- Investment sought:
- Equity offered:
Education should be a joy for all and the strength of audio is key to this. In every culture up to the 21st Century, the aural tradition was the most powerful source of sharing knowledge.
Audiopi is creating a brand new educational resource utilising the power of audio.
The concept is simple. To create audio tutorials via the medium of podcasts, which are directly aligned to the GCSE and A Level curriculum and a platform where schools, teachers and students can access, create and share their own podcasts.
To succeed the tutorials need to be highly informed and inspirational, adding insight that isn't available in the classroom. Hence, the tutorials are produced by expert teams of teachers, leading academics and exam board examiners and enhanced with sound, quotes and music.
The tutorials are available across smart phone, PC, tablet and laptop, making them accessible whenever anyone wants to listen to them.
The technology enables students and teachers to record and share their own tutorials too.
By creating highly specific tutorials which are directly aligned to the subjects students are learning, our tutorials aim to create an impact across all associated with education.
Students will be able to access all the relevant information they need for both their daily coursework and to prepare them for their exams. As our tutorials are being produced by a combination of academics from leading universities, exam board examiners and specialist teachers, students will be able to listen to the brightest minds who not only know their subjects inside out but also fully understand the specification. In short, the tutorials will:
Boost students knowledge of a subject
Prepare them for classes
Be a resource for essays and homework
Help them revise for exams
Increase their listening skills
Access leading academic insights
Parents will have an easily accessible resource, unlike textbooks, which will enable them to listen and learn with their children - it will get them more involved in their children's education. Listen on the way home, when homework needs to be done.
As the majority of tutorials will have input from an academic, universities will be able to fulfil any obligation of transferring knowledge to secondary education and creating that impact.
Teachers will be able to access a new resource which they can use both inside and outside the classroom, and use for themselves as well.
Schools will have access to another, new resource. By giving them the ability to purchase licences they will be able to allocate that resource to relevant teachers and students alike.
Creating a platform where students, teachers and schools can access, create and share their own recordings we believe will enable collaboration within schools and across school networks. For example, individual teachers can create their own tutorials and can share it with other teachers.
Students suffering from disorders, such as dyslexia and blindness, will have a resource which is suited to their needs.
Substantial accomplishments to date
Audiopi has built the 1st release of its website platform where students, teachers and schools can purchase tutorials.
The first 14 tutorials series are in production, totalling over 146 actual tutorials. These range across English Literature and History GCSE and A Level subjects. You can listen to the first in each of these at www.audiopi.co.uk. We have further series in production.
Our tutors include academics from the Universities of Oxford, London, Exeter, Birmingham and Kent, teachers from state and independent sector, including Dulwich College, Queen Elizabeth Grammar School Faversham and Kings Canterbury and examiners from OCR.
We have Heads of Terms with the University of Kent who will help create tutorials as part of their outreach programme.
We are concluding a number of collaborative agreements with an Australian University, a government body which promotes UK education overseas and an exclusive agreement with the Naked Scientists to produce school level Science and Maths tutorials.
The business model follows the following principles:
To sell tutorials, licences and subscriptions via our website platform across multiple devices and via direct sales.
Students can buy any number of Modules costing £14.99 directly from the platform.
Teachers can either buy a module or can subscribe for a year across subject/level – e.g. History GCSE. Subscription price goes up in year 3. Subscription prices – Year 1 £24, Year 2 £24, Year 3 £36. Both options will be available via the platform
Schools can buy a yearly licence across subject/level.
Licences increase as more resources made available
Year 1 £360, Year 2 £420, Year 3 £480
They can buy multiple licences across different subject/levels. The licences will be bought direct.
All contributors receive 30% of Net Sales.
(We have allocated a provision to purchase content as well)
The pricing structure ensures that the Gross Profit Margin is 69% (1% finance fees).
The profit margin ensures that we have the necessary funds to resource our overheads. These include:
Running Costs (Rent, Travel etc)
The organisational structure of the business model includes provision for the following headcount:
Business Development/Recruitment of Tutors
Tutorial development - creative responsibility
Content Manager - to manage the tutors
IT - from year Year 2
Third parties include accountants, the marketing agency, development agency and actors.
Use of proceeds
The use of proceeds will enable us to create further product and build a presence within the market.
To create brand awareness and a presence in the market. We plan to undertake a marketing programme so that we can build our brand and web presence to schools, teachers, students and parents of students.
To increase the production of the tutorials we intend to employ a content manager to ensure proper account management of our tutors.
