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Today’s guest sold his previous company for a reported $115M and now he is the Co-Founder at KIDOZ, the fastest growing content discovery platform for kids.
You will discover the following:
- How to identify the customers that need you the most
- How to monetize a kid’s app
- How he built partnerships with major device manufacturers and kids apps publishers
Identifying the Customers Who Need You the Most
Your users have a need for your app but there are those who really need you the most. Find them and follow their needs. Once you determine their pain point, create and implement a solution, as long as it is aligned with your potential roadmaps. So follow their needs, they know what they are asking.
Monetizing a Kid’s App
The App Store plays a small role in the lives of kids as kids do not look for apps intentionally; they do not type keywords and mainly depend on their siblings and friends. So Kidoz created a content recommendation concept that sits quietly within other apps so when they get bored and want to move on to something else, it will pop up to offer recommendations. Relevance and timing are very important aspects in this function. Because they know how to recommend the relevant apps, the click to convert and click to install are high allowing them to lower the cost of user acquisition. It is very hard to monetize with kids so they needed to create a sustainable economy.
Building Partnerships with Major Brands
The first companies which identified the need were device manufacturers so their team approached them to create a kid modes or a tablet preloaded with kid-friendly content. It was immediately adapted by Acer, PBS and Sprout; and Kidoz recently signed a deal with Lenovo so their devices will be loaded with Kidoz. These were big brands and they were able to build these partnerships through long standing patience and finding the clients who are really willing to pay for their service.