Radio and Audio Innovation
Startup Lab and Innovative Ideas
As far as start up lab is concerned ,we were asked to search and grow an idea related to the radio and audio innovation.Having in mind the instructions given by ,both Ant1 music group and our professor Mrs. Betty Tsakarestou we made up our ideas gradually, following the appropriate steps . The issue asked was to recommend an innovative idea concerning the radio and audio. Then we should organize it through value proposition canvas, where we should describe exactly what our service offers are, what steps our users should follow to use it , the innovations which are indicated and lastly what kind of problems of the market it can solve.
Value Proposition Canvas
Our team answered to the following question “How could radio become cool again?”. So we have come up with an application which will belong to Ant1 radio (Easy 97,2). The radio programs will be broadcasted live through the app and will be saved for 3 days into the application, for those who had not managed to listen to them live . This way the radio station won’t lose its ratings from those ,who didn’t have the chance to listen to their favorite radio program live. This very application will contain numerous programs on various issues such as news, sports, music etc. Our users who are interested will simply download the application and surf on the base of their own preferences. The basic concept ,on which our application is based, is sustainability. We would like our application to remain “cool’’ in the distant future, not just to follow the current stream of fashion and then to be forgotten. For this reason, we thought that there should exist a team ready to create questionnaires concerning the content and the image of the application. According to the results, this team should come up with on going improvements, thus the application will be getting better and better ceaselessly.
The first innovative point of our application is, that plenty programs will be broadcasted by experienced radio producers ,who have always achieved attracting youth audience, in co-operation with new inexperienced but talented producers as well. Thus we will make more young people eager to listen to radio programs. Furthermore, since we wanted to achieve the interaction between radio and TV ,we thought that there should be a radio program commenting on an Ant1 TV program or series ,which marks the higher viewership. Consequently, not only the radio station will be gaining ratings through TV ,but the TV channel will do so, as well. On top of that, this application will be saving the user’s preferences so it will suggest options based on his previously stated preferences.
So, while a user will be listening to a radio program an option will be shown and he will have the chance to be “transferred” to a different program quickly and easily.
Business Model Canvas
Meanwhile, we grew and organized our concept through Business Model Canvas.In the value proposition category as we have already mentioned, there will be a variety of radio programs and music, the ability to re-listen a radio program, easy and pleasant use, continuous changes, upgraded content, and on top of that the audience will be able to express a view of what they want to listen and watch in the future.
The customer segments include the young people since they are the audience we wish to reattract so that they will start listening to radio programs willingly. The majority of older people definitely listen to the radio programs otherwise.
Our services are available to our customers through the application both from smartphones and a tablets. Meanwhile, we kept thinking how we shall build a solid relationship with our customers.Firstly, in order to get customers ,we shall create TV ads referring to the application, also we shall promote the app via famous you tubers’ videos. Secondly, in order to keep the customers we have already got, we shall establish lotteries with prizes, instagram giveaways and continuous improvements through research and marking of the audience. Lastly, so as to grow our customers’ scale we shall attract new audience with the promotion of new talents through our application.
Our income will come from advertisements, competitions with telephone charge and from two premium contents; each of them will cost 3€ per month. “Music premium” will contain music playlists created by DJs who have participated in youth music festivals abroad. “News premium” will include a list with all the conferences and seminars which take place in Greece. Next, the key resources needed to materialize our concept are suitably equipped offices, app designers, radio producers and journalists.
Our key partners will be Ant1 channel, the sponsors and the advertisers.The key activities ,that should be done ,to lead our application to proper operation are the successful advertisements, the promotion of the application, the ongoing progress and improvements and the spotting of new talents.Lastly the cost structure is related to the building offices where our application will be situated the suitable equipment, the amount of money needed both about the application promotion and the staff as well.
Corrections
Our professor and the Ant1 team have made the following remarks. We should diminish the content production as a huge content presupposes lots of expenses, which we most possibly could not be able to afford. So we ended up keeping only the current existing Ant1 radio programs. Moreover we were told that the revenue streams were not advisable since the telephone charge competition have been banned by law. Furthermore they advised us that we would find it extremely difficult to convince our public to choose our premiums and spend money on them. As for the advertisements are not an adequate income to cover the maintenance cost of the application. Consequently we withdrew the competitions.
Then in order to convince our users to choose the music premium we thought it would be a good idea each time a user becomes a subscriber a code number will be sent to him instantly. This code number , will enable the user to participate to a lottery directly so as to win a trip to a youth music festival abroad including prepaid accommodation and air tickets. On top of that, the people who have chosen the news premium will be getting a discount in certain conferences and seminars into Greece. Lastly, we were advised to define the certain age category our application is aimed at. Most particularly, our application concerns young people who love music, music festivals and participate in their studies field as actively as they can , as anyone can understand from the premium contents we have created.
Ομάδα: Marketistas
