SMM, Social Media Manager will be unique on the market, targeting one of the largest markets in the world. It is a strong platform that can scale and adapt to new additions on the social media scene. It is the first app of its kind marketed for private users. At the start the app will have a free trial version on the App store and Google play, but will later become priced at 2 euro.
We are open for IPO, merger/acquisition and partnership. As a comparison, TweetDeck was acquired by Twitter for $40 million.
The problem this product solves
Today there are more than a dozen large social media networks. They have different interfaces, manage content differently and their own pace. As a user this means spending time logging in to different social media accounts and going from one application to another, searching, scrolling, reading. The process is time consuming, inefficient and turns something that should be fun and inspiring into work. So, how do we make it easy and quick to manage and take part of all the different social media networks?
How the product solves it
SMM is an application (and web interface) and database in which you can gather your social media in one interface. The key is simplicity. At the core is a simple application and web interface, which is so user-friendly that everybody can get started in less than one minute. The users download SMM and ask the user to press on the social media accounts they want to activate. The user is able to see a flow from all social media connected in one flow. It will also be possible to post pictures and messages.
Summarized, the list of features are:
- Gather all social media accounts in one app
- Get a single, easy to grasp flow from all social media networks
- Post pictures and messengers on all the accounts without having to log in or out
- A simple and easy to understand app, that everyone can learn how to use
Product use cases
The app has 3 primary screens, which displays each primary section in an easy-to-grasp way.
Screen 1: Ask the user to press on the social media they want to activate. The first time, the user enters the username and password for each social media. After that they will be automatically log in to all accounts by only logging in to their SMM account. This solution is called Single Sign On (SSO).
Screen 2: The user is able to see a flow from all social media networks, connected in one flow.
Screen 3: Post pictures and messages, across all accounts.
Today more than 3 billion people use social media. The average time spent on social media (103 min) per day/users will, based on the current trends, increase. This means the target market, and the need for the product, is growing steadily.
We are launching SMM in English and Swedish to start with. It means that we are primarily targeting Sweden, North America and Australia. Our prime target group is people who are active, use more than two social media and are 20-45 years old . We estimate that market to be at least 100 million people.
There are currently several applications on different levels. These products are not direct competitors as they do not target private individuals. A the moment we only have one a competitor in the B2C, business to consumer market and that is TweetDeck.
The most obvious competitors in the B2B market are:
- Spread Fast
- Sprout Social
These three competitors’ aim is to provide the ability to communicate with three main functions: publishing, engagement and analysis. Other competitors’ offers the opportunity to observe and monitor social media. It´s services is targeted at businesses. These applications cost USD 10/months.
Unique differentiator from competitors
Today there is no application similar to SMM for private users. The number of social media accounts being handled through one application is unique on the private market. We will also make sure that SMM is compatible with any new social media network, to make sure the app stays relevant. A goal is to gather and co-operate with as many interesting social media networks as possible.
Company revenue streams
The primary goal is to gain a massive amount of users. When the trial period ends the app will be priced at 2 euro. Another option that is currently being explored is ad-space inside SMM.
SMM will be distributed on the App Store and Google Play.
As of Autumn 2015:
- Tested the concept on a number of people in the target group.
- Approval of loan from Almi Business Partner.
- Approval of the business concept from the incubator Create in Västerås and Eskilstuna.
Next key objectives
- Start building test application consisting of a database, single sign-on, connect all social media and create a design.
- Launch the first app version on the App store and Google Play in English and Swedish in August 2016.
- Launch the web application and the premium version in November 2016.
- App version in Chinese, Hindi and Spanish during 2017.
We have received a loan from Almi Business Partner, which means we have the resources to get the project moving forward as soon it is given green light.
21Centennium AB is the company behind SMM. The company started in 2015 and the business concept is to launch new smart products and applications connected with IT and new media. They will buy the developer resources from a specific web company and from other application developers. Furthermore, they will ensure that the project will be cost efficient and launched on time.
Use of Funds
Funds will be used as following (2016):
- Technical development: 660,000 SEK (SMM application, laptop interface, database, homepage) – Marketing: 450,000 SEK
- Others: 390,000 SEK
- Total: 1,500,000 SEK
Almi 200.000 SEK
Sales: 728,000 SEK
Costs minus sales: 572,000 SEK.
Any upgrade of SMM (new languages a.s.o) will be financed by revenues from downloads.