A service in the form of a website for students, graduates and people living on their own for the first time. The service gives the users tips on saving, deals, comparisons and a sign in budgeting system linked to a bank.
- Easy to use website that is mainly students and graduates can sign up for in partnership with a bank to help them get used to living away from home for the first time.
(like a finical advisor)
- The service would feature, budget week by week, tips on where/how to save money, comparing products/services, forum, deals (get discounts on items and places), savings - putting money aside to a reach a goal.
- A website rather than an app as this will encourage people to engage with the service more as a website because of the amount of content that will be there it would not connect people in the same way if it was an app to start with.
Strengths -
It will caters for the whole target audience, its not just aimed to students or graduates it covers the full spectrum of the target audience and if not even more.
Being in partnership with online banking/PayPal will encourage people to use the app, as this means that people who already use PayPal would be encouraged to use the service and already trust the way that PayPal works.
Create a link between the costumer and the bank, more personal because they are giving you "one on one" feeling like a financial advisor doesn't male people just feel like a digit.
Being a website rather than an app would encourage people get stuck into the site and use it properly rather than just scrolling around using it on your phone.
Weakness -
Users may find it difficult to navigate with the amount of information being offered to them, the information needs to be clearly categorised this will help the site to be less crowed and easier to use for first time users.
Getting the critical mass of information to get people to be interested in the site, to help this would be crowd source information to make people engage with the system, everyone that can contribute (like waze).
It will caters for the whole target audience, its not just aimed to students or graduates it covers the full spectrum of the target audience and if not even more.
Being in partnership with online banking/PayPal will encourage people to use the app, as this means that people who already use PayPal would be encouraged to use the service and already trust the way that PayPal works.
Create a link between the costumer and the bank, more personal because they are giving you "one on one" feeling like a financial advisor doesn't male people just feel like a digit.
Being a website rather than an app would encourage people get stuck into the site and use it properly rather than just scrolling around using it on your phone.
Weakness -
Users may find it difficult to navigate with the amount of information being offered to them, the information needs to be clearly categorised this will help the site to be less crowed and easier to use for first time users.
Getting the critical mass of information to get people to be interested in the site, to help this would be crowd source information to make people engage with the system, everyone that can contribute (like waze).
Opportunity -
To become the UK's number one money expert website because the site uses the best parts of every system to create the best of both worlds, the users would not need to go else where as this site can offer it all.
To move onto other platforms, by introducing the website first it lets people get to grip with it so next would be to release an app that means people can save and compare on the move, as this is where technology is heading.
Threats -
Of course there are sites which offer similar services, this could effect how many people are going to use the site to start with.
The fact that it is going to be a just website to start with could put people off as they can't take it around with them but this is also a positive as they will get better results.
Target Audience -
As my concept doesn't yet exists I don't have any demographics who is using a site, but what I can look at is who my target audience is and what is out there for them already. I have already highlighted some apps/websites that people of a similar target audience can use currently but these apps have problems, so what is going to make people use my site over any other?
Students, graduates and young professionals (18 to 24) -
To make an website that works and engages with the target audience correctly you have to understand the market, what are people of this age doing, what are there lifestyles choices, trends etc. I discovered a company called Voxburner that specialises in figuring out the top brands that 18-24 year olds are using. This helps you understand what people are interested in and how you should design and market a website at this audience.
2014 report (most recent report available) -
When looking at certain polls I picked out the mainly screen based ones as I you are able to see what the current trends are for the target audience and this helps you to understand what people think is a good app and what is bad. This is good as I will now be able to take this information and see what people like about the usability. This information makes it easier to see what the current trends are and how people use them, there fore it can benefit me when building my site as I will know what people like and what people don't like to use.
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