Commissioning new work
We plan to use the funds to commission new work so that tutorial series can be produced in greater number and more quickly.
To increase the capacity of production by paying actors/sound recordists to help with the creation of tutorials.
To enable us to rent office space.
The money will contribute to salaries.
Students and Parents
Over 5 million GCSE's and just under 1 million A Levels are taken each year in England and Wales. Students and parents of students, are increasingly using additional sources outside the classroom. 25% of students have a private tutor.
Our student/parent audience will be defined by continually refining our marketing campaigns. Our digital marketing campaigns will enable us to accurately track the key metrics associated with it, including cost per visit (CPV), cost per acquisition (CPA), geographical location, time of purchase and device used.
Our approach will be to test a variety of marketing initiatives so we fully understand who are most profitable customers are. This should give us invaluable data that will enable us to understand the make up of our audience and their purchasing patterns. We will then further refine our marketing to drive down the CPV and CPA.
Our core months will be between September and June, to coincide with the new academic year and exam time.
We will have strict CPV and CPA targets. Our initial target CPV from Google Adwords is £0.30, reducing to £0.26 across all digital marketing activity
There are 198,000 teachers in the UK.
We will target secondary school teachers according to the subject they taught and according to our subject roll out plan. Our core audience will be Heads of Department as they will have the buying power. Initially we will target the independent sector.
There are 5700 schools teaching secondary education in the UK. We will initially target the independent sector as their budgets will be larger. We also recognise there will be opportunities across the state sector, especially if teacher/resource light.
15%-25% of children have private tuition. We plan to target Tutor organisations specialising in our subjects across GCSE and A Level.
We also plan to target school associations and academies to see if we can sell our school licences across their networks.
Characteristics of target market
Key facts about the educational market
5 key exam boards (AQA, OCR, Edexcel, WJEC, CIE)
5 million GCSE's are taken each year
1 million A Levels are taken each year
We estimate c.36 million potential sales of modules
Courses last 2 years
GCSE and A Levels are split into components, with each subject having an average of 3/4 components. E.g. English Literature GCSE has 4 key components: Poetry, Shakespeare, Modern Prose and 19th Century Novel.
Over 200,000 secondary school teachers in the UK
5,700 secondary schools (state and independent) in the UK
Approximate spend of £6,300 PA spend per secondary school pupil in the UK
Number of tutorial downloads increased by 62% between 2012 and 2014 (US)
An average of 3 million online annual searches per A Level Revision and per GCSE revision keywords within the UK
An average of 120,000 annual searches per year each module of an A Level subject. (Source: Google AdWords Tool/AQA History A Level Subject matter)
Audiopi intends to reach the market through the following marketing activity:
We plan to employ an agency to run our digital marketing campaigns.
They would be responsible for:
The agency will build our natural search presence targeting high worth keywords. They will run our PPC/Display/Re-targeting according to tight CPA targets.
We would engage in social media campaigns across Youtube, Twitter and Facebook as this is where a significant number of students are. -
Content marketing campaigns building awareness with educational websites.
Affiliate marketing programme which we plan to launch with Commission Junction
A programmatics campaign as soon as there is sufficient traffic to our website which we plan to launch with Quantcast, a leading programmatics organisation.
Our aim is for our tutorials to get exam board approval. Once this happens we hope that they would also promote Audiopi to their centres. This is already the case with OCR A Level History, who have already promoted our Early Tudors and Later Tudor tutorial series on twitter.
We intend to create relationships with subject specific associations to promote our products to their members. The English Association has reviewed some tutorials and will allow us to promote to their members.
We will target teachers via email marketing, according to what subject they teach.
As with our product, all email marketing campaigns will be highly targeted, thus ensuring we are hitting the most relevant audience with the most relevant message. Initially we intend to use Sprint Education.
Regular direct marketing campaigns to schools, followed by direct contact. This will primarily be used to target schools in order to sell licences.
We plan to build relationships with relevant associations to promote our products to their members.
We intend to promote news via our PR network of educational journalists.
Audiopi has a number of competitors, ranging from text books to free online resources. However, we believe that we have a number of key USP's.
1) Our tutorials are written by real experts, ranging from leading academics and exam board examiners.
Our academics come from the Universities of Oxford, London, Exeter and Kent amongst others.
2) Our History A Level tutorials have been recommended by OCR - as far as we're aware no other digital resource has this recommendation.
3) Our tutorials can be listened to whenever and wherever
4) To our knowledge we are the only pure audio resource available for the material we provide
5) Our tutorials are available worldwide - there are significant markets both within the UK but also globally.