Acquisition project | Gensol Group
(Before you begin, you need to know what your product is, what are its features, what is the problem being solved by your product?)
Understanding Core Value Proposition
The Core Value Prop was understood using the following framework:
Step-1: Explore the product
The major features that the product has are as follows:
- Multiple vehicle categories, to drive conversion and Wallet Share of the customer
- Multiple order types - Point-to-point; Multiple stops
- Serviceable across the city - can select a pickup/drop across the city
- Offer rental packages, if you want to book a vehicle for a longer time frame (2 Hours; 4 Hours etc.)
- Can schedule a vehicle if you need instantaneously
Step-2: Analyze the feedback
The Google playstore ratings is 4.0 with the following split:
Most of the negative reviews are around:
- Bad support team experience: Most of the cases are around poor customer call center team - Response rate is low
- Vehicle availability challenge: Our service levels were not good initially. Most of the issue was right after the launch
Positive reviews are around:
- Pricing
- Vehicle availability becoming better
Looking at the above, the CVP is as follows:
For anyone (large company, SME or individual) who wishes to move goods from one point to another, Wayo is an On-Demand logistics platform that helps you do this in an affordable, reliable and hassle-free way
Factors | Local Naka | Porter |
|---|---|---|
What is the core problem being solved by them? |
|
|
What are the products/features/services being offered? |
|
|
Who are the users? |
|
|
GTM Strategy |
|
|
What channels do they use? |
|
|
What pricing model do they operate on? |
|
|
How have they raised funding? | NA | $ 150 Million till date |
What is your product’s Right to Win? |
|
|
What can you learn from them? |
|
|
Competitor Analysis:
The competitor analysis was done above. The major player in the Intracity space is Porter. Here are some additional points that we try to look at to understand how they are faring:
- Pricing: We are about 7-10% cheaper in all distance buckets as compared to Porter. This is to drive repeat usage and demand
- Current Take Rate: Porter charges a flat commission on every order complete. The current take rate for Porter in about 14-15%, which contributes to it's Gross Margin (GM). We are not taking anything as of now from the driver as we want to build supply and ensure that the earnings of the driver reaches a certain level
- Orders: Porter currently is doing about 3.5 Lakh orders/day from the top-6 cities (contributing to 80% of the total Pan-India trips)
- Revenue: The revenue would be around Rs. 16 Crore/day
Market Sizing:
The logistics market can be divided into the above. Majority of the share is concentrated in the Road Transport (~65%)
Intracity contributes to about 14% of the total road transport market size. Of this, ~60% is contributed by the top 50 cities. For intracity logistics, the population of the city plays a major role, with major consumption happening there. Consumption drives stock movement
Top-20 cities contribute to around $20 Billion, with the top about $14 Billion coming from the top-6 cities. Hence, looking at the above definitions:
Total Addressable Market - Pan India
This would be the total intracity market across India. As per the research, this would be about $34 Billion
Serviceable Addressable Market - Top 6 cities
Given the current scope and profitability also, we will be targeting the top-6 metro cities only. These contribute to about $14 Billion, which is SOM
Serviceable Obtainable Market
Currently, we are operational in just 2 cities i.e. Delhi NCR and Bangalore. Our current revenue from both the cities is about Rs. 1 Cr. That amounts to about less than 0.001% of the market share
Content Loop
Step 1 → Nail down your content creator, content distributor and your channel of distribution
Step 2 → Decide which type of loop you want to build out.
Step 3 → Create a simple flow diagram to represent the content loop.
Step-1: Understand your audience
Through user research interviews, the answers to the following questions is found out:
Where do users spend time - their habits and preferences?
