What are the most common questions I’ve been asked when I tell people about Transfin.?
“What is your target audience?”
“Business and Finance is very niche! Shouldn’t you cater to a broader market?”
“Instead of competing with the big guys, shouldn’t you try to be more niche?”
“Do you really expect Transfin. to replace your user’s daily News information diet?”
There is obviously a recurring thread here.
They’re all concerning who is or would eventually consume Transfin.’s content offering (or for that matter any News platform’s proposition) and how i.e. what is called the “Demand side” of News.
First things first. Who is a typical Transfin. user? A quick browse through our site may help you narrow it down.
We publish Business, Finance, and Consumer-oriented stories, almost obsessively refraining from Politics, Entertainment, and Lifestyle. We only publish in English (for now). Our content is a mix of deep dive Opinion-style articles written by experts & professionals as well as curated Insights pushed by our in-house team.
From the sound of it, are we just aiming for a niche Tier 1 city English speaking resident, who is upwardly mobile or aspirational enough to care about Business and Finance? While our target audience would include this group, there’s certainly room for more nuance here.
Our experience has allowed us to look at the typical News consumer through a behavior-oriented framework, rather than a market-based view.
Consider two buckets – the Power User and the Light User.
The Power User is a News junkie – driven by intellectual curiosity and the need to gain a layered understanding of any News-worthy event. He would depend on multiple apps (4-5 at least) for his daily information diet…typically a combination of social media, News aggregators, and traditional News publications. No single News outlet on a stand-alone basis can hope to fully serve the needs of a Power User.
He strives to digest as many views and perspectives as possible on a singular topical event, while gaining the maximum “context”.
The Light User is a somewhat opposite animal. Not a hermit so to say, but not as obsessive a News consumer as the Power User. He wishes to know what’s worth knowing and realizes the importance of its role in creating a well-informed civil society member but doesn’t either have the hunger or time to chase additional context. He would rather love if someone can package and present it to him. He typically doesn’t use more than 1-2 apps for his information diet.
Ok, very well. Where does Transfin. sit?
For the Power User, we wish to serve as a viable and high value addition. For the Light Userm we can be expected to act as a reliable “replacement” product.
Well, our expert views and deep dive analysis (Articles) would serve the former, while our Curation products (LongShorts, End Of Day Wrap Ups, Podcast) are something the latter can depend on to come across as someone who is well-informed.
Why Do We Prefer this Framework?
Because we feel it helps us hit the sweet spot in terms of audience size and growth potential. It is to strike the balance between being too niche or too broad. To tread the former path “solo” implies we’ll challenge our own scalability. The latter route also doesn’t help as then we would lose any differentiation and end up competing with the big boys whose resources for the moment cannot be matched.
After endless existential discussion we’ve had internally, we’ve realized the middle path may be the best one. Remember someone else saying it as well.
Spiritual metaphors aside, we’re a work-in-progress piece. And the jury is still out.
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