[slide 15] Quantified Value Proposition
As seen in table 2, Higher provides users with value that is unique to our platform. We allow both businesses and potential employees to find each other quickly and with ease. For employers, Higher only shows candidates who are determined to be the most suitable which expedites the screening process. Our requirements for proof give employers the ease of mind that the people they connect with are genuine and qualified. Potential employees only have to upload a resume once which significantly decreases time spent applying for different jobs. They are shown job opportunities that align with their skills and their desired industry, which saves them from the tedious task of searching for jobs they are qualified for. Furthermore, they are matched with companies who mutually want to work with them which provides a more concerted hiring experience.
[slide 16] Financial Modelling
Our business model combines an advertising revenue model with a freemium revenue model. Advertising revenue allows monetary income to be earned by displaying paid advertisements on a platform. We are paid to display an ad and provide click-through functionality to the advertiser's platform. This model is dependent on high traffic volumes to generate significant income. Our service should attract a large user base as it targets both employers and employees which will allow us to make the most of this model.
The ad revenue model will be implemented by partnering with Google AdMob, an ad monetisation platform. After signing up for this platform, we will simply need to allocate ad space on our app. Advertisers then set bids for those spaces and the system chooses the ads that are most profitable and best suited to our user demographic. Google AdMob also helps app developers gain insights about their users and maximise ad revenue through tight integration with Google Analytics. Using this platform, we can set the broadcast time and number of impressions which will allow us to manage the costs of using the service.
Google AdMob allows its users to have a hybrid monetisation model. Therefore, as seen in table 3, we will use two formats for our ad display – native ads and interstitial ads. Native ads are those which appear part of the app and can be perceived as part of it as they blend into the design and content. Interstitial ads are full-screen ads that hover over the app page. This format won't go unnoticed as users must interact with it to continue to use the app by either clicking through to the advertiser's platform or closing the ad. If placed properly, this format won't annoy the users and has one of the highest eCPM (effective cost per mile) rates.
[slide 17] Financial Modelling
In addition to ad revenue, we will use a freemium revenue model. This is a model in which the most basic service level is free for all. However, users can pay for a subscription to a premium version of the service. Revenue is thereby generated by converting users to paying customers. Our service will be two-tiered, Higher will be the basic, free version of the app. Higher Premium will be available for subscription to all users and includes additional features and benefits for customers.
.