ICP 1 | ICP 2 | |
|---|---|---|
Frequently used apps |
|
|
Online Habits and preferences |
|
|
Step-2: Finding the right type of loop
Customer profile | Hook | Content Creator | Distribution Channel |
|---|---|---|---|
ICP 1 and ICP 2 | Transport your goods safely with trusted drivers from one point to another | The Brand | For the first few cycles: |
ICP 1 and ICP 2 | We have a wide assortment of delivery options: 2W to Pickup/8ft | The Brand | For the first few cycles: |
Why choose Youtube/Facebook as the platform:
- Most of the ICPs spend time on Youtube (as per the table above)
- The content type is video and audio based; that has better chances to grab more eyeballs
- Pin-point targeting: Helps in targeting very accurate user sets, which will help in decreasing our CAC
Step-3: Creating a flow diagram
The flow diagram has the content loop which is leading to the referral loop
Below is the framework I have used to develop the referral programs:
Step 1: Identify customer touchpoints
The AHA moments for the customers are as follows:
- Price discovery for all the vehicle categories
- All the extra coupons that are active on the current order
- Vehicle gets allocated (say within X seconds)
- Driver comes to pick up the order
- Track-ability of the goods (customer is able to see where his goods are in real-time)
- Driver drops off the goods without any escalation
This one marked in red is the where we should build the referral
Step 2: Define the Brag-Worthy Element
Customers, being SMEs, want to book repeat orders. Hence, for us it would be discount on the subsequent trips
Step 3: Define Your Platform Currency
The platform currency here would be discounts/cash-backs. Also, we can build it in the allocation algorithm, like more referrals helps you bring better drivers >> improving customer experience >> repeat orders
Step 4: Determine Who to Ask for a Referral
We would break it into two main buckets:
Bucket 1: Heavy/power users
These would be the group that have completed >=3 orders in a month anytime since their LTV They are using the application the most. hence are our biggest brand ambassadors
Location: This should be right before the new order placement page, as for them it is something they would be keen about
Bucket 2: Anyone placing 5 orders in their lifetime, irrespective of their >=3 orders in a month:
These are customers who have sporadic requirements, but nonetheless they would be able to place an order
Location: For these users, it can right at the end, not to break the product flow
Step 5: Referral/Partner Discovery
Majorly, if we look at our ICP 1. they use Whatsapp heavily for their day to day communication. We can use Whatsapp as a channel. Major other channels are:
- Push Notifications
- In-app features: Banners, pop-ups
- In-app notifications
- Videos on the Youtube Channel - how to refer? Testimonial videos from existing users etc.
For starters, we can do a calling once (not scalable, but one time) to increase the adoption
Sample screens:
Comments:
- There is a big CTA under the pickup/drop which will help to grab the attention of the user
- Also, there is a "Refer and get discounts" tab under the profile section of the user
- Upon clicking on either, a bottom sheet will open, which will ask the user to "Refer Now". The customer can then click and will be redirected to the referral page
6. Referral Sharing & Communication
Most of the communication between the users of similar ICP is on Whatsapp. Hence, we should have Whatsapp channel to share the referral link
Referral message can say something like:
Hi. Mr. X (to build credibility) has referred you for 50% off on your first five trips on Wayo. Find it waiting for you here!
Sample Screens:
Although the user has the option to choose the mode of communication
7. Tracking Referrals
In this section, we have tried to look at the following things:
What will the referral tracking page look like? How will referees know if their referrals were successful?
The above two questions have been tried to be addressed here:
We have three separate tabs here:
- Invited: Contacts who have been invited for the referral
- Installed: Contacts who have installed the app but haven't placed the order yet - We have an option of reminding the installed contacts to place an order. We can remind the customer in the following ways:
Here, we are integrating Whatsapp for this, as this is most preferred channel for the ICP
- Successful: The contacts who have successfully placed a single order
8. Design the Referral Landing Page for Non-users
A non-user first sees the referral message sent via any channel. He clicks the link and is redirected to the play store/app store page. The app store/play store page picks it up from there
9. Ensuring Continuous Referrals
We have tried to do the following rewards for the users who are regularly referring:
- Incremental tired rewards for continuous referring: With a clear visibility of the customers who have referred, we plan to create a streak feature. The streak is as follows:
We ensured the following:
- The rewards are a big enough incentive to continuous refer: the discount construct is defined as such
- Number of free trips are tiered at an increasing number
Brand focused courses
Great brands aren't built on clicks. They're built on trust. Craft narratives that resonate, campaigns that stand out, and brands that last.
All courses
Master every lever of growth — from acquisition to retention, data to events. Pick a course, go deep, and apply it to your business right away.
Explore foundations by GrowthX
Built by Leaders From Amazon, CRED, Zepto, Hindustan Unilever, Flipkart, paytm & more
Crack a new job or a promotion with the Career Centre
Designed for mid-senior & leadership roles across growth, product, marketing, strategy & business
Learning Resources
Browse 500+ case studies, articles & resources the learning resources that you won't find on the internet.
Patience—you’re about to be impressed.