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Understanding your ICP

B2C Table

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We have multiple users of a product and not all of them can be our ICP for whom we make our strategies, we need to prioritize.
(use this ICP prioritization table)

​Understanding Core Value Proposition

1. Affordable rides
2. Bilateral and direct payment
3. Prompt communication between driver n commuter
4. Availability of non AC and AC cab
5. Minimal platform fee for driver partners
6. Autos to be offered on daily rent basis to drivers with salary n commision based on number of rides
7. Cross utilization of fleet during lean hours to increase driver earnings

(Let's begin by doing a basic competitor analysis)

(Then let's try to understand the market at a macro level and evaluate the trends and tailwinds/headwinds.)

Now it’s time for some math, calculate the size of your market.

TAM = Total no. of potential customers x Average Revenue Per Customer (ARPU)
SAM = TAM x Target Market Segment (percentage of the total market)
SOM = SAM x Market Penetration/Share

TAM :)

ARPU = Rs. 14 for 3W and Rs. 18 for 4W.

Avg Daily rides in Metro = 10 Lakhs

TAM per city = INR 1.4Cr to 1.8Cr per city per day = INR 50 Cr per month per city

TAM = INR 600 Cr per year per metro city.

TAM across 500 cities (Tier1, Tier2, Tier3) = above INR 10,00,00 Cr or 10Lakh Crore per year addressable.
With larger number of Tier3, Tier2 and Tier 2 cities

SAM :)

Target Market Segment (percentage of the total market) = 10% of total market. 100,000 rides in Metro City per day

Potential Rides per day per city
100,000 for Metro. 70000 for Tier 1. 40000 for Tier 2. 20000 for Tier 3
(Ola does 7,00,000 trips daily in Bangalore)

SAM = 10% of 600 Cr per year per metro city = 60 Cr per year per metro city and above 10000 Cr per year across 500 cities

SOM :)

Target Market Segment (percentage of the total market) = 1% of market share. 10,000 rides in Metro City per day

very conservative estimates in year 1

Potential Rides per day per city
10,000 for Metro. 7000 for Tier 1. 4000 for Tier 2. 2000 for Tier 3
(Ola does 7,00,000 trips daily in Bangalore)

SAM = 1% of 600 Cr per year per metro city = 6 Cr per year per metro city and above 1000 Cr per year across 500 cities (correction factor for different category of cities)

Designing Acquisition Channel

Rapido is int he mature scaling stage having made strong inroads in Bangalore and NCR. now targetting the tier1,2,3 cities

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(Understand what is already being done, what is working out well and what needs to be stopped)

Step 1 → Define the CAC: LTV ratio. If your product has a healthy CAC:LTV ratio, proceed with paid ads.

Step 2 → Choose an ICP

Step 3 → Select advertising channels

Step 4 → Write a Marketing Pitch

Step 5 → Customize your message for different customer segments to ensure relevance

Step 6 → Design at least two ad creatives (e.g., images, sketches, videos, text ads) that reflect your marketing pitch.

(Understand, where does organic intent for your product begins?)

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Step 1 → Identify complementary products used by your ICP
Step 2 → Use the selection framework

Step 3 → Collaborate with necessary stakeholders
- BookMyShow, Zomato District ,
- MakeMyTrip, Treebo
- Spotify, Gaana

Step 4 → Map the customer journey

Customers of the above apps get to have discount rides for major events such as concerts, when booking hotel and commute to hotel, music playlist exchanges between friends and offer a ride on select days. Music apps can say what the city is listening to, based on which events commute could be offered at a discount.

Step 5 → Design the wireframe with the new integration

Step 6 → Run pilot tests before launching

Step 7 → Measure post-integration metrics

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For driving adoption post initiallaunch​

Step 1 → Referral for family and friends for first 3 rides. Festive Referrals
Step 2 → Driver Partner Referrals, for new onboarding activations​

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​we hope this helped you break the cold start problem!

Reminder: This is not the only format to follow, feel free to edit it as you wish!