VT [Video Telematics] Acquisition Project

📄

VT [Video Telematics] Acquisition Project

Increasing Safety and Mitigating Risks

The Product:- B2B

Loconav was founded back in 2016 where one of the niche products is Video Telematics

Product name - Loconav Dash Buddy

Launch – September 2021

Product Details: -

· Product Stage – Mature

· Product details:- https://www.linkedin.com/products/loconav.com-video-safety-solutions/

USP - Loconav Dash Buddy’s USP lies in its advanced video telematics system, offering real-time insights into vehicle and driver behavior. This includes features like live streaming, AI-based analytics, and driver safety alerts, ensuring comprehensive fleet management and enhanced safety.

· Detect - Incidents as they happen.

· Protect - Cargo, vehicles, and Drivers.

· Prevent - Liability Risk

Product insights: - The product insights for Loconav Dash buddy

As a user who will use the product for the 1^st time either through a POC or who has purchased the product. Before the customer is onboarded a complete walkthrough of the product is to be provided either over a

1. Video Call – Record session

2. Share user guides and FAQs.

3. Post onboarding check in with the Client on how he feels about the product.

4. Any questions that can be answered or would they require another session?

The more the Client uses the product the more benefits they see, resulting in ROI

Here are a few metrics that I added when any client has been onboarded, based on this you will be able to gauge the client’s journey.

· User Engagement Metrics: This helps in understanding time spent to monitor using real-time tracking, how frequently they access reports and download, and what type of reports are they looking for – you can either build it for them which can be helpful across other clients [Industry Specific]

· Feature Usage Patterns: Speak with the partner to understand the most popular features and if required create a feature gate, not all clients will require all features [ few can be sold maybe for a premium] – features like geofencing, driver behavior analysis, and optimization.

· Customer Feedback: Most important – Make or break - this insight is required to gather input on how they feel about the product, the navigation, and any new features that need to be added which either can be industry demands or user demand

Play store:-

AppStore: -

App Egg - No Reviews

Reviews

Twitter - No Reviews

Found reviews, but they were for the GPS tracking devices.

Quora:- No Reviews

Linkedin:- No Reviews

https://www.linkedin.com/products/loconav.com-video-safety-solutions/

Reditt – No reviews for Loconav Dashbuddy

Callout – Unable to find reviews as the reviews that you come across are all for the GPS devices and not for video telematics.

The scope here - is ,to reach out to all clients and request them to review the Dashbuddy application & for every review, a Loco point can be given and the same can be redeemed on their purchase of the next device [ not limited to Video Telematics]

The User: - ICP

Q - As the product is Loconav Dashbuddy who could/will be the ideal customer?

Ideal Customer: -

1. Logistics

2. Transportation

3. Education Institution

4. Corporates

o B2B

o B2C

o B2B2C

Why? - The reason all of the above mentioned is looking at solving a common problem [Safety]. Can include Students Safety, Driver Safety, Employee Safety, Insurance Claims, Monitoring vehicle performance, Driver behavior, improve fleet management efficiency.

The Market:-

o Use cases & Youtube case videos

o Forward collision alert - https://www.youtube.com/watch?v=4SI-mCp2S6A

o Family being Harassed Safety - https://www.youtube.com/watch?v=t5djux1zZgc

o https://www.scribd.com/document/595222879/LocoNav-Intro-With-Use-Cases

o https://indiaai.gov.in/article/loconav-uses-ai-to-outdo-challenges-for-the-fleet-management-industry

are

o Search Volumes

Volume

6.6K

Global Volume

The total number of searches for the analyzed keyword in all databases.

Total -- 7.0K

IN -6.6K

US - 90

UK -30

AU- 20

BE- 20

BR -20

Other – 210

Domain Overview

Traffic Overview

Calculate the TAM, SAM & SOM

Total Addressable Market (TAM):

Backstory: India has the largest transportation and fleet management network. The market cut across diverse industries, which generates a large number of use cases, and which can be industry-specific. Now with products like Loconav Dash Buddy can cater to all logistics requirements, industry challenges, and use cases.

Note: - I am not looking at the Consumer market as there are use cases and challenges that need to be addressed and which we have been reading across the news recently.

o Use Cases: what are the crucial use cases that we can target

o How do I look at my market/geography distribution: We consider this as a nationwide demand

o Where and how can our serviceability be: Targeting the entire market.

https://www.mordorintelligence.com/industry-reports/india-fleet-management-software-market

India's Fleet Size: Approx. 5 million vehicles

Market Penetration Estimate: Example Targeting 20% of the market.

Serviceable Addressable Market (SAM):

Backstory: Loconav to focus on major logistics hubs like the All-India Transportation Corporation which captures 80% of the transport market, and focus on Fleets like Uber & OLA and B2B, also industrial centers, Oil & Gas can be a primary target. That can help us in the use case

Serviceable Addressable Market (SAM):

Logistics Hubs: Target and cover 10 major cities this can be a mix & match of Tiers

Industry and industrial Centres: Once we have narrowed down on the cities and the tier they create the focus on areas with a good sizeable market 5 Million Vehicles take 10% to be the addressable market and this should be the road map

Serviceable Obtainable Market (SOM): /

Backstory: Now that we are aware of what the product can deliver and its potential, we will need to concentrate our efforts on the key cities, and this should be with a strategic approach – build the foundation and then spread wings [Don’t spread wings and try to build foundation] Lesson Learnt

Initial Cities: Once we have identified the Tiers and the cities, choose the top 3-5 Cities and launch simultaneously.

