categories

Product Integration

Product	ICP 1	ICP 4
HealthifyMe	Important	Important
Groww	Not Important	-
FITTR	-	Important
Calm	Important	-
Hunch	-	Not Important

Product Integration with HealthifyMe

There is a lot upside partnering with HealthifyMe as apart from a large user base they have acquire Now&Me 40% stress relates around physical health. Approx. 66% of customer base who uses Now&Me also have interacted with HealthifyMe atleast once in their lifetime.

Product integration will be discover by user from the more section as a banner and the weight section