What's Next?
BeyondKash
Existing Market.
Step 1: BeyondKash's next major opportunity is to focus on marketing and advertising our platform to potential customers, while also influencing current users of competitor’s applications to transition over to BeyondKash. Assuming my company launched successfully and is generating traffic, I hope to take the skills, connections and knowledge I've acquired from BeyondKash and invest my time and money into designing and creating a product that will assist people in solving the everyday problems they face.
Step 3: I believe that as BeyondKash continues to grow it's popularity within users, it will start to become a universally accepted form of payment that can be used to pay friends, family, contacts and even local businesses. As current technologies modernize, I hope that my company can fulfill all of the wallet needs requested by users to ultimately create an easy mobile-payment method that can be accessed without the need of a credit-card or bank account. Additionally, I believe this will, and already has, start to revolutionize the forms of acceptable payment by most local and big businesses.
New Market. Retired and Elderly.
Step 1: The radically different market I plan on researching and targeting are retired and elderly individuals. The reason why I chose to appeal to this specific group is because typically users involved with BeyondKash would be technologically advanced people between the ages of 15-59, and retired/elderly individuals fall outside of that range.
Step 2: I believe that my company, BeyondKash, can appeal to this specific market in helping to set up direct deposit services, through our platform, to offer these specific individuals an all-in-one site that provides them with all of their financial insight. This could help with dealing with retirement funds, social security and insurance transactions, as well as offer a simple way for elderly individuals to have easy, traceable access to using their funds.
Step 4: What I learned most about this new market is that typically most elderly or retiring individuals are inexperienced with technology, and since our app is based on using your mobile device, we can offer a simple way for these users to navigate our platform. What ultimately surprised me the most was how involved this specific market of customers was with their finances and how complicated some banks make it on them. This helped me realize that this "radically' different market may actually offer insight on new features that can be added to make BeyondKash more user-friendly within older generations. Some of what I assumed was proven correct, but I was mostly surprised to acknowledge that this new market could actually have potential in helping to target new users who are unfamiliar with mobile payment and managing applications on their phones.
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