What problem are we solving? Social media being an open platform is open to all sorts of content of which includes negative and judgmental content, the consumption of such content builds a certainly shaped negative mindset and thus affects the society as a whole. Today the influence of social media is massive and it must be made sure it is positive.
What is our innovative idea and what makes it distinctive? Tell, our social media platform serves to bring out a positive mindset and thinking to a person and the society or the community filtering through the negativity. The app has three sections, the first being positive and wisdom based content from already verified pages which helps the users see the world through a brighter side, the second section serves to bring together local communities where the community members post the brighter side of their community or city staying within the decided rules by the creators, the third section is where there are various positive initiatives based on hashtags to start a certain initiative for the better of their community and thus the world.
Our Target Audience Narrowing down the target market in such a platform which serves the larger community is not possible, we believe anyone wanting to see the world through an optimistic approach can make the most out our platform. To boost our marketing efforts we shall target each community closely and work with them.
Who is our direct/indirect competition? We do face a huge competition with giants like Facebook and its subsidiaries but we believe even though they offer a similar platform, we offer it in a way more positive and different way. We do not want to directly compete the giants, rather target our communities and go communities wise in terms of scale and offer a different way to be successful in our efforts.
How will you reach your target audience and what shall be our marketing activities? We would wisely attract other social media platforms by advertising our app on their platforms to make an appeal to the users as to why join us and how they can filter past the negativity they are encountering. The other way for marketing is to hold small seminars for different communities in their cities to attract people wanting to spread positivity and in that way bring the community together in a physical way as well. We would even ask our verified users to spread the word for our platform on their other social media platforms to attract their already large audience.
At what price will we be selling the product? How did we arrive at this cost? What will be our margin of profits? The basic way of earning for a platform like us is advertising, promoting the pages on our platform and affiliate marketing. To promote the verified pages, we would charge Rs. 20 for 24 hours, while advertising a community business in the community section which is in a positive favor of the community, we would change Rs 10 for 24 hours. And by joining the Amazon affiliate platform we would earn commission for each time our users buy certain products from the link we share. The prices for promotion and advertising vary based on the scale of audience and community.
When a community leader starts a certain trend/initiative, he/she can contact certain business of their community to be part of the initiative and also advertise in that way, the business would be charged based on the scale of initiative.
How many units will we produce & expect to sale in the first three years? Have we come up with any demand analysis? Being service providers, the production and sales are not quantifiable in nature in our case. We feel our platform can really have a good demand, for users and even small community local sellers to promote themselves on our communities. As of the start, the demand would not be much but with proper marketing techniques we would try and increase our user base.
If we have to start this business, how much fund we will require? Starting the project into the real would take a doing, that is the prototype needs to be converted into a perfect app and thus any developer would at least charged up to $10 per hour and depending on the how much time he would take would determine the estimate cost for the app that is what we expect to be around 200000 after having an rough estimate from one of the developer. Our marketing activities such as starting seminars in local communities would also incur a good enough expenditure. As for the early part of the business, the returns will be low from ads and promotions but as the business and platform gets bigger, the revenue will start to rise slowly covering up the cost.
What is the human resource requirement? First of all we would require an efficient and trustworthy developer to develop the app and taking care of the after services. Then we would need handlers who would properly handle all the reports and data that is being reported by the users as a request of deletion and also people who would handle the advertising and promotion platform requests and properly planning all those things. Other resources required to run the business We would also need to closely work together with verified page owners and community leaders as they will play very important role in our marketing activities and even keeping the platform up to date and connected to users. We would need large enough servers to handle the app data and also computers to manage all the reports and requests.