Lately, we have noticed a mutual problem at people with no common
background: the chaos of everyday life. Many often complain about the
amount of daily tasks they have so they postpone them until the last
moment. Postponing can lead to more stress and therefore have a negative
impact on one's health. When people begin to be conscious about it, they
turn to apps to declutter their life. These apps consist of to do lists,
notes, trackers etc, but the main issue is that there isn't an app which
includes them all keeping up with more than one app can be time and
energy consuming.
Solution
The solution we offer is a mobile application which lets you track your
habits, tasks, spendings, moods and prepares monthly reports. The
purpose of these reports is to evaluate your daily activities and
evolution. Besides that, the user can benefit from various related
articles for further reading.
Customer segments
Our application is intended for everyone looking forward to organize,
track and improve their life personally or professionally.
Competition
Everyday
Everyday is an app that lets you track your habits. Each user can
add and customize his own habits. The user can also visualize his
progress and the app generates statistics regarding each user’s
progress.
Any.do
Any.do is an app that helps you stay more organized. The user can
create shopping lists, to do lists and he can also prioritize his
tasks. The user can set a reminder for each event added to the
calendar.
Daylio
Daylio is an app where you can have a journal without having to
write your thoughts. The user can pick the mood of the day and he
can also add the activities he’s done during the day. Based on the
user’s input the app generates statistics.
Our advantage
If a person wants to keep a journal, keep track of his habits, insert
his daily activities and create a shopping list, he has to download at
least 2 or 3 apps in order to do so. Track it! has all of these features
integrated and it is designed to be that app that makes life easier and
helps you stay organised and motivated. Our advantage over the
competition is that, at the moment, there is no other app that has all
of these specifications integrated.
Key metrics
Key metrics are numbers and actions on the mobile application that
matter to reach our strategic objectives. Here are a few points that we
intend to follow:
Number of downloads and installs
App acquisition - where the downloads came from
Active users - Daily Active Users (DAU) and Monthly Active Users (MAU)
Average Daily Sessions Per Daily Active Users - the number of sessions
per day divided by the number of DAU
Average session length
Number of accesses per page/feature
Retention Rate - how many users return to the app after using it
previously within a set period of time
Churn Rate - the opposite of retention rate, how many users stopped
using the app after the same set period of time
Average revenue per user (ARPU) - the total revenue divided by the
number of subscriptions
Cost per acquisition (CPA) - how much acquiring new users costs
Return on investment (ROI) - measures the gain or loss generated by
the money invested versus the money spent building the app
Rating and reviews given by users
Cost structure
Buying an already developed application can imply an very high cost for
a startup, considering a rough estimation provided by a simple site like
howmuchtomakeanapp.com an application containing the features needed by
trackIT can cost as much as 30.000$. The application development is not
a kind of task that can be avoided for the aims of this kind of business
for reducing such a high price we can take advantage of our own team
programming experience. In the beginning we could launch a beta version
of an application and test it on a small group of target users which can
provide us some feedback.
After that we can take into consideration that the cost of publishing an
application on Google Play is 25$ one time fee and in case we consider
extending the market the Apple App Store will add an 99$ annual
developer fee. However, if we develop an application that can be
accessed through browser the hosting cost for the domain name would be a
monthly fee that depends on the name chosen.
Revenue streams
The app will be available for free download but will also include a paid
subscription for extended features. The app will offer 3 choices:
Free
subscription which will include a limited use of journal and activity
tracking features
Pro
subscription which will add more features for tracking habits
Custom
subscription which will offer users an extended use by giving
suggestions based on their behaviour and analysis of all tracked
activities, all of this with their individual consent
