Share this Idea
What problem does your solution solve?
High School students from across the country dread the ultra-important SAT and ACT tests. Thought of as boring and burdensome, these tests bring misery into the lives of nearly every single high school student in America. Through primary market research, PrepUP found that students feel like the SAT and ACT need to be made fun to study for. Students feel that an app that makes these tests into a game will encourage them to study more and get better scores.
What’s the market potential for your solution?
2.5 million students take the SAT and ACT each year. Of these students, 1.325 million students have smart phones. From my competitor’s data and other sources, about 750,000 students download SAT and ACT prep apps each year. Through app analytics on PrepUP: The New SAT and ACT Prep App, I have found that 75% of these students are female, they are top 10% in their class, and they consider themselves academically advanced. I have also learned that about 10% of the users are from outside of the country and that PrepUP has been the #1 Education app in Nigeria and top 5 in several other countries solely from people searching for a test prep app on the App Store (no marketing has been done so far).
Who are your customers?
Users are high school students preparing for the SAT and ACT. While our revenue source comes from some in-app purchases from the students, most of the revenue will come from test prep companies who will fulfill the advertisements. Therefore, we are a B2C company who also makes B2B connections to make money.
How will you reach your customers?
PrepUP will use PR to spread the word into as many news papers and blogs as possible using the tagline "16 year-old app developer is
revolutionizing the world of test prep by bringing people together to study." PrepUP has gotten into dozens of blogs, national newspapers, and even a TV show. In addition, Khakhar will personally make an informative Youtube channel to teach students how to ace the SAT and ACT. PrepUP is also making B2B connections with test prep companies. The test prep companies will tell their students to download the free app; the student's score will increase because of the app, and the test prep companies can take credit for it. PrepUP is also reaching out to schools to have them send out emails to all of their students to download the app for free (total of 2 schools so far).
Social media presence such as Facebook ads and forum participation will also be
used; however, much of the marketing plan depends on the user persona (household income,
class percentile, etc.).
How will you make money?
PrepUP needs to make various B2B connections. For advertisements, I will personally close deals with the various online test prep companies who are willing to pay the high advertisement rates. Moreover, I am making partnerships with other test prep and college guidance companies who tell all of their students to download the app and in exchange, the student’s test scores will increase for free because of PrepUP (has already been implemented in one company).
What kind of partners will you need to make, support and distribute your solution?
Partnerships include as many test prep and college guidance officers as possible. In addition, PrepUP will try to get into as many schools as possible through the college guidance officers.
What will your expenses include?
PrepUP severely needs funding in order to kick off the marketing campaign and gain a critical mass of users. A part of the funding will be used to market the app based off of the user persona. PrepUP also needs funding to expand. The money will be used to optimize the iOS app by increasing the Daily Active Users, K-factor, and R-zero. Once the iOS app is optimized, we can use the funds to develop an Android version so every high school student can have PrepUP in their pocket.
Who is your competition and how do you differ?
PrepUP has several competitors: ACT Online Prep, ACT Prep, ACT Flash, ACT Up, SAT Up,
ACT Prep, Daily Practice for the New SAT, SAT Up, SAT Flash, and several others.
However, all of my competitors only have 2 functions: practice tests and the question of the day. PrepUP is the only app that has students connect with social media and compete in a live, head-to-head match in a series of multiple-choice questions. PrepUP also has Customizable Practice Tests and the Question of the Day as well!