What % should be the Market capture: we need to at least aim at 2% of the market and then scale.

Channel Selection & Experiments

What stage is my Product – The product is at its Mature stage?

What were the channels utilized?

1. Facebook ads

2. Instagram

3. LinkedIn

4. Google ads

5. Paid Campaigns

6. News ads [International]

7. Events

8. Referrals

As an organization we started to use all the mentioned channels while the user quality was good, the volume was not scabble. Hence, we reduced the budget for the channels and focused on 2 parts.

1. Events – attend all global events about Tech enablement or conferences, this way we would be able to tap into the corporate clientele where the quality of users will be on par and the volume will be increased.

2. Referral – we ran a standard referral program, where user quality and volume would be on the same as mentioned in events, hence introduced.

a. Advisor referral – we got industry experts to be part of the organization and join us where for every deal closed based on the ticket size we would offer them a certain percentage.

b. Tier Referral by referring and the tier that you are in you can get discounts and redeem them against your next purchase [Like reward points which can be redeemed against your subscription or if you reach a certain amount, you can choose free delivery as shipment cost was high].

i. Platinum

ii. Gold

iii. Silver

3. Partnership Tieups – from the events and meets that we had we would tie up a partner that could help us sell our product. For example, OEMs Hardware OEM would sell the Hardware to Clients and when they ask which would be the best software, they would recommend Loconav] For that we would join a premium Client with them

By implementing this we were able to get better users’ quality, which increased in the use case generation and automatically increased the volume. We were able to run these for less than the cost that we were already paying.

Content Loops

	Content Creator	Content Distributor	Distribution Channel
Scenario 1	Fleet users,drivers,managers create the content by help us record events	Loconav	Social Media Platfom,Loconav - via platform, news letter, in app
Scenario 2	Loconav creates the content pertaining on what is required	Loconav	Social Media Platfom,Loconav - via platform, news letter, in app

Questions:-

What kind of content can you produce that users will share?

A. Content that needs to be created will be based on use cases or it will be what is industry specific - for example how effective is the cabin camera for alerts if a driver is distracted while driving

Will users create content for me - If yes how will they distribute it?

A. Yes - users will create a video for us this will help other users [drivers]. When they are onboarded for training and quality purposes the same can be internally consumed and shared with Loconav so that we can distribute it to the required channels.

How can you get users to create and share content?

A. Users can create the video and we can provide access to our social media handle where they can post these videos - to ensure that we are posting the right and quality videos a SPOC will be introduced across each client location and they will do the needful

What would we want to be:- would choose the content to create and the content distributor - the reason for choosing this is we are the masters who know what we want to create and by creating this what can be the impact? bit for distribution I would leave it to the experts where they know the impact on which channel they can post it for better impact.

Paid Ads

ICP chosen here is an example as the product is on Dash Buddy's "Logistics and Transportation Companies with Fleets."

The Marketing Pitch:

"Empower your fleet with Loconav Dash Buddy – the ultimate video telematics solution. Enhance driver safety, monitor vehicle performance, and streamline fleet management.

Join us as we are one of the leading logistics companies leveraging on our cutting-edge technology for unparalleled efficiency."

Biggest TAM:

We not only cover Tier cities but a good hole of non-tier cities and major logistics hubs like Mumbai, Delhi, and Bangalore we cover a wide range

Audience Selection:

Transportation and logistics decision-makers, fleet managers, and safety officers.

Creative Strategy:

We need to choose and highlight real-world success stories, emphasizing on

to improve safety,

o operational efficiency

o cost savings.

How? – we use engaging visuals showcasing the product in action – live videos, how easy is the product we can install

What’s the Campaign Structure:

o Create user awareness:

o Introduce the benefits of Dash Buddy.

o Consideration:

o Showcase case studies and feature highlights that are close to their industry [industry specific]

o Conversion:

o Put down an offer they can resist – POC for 15 days free validate all features and functionality.

o What’s the Budget:

o Choose the channels that will be highly impacting and based on that we need to allocate budgets.

other

Product Integration:-

Channel name	Time to go live	Tech effort	#New users we can get (monthly)?	New users in month 1	New users in month 2	New users in month 3	New users in month X
GPS Mapping Services	1 week	1 day	100	100	150	200	500
Communication Tools - Slack,Ms 365	1 Month	1 Week	100	100	150	200	500
Fuel Monitoring Systems	3 Weeks - 1 Month	3 Days	5	5	7	12	50
Fast Tag - Recharge	1 Month	2 Weeks	100	100	150	200	500
Telecom Integrtaion - SMS - Notifications	1 week	1 day	100	100	150	200	500

GPS Mapping - As VT device only provides a view of the cabin and road the Map integration can help them navigate

Comm Tools - Slack and MS Office - this will help large organizations get notifications [email, slack, teams] on alerts, which can be acted upon at the earliest

Fuel Monitoring system - A lot of transportation organizations face issues where they have fuel being stolen, this will help with a birds-eye view

Fast-Tag - as most of the users will be fleet operators through the dashboard they can recharge for Fas tag - can view Consumption

SMS integration - this is more for alerts - on the other hand, helps devices

More integrations can be like - SAP, Oracle, etc