Woki- Toki
The Antenna Music Team gave us a challenge and frankly asked us “How can we make radio cool again?” Well , this was a tough call for sure , I mean , how is it possible to make an obsolete device, like radio , cool again ? And when we say cool , we mean how it can become youth friendly or really popular on the masses or technologically enhanced etc. .
Value proposition canvas
Many companies struggle and fail because they can’t adequately satisfy and accomplish their clients’ expectations. Therefore , if we want to avoid such an incident , we had to create a canvas for our idea . As we are un-experienced given the radio and all the factors that surround it , we firstly did some perplexed thoughts about its development ,design and innovation . What we didn’t actually did at first though , was to think like our target group , the young people , who we surely need if we want to make it cool again .
And guess what , we’re young people too ! So we started thinking about what we find annoying in radio , its pros and cons and also it’s customer jobs . Based on the pains , gains and the customer jobs of the radio , our idea of “Woki-Toki” emerged and we tried to find a solution upon them .
To clarify our point , we focused on the bad signal that most people face a lot , the podcasts , the user-friendly design of our app , the participation and interaction of both listeners and broadcasters , the downloaded broadcasts and podcasts and the continuously refreshed content .
Business model canvas
Having finished our value proposition canvas , our next step was to create the business model canvas. Its purpose was to provide a complete disclosure of our apps model .We gave it a shot and presented our idea in front of our colleagues and the Antenna Music Team .
The feedback we got was extremely useful for us and it orientated our idea towards exploring its own core . Thus , our idea underwent some alternations . We tried to follow all the feedback’s advice and evolve our idea . We focused on the thematic broadcasts, the music whose content will continuously refreshed, on giving the chance to our clients to upload their own playlists , on downloading their favorite broadcasts and podcasts and last but not least , “HeardIt” which is similar to Reddit , for those who’re unaware , and it’s an app that contains addictive audio stories.
As far as the rest segments are concerned :
1. Costumer Segment
It is consisted by radio listeners , those who are generally interested in music and also DJ’s and Producers . All in all , we exclusively want all the music addicts because it’s an app that lives up to their billing and would important if they got our back .
2. Channels
Who’s gonna spread our word ? Social media , radio stations and their own web pages on social media and of course , YouTube
3. Customer relationships
How to get them ? The app is client friendly , it has a catchy design with young spirit and will entice early customers with interesting offers .
How to keep them ? Through contests , new stories will be constantly available and there’ll will be a forum where people can cite their complaints and we’ll try to provide them with solutions .
How will we grow? Through podcasts and stories that will only be available with premium account .
4. Revenue streams
Through stations (Pay to be in the app) , Premium version and Ads
5. Key Resources
Software programmers , office , graphic designers , finance
6. Key partners
Stations and Suppliers, both audience and podcasters
7. Key activities
Productions , successful promotion , chance to download podcasts , upload playlists , new content
8. Cost structure
Office rent , app designing and software creation , technological devices, wages , costs for ads
Nevertheless , our idea still lacked of a main point , a core which will define the whole concept and take us to the next step . Therefore , HeardIt became our idea’s main body and we tried to develop it .
Final pitch
We sat down , came up with some ideas , some were excessively flossy , others were more practical but lacked of uniqueness and others weren’t feasible at all . However , a sparkle of creativity emerged at a point and we started developing our idea , theoretically though . If we wanted to choose the idea and try to materialize it , we should go out ,talk with people and ask them about their opinion about our vision . And that’s what we actually did . We created a specially modified questionnaire , whose questions had to do with radio , podcasts and of course, our idea .
We wanted to aim a specific target group so we shared our questionnaires with people between the ages of 15 and 30 . Through the survey we conducted , we mostly wanted to hear the opinion of those who listen to the radio and podcasts . What’s more , we personally interviewed 25 people , we described them our app and we drew a parallel between HeardIt and Reddit and hopefully , their response was way positive . We approached people who listen to the radio and podcasts and would probably pay to buy an app .
Thanks to these people ,we learnt that a premium version of the app would work better for its development ,what kind of stories do they prefer to hear on podcasts, they feel the need to have access not only to optical content but also to acoustic one. Before giving the solutions , we had to confront some problems we noticed . To me more specific , these problems are the lack of acoustic content , people desire acoustic content because it’s more complete and enlightening compared to the optical content and people are tired by bad signal . The final version of our app included Radio/FM , Podcasts and our valuable item , HeardIt . The essential part of our app is HeardIt .
HeardIt is actually a podcast which includes addictive stories (Drama , Love etc.) . Those stories are free to be downloaded by the users so they can hear them whenever they want . What’s more , HeardIt includes various series and episodes whose content will be continuously refreshed for the audience . Subsequently , had it not been for the revenue model ,we wouldn’t have managed to create a sustainable model of our finances . Our revenue model is comprised by:
1)Freemium version’s revenue
-Some episodes of our series are charged so users are able to decide, given their own interests, whether to buy them or not
-Individual episodes cost 0,49€
2)Product is free but services are not :
-Downloading the app is free
-Users can chose from the beginning to buy the premium version ( all series and episodes are automatically unlocked)
3)Ad-based
In a nutshell , working on this project was a memorable experience for us . We learned so much through this process and we deeply appreciate the chance we’ve been given by Antenna Music . It was great opportunity to work on something we’re really interested about ,develop our idea from the beginning and try to rebirth radio from the ashes .
Marketing- Holics (MH) : Vassilis Fragoulis Martha Skyrianou Zefi Zervou Xenia kissa
