The most intelligent Personal Assistant for parents. Excellent in managing boring and tedious tasks.
Business overview
| Location | Petts Wood, United Kingdom |
|---|---|
| Social media | |
| Website | www.nurturey.com |
| Sectors | Data & Analytics Digital B2C |
| Company number | 08998552 |
| Incorporation date | 15 Apr 2014 |
Idea
Introduction
Problem:
The curse of too many resources: Today parents are constantly juggling with resources and stressed with overwhelming flow of information; and hence, parents are perpetually anxious about missing the right thing.
Proposition:
Imagine if parents could hire a Personal Assistant that organises the boring bits, analyses the overwhelming information and narrows down to relevant actions and information?
Nurturey is the intelligent PA in the pocket that will constantly assist parents in their journey from pregnancy to early years of parenting.
Mission:
To bring millions of hours worth of parenting experience and expertise to parents' fingertips.
Vision:
Globally, Nurturey will be the 'go-to' platform for parents, as signing up on Nurturey would be one of the first steps parents will take when they conceive.
Intended impact
Digital innovations are moving from ‘search’ (reactive) to ‘assist' (proactive) based solutions – and technologies such as Artificial Intelligence and Big Data are fuelling this change.
Nurturey is embracing such cutting edge technologies to bring the benefits of this shift to the Parents.
The intelligent personal assistant creates impact through her four key skills:
a) Knowledgeable:
- Employs proprietary algorithms to analyse tons of information to narrow down to the most relevant actions and information for parents.
- Keeps parents up to date with the trends, benchmarks etc.
b) Self driven:
- Automatically organises and syncs information such as data, calendar and tasks.
- Proactively plans and manage activities.
c) Alert:
- Informs and guides when something becomes relevant or due.
d) Caring:
- Has creative tools to build meaningful and comprehensive memories.
Substantial accomplishments to date
With little funds, we have delivered significant amount of progress and output.
1) Product:
a) Launched iPhone app in Mar'16.
b) Launched Android app in Sep '16.
c) Launched Desktop webapp last year.
2) Branding:
a) We have a buzzing FB page with a fan base of over 90,000 parents globally.
b) Every week: we reach over 1million parents and over 100K parents engage with us on social media.
b) We run an engaging blog page (blog.nurturey.com). We have had more than 1 million visits from 100K unique users.
c) Received plenty of print and TV media coverage.
3) User traction:
a) Our total user base is in 5 figures.
b) Low cost per download.
c) Sign ups/ downloads from all our key markets, i.e. India, UK and US. Overall, sign ups from 60+ countries.
Monetisation strategy
We have started implementing a combination of the following revenue models (through which we aim to make revenues of £15/YEAR per family):
A) Subscription/Freemium based:
- Current set of features are free. However, we are looking to more than double the number of features and some will be in the priced category.
- We aim for 5 -10% premium subscriptions.
B) Affiliate marketing:
We have implemented and increased the number of algorithms that connect parents to resources that generate Affiliate marketing revenues for us.
C) Transaction cut:
- Our algorithms would connect parents to the most relevant free/paid resources (sold by us or by 3rd party).
- We will aim to make commission revenues of approx. 20-30% on paid transactions.
- e.g., purchase of psychologist consultations or e-learning products.
We are NOT aiming to implement advertisements based business models.
Use of proceeds
"Consumer the King and Product the Queen”.
Objective:
- Drive user base expansion and engagement.
- Implement and experiment with revenue models.
Broadly, funds will be spent as below:
1) 29% - User acquisition.
2) 12% - Branding.
3) 40% - Product enhancement.
4) 3% - Server support.
5) 10% - Key person salaries.
6) 6% - General overheads.
Market
Target market
1) Customer segment:
a) Parents who are in pregnancy stage.
b) Parents with kids in the age range of 0-8.
2) Geographical segment:
a) We are positioning Nurturey as a global platform, especially where English language works.
b) Our initial brand building efforts are in the UK, US and India market.
c) India is a key market for us, as due to its large youth (parents and soon to be parents). If we don’t build early traction, a copycat competitor will.
d) Currently, we are getting users from 60+ countries.
3) Segment size (our estimates):
a) UK: approx. 4-5 million families in our target range.
b) India (top-25 Indian cities): There may be as many as 10-12 million middle class families in target range.
c) US: Approx 25 million in target range.
Just the first three markets itself represent a segment size of over 40 million families in the target range.
Characteristics of target market
1) We estimate market size is approx. £25 billion for UK, US and India only, and growing rapidly.
- This is not a generic market size. It's our estimate of actual total revenue opportunities relevant to our monetisation strategy.
2) Market definition:
a) While Nurturey is meant for regular use of parents, one of the primary monetisation strategy is based on Nurturey acting as agent to enable sales of 3rd party products/services to parents 'on-line'.
b) Hence, market is based on commission earning opportunities, on only non-school spend online by parents.
Marketing strategy
1) Short to medium term strategy.
We are building our user acquisition and brand building strategy around Facebook, for the following reasons:
a) More than 9-10 million daily active users in our target base.
b) A total of 40 million users in our target base.
Our strategy is backed by the results so far.
- Our customer acquisition cost is low.
- Acquisition rate is proportional to our marketing spend. --------
2) Medium to long-term strategy:
With time we intend to also develop the following three key channels:
a) Schools / Parent networks / Clubs:
- Market directly to primary/preparatory schools to whom we will provide our solutions.
b) Online advertisement channels:
- Ads on parenting websites such as Mumsnet and Babycenter, which have many unique users per month each in target age group.
c) Referrals:
- A parent refers Nurturey to another parent or creates a group inviting other parents to join.
Competition strategy
As it is difficult to define scope of features for such products, we can't pin point to a specific competition with direct/ significant overlap of product vision with Nurturey.
However, the following would summarise the fragmented competition:
a) Piecemeal solution providers or tools: Solutions such as kids photo up-load apps, on-line family calendars, milestone trackers etc.
- However, parents find it hard to manage several solutions, and much rather prefer a single platform to manage their lives around kids.
- Moreover, none of these products offer a frictionless experience and comprehensive set of features for parents. Hence, they have low or no traction.
We also have a few 'complementaries' (i.e. helpful businesses/products) in this nascent ecosystem:
a) Content providers/ blogging websites:
- Companies such as Babycenter, Mumsnet or e-learning platforms would be our complementaries.
- Nurturey is not a content provider and aims to often guide users to other content platforms as appropriate.
b) School softwares:
- Some school softwares have extension for parents. However these solutions are aimed at school-parent communication.
- In fact, we plan to partner with some school software solution providers, and Nurturey expects to emerge as the 'parent front-end' for school solutions.
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