Objective

Savings Squirrel is a new mobile platform for kids to collaborate on how to spend their allowance for social good. Its founder knew American kids have $50 billion of allowance money at their fingertips.

It also knew parents wanted their kids to learn about savings, debt and investment. They had a hypothesis that kids would enjoy participating in managing their funds if it was fun and they could see the impact of their collaborations in positive change.

Challenge

Savings Squirrel needed to understand from Twitter conversations the scale of its untapped market. To identify and understand the people most likely to be early adopters and influencers who will spread the word to their friends and accelerate conversions.

Approach

Every successful company or cause has its ‘believers’.

They are your happy customers, your evangelists; they are the people who refer you to their friends and amplify your message with viral ‘word of mouth’ on social networks.

Startups need to find and recruit their ‘believers’ quickly and cost-effectively. Verifeed works with innovative new companies to strategize and accelerate user adoption and conversions. It takes the guess-work out of ‘go-to-market’, validating market size and segments, and identifying the influential people out there who want what you’re providing and just don’t know you yet.

What if you could find your customers in half the time at half the cost?

Result

Here’s what Verifeed found in one month:

  • We identified close to one million individuals who were passionate enough to Tweet regularly about the need to use technology to support children’s financial education and engage children in campaigns for social good.
  • Of this million-strong group of active Twitter conversationalists, the 10 most influential voices actively engaged 291,491 people in four weeks and the top 25 a total 389,472.

Influence is measured by a number of indicators, from the number of conversations started or changed, to the number of people re-Tweeting, mentioning and otherwise amplifying the original Tweets.

We identified five primary ‘early adopter’ persona segments:

  • Moms: Stay-at-home, activist and entrepreneurial business women.
  • Parents & Student Debt: Men and women concerned about saving for their children’s college education and avoiding crippling student debt.
  • Teachers: Individual teachers and teacher organizations, and financial education advocates.
  • NGOs & Non Profits: Child welfare organizations and international aid groups such as Save the Children and UNICEF.
  • Libertarians: Believers in home schooling and self-sufficiency.
  • In monitoring these persona groups over one month, Verifeed was able to understand what made each group ‘tick’ – their motivations, needs, challenges, circumstances, and even the sentences used that resonated with the most people. This intelligence proved vital for Savings Squirrel in effectively targeting and personalizing its messaging for maximum impact: While a Tea Party conservative mom and a Northeast Liberal mom may want the same thing, they had a completely different way of talking about it.
  • Of all the moms talking allowance, there were three segments that used completely different words and contexts to describe the same thing: Stay at home moms talked about kids needing to understand the value of money; entrepreneurial moms talked about teaching kids about how to make money work for them; Tea Party moms and home-schooling advocates talked about personal responsibility and self-sufficiency. The intelligence allowed Savings Squirrel to shape and target its Google Adwords and website messaging accordingly to boost conversions. It could also engage with individuals more effectively on Twitter by knowing enough about them to find common ground and connection.

We found growth opportunities in geographic target markets Savings Squirrel had not considered:

  • People in the UK appear significantly more concerned – or at least engaged in conversation – about financial education of children than their U.S. counterparts.
  • Major metropolitan centers where there is a concentration of highly educated parents had more engagement on the topic, particularly Washington D.C., New York City, Toronto, San Francisco and London.

This social intelligence enabled Savings Squirrel to grow its reach and engagement quickly. With its ‘Social CRM’ it could personalize conversations and content, building valuable relationships, recruiting its first customers, and engaging the most influential among them to assure viral spread of its message and growing conversions.

It also gained valuable insights to help it hone its early product to better serve early adopters.

We often ask, “What is the cost of not knowing?”

Whether a startup finding its first customers or a large established brand preparing to launch a new product or better understand a target market, it’s vital to verify your relevance on social, know your customer and what makes them tick.

It saves you time and money and gets you where you need to be much faster.

Together we can create a plan that works perfectly for you. Contact us now!