Narratory - Developing a commercial model for the tool democratizing social AI
| Reference number | |
| Coordinator | Preparty AB |
| Funding from Vinnova | SEK 300 000 |
| Project duration | June 2020 - November 2020 |
| Status | Completed |
| Venture | Innovative Startups |
| Call | Innovative Startups step 1 spring 2020 |
Important results from the project
The goal was to find a product market fit by evaluating and implementing a commercial model for Narratory. In the projekt, we identified adjustments we had to do to the product to reach a bigger audience. Once implemented, we iterated to a commercial model that was accepted both with existing and potential new customers. We identified channels to reach these and are now ready for a re-launch of our service.
Expected long term effects
The project resulted in a revamped "no-code" product and a commercial offering. The initial positioning was deemed good, but several adjustments had to be done on the product and in the funnel to meet user´s needs. The expected effects of the project is that the service, once re-launched, will be received well and that the company will be ready to take in a seed financing round.
Approach and implementation
The project was conducted in three steps: 1) User acquisition, channels and onboarding - where we learned crucial parts of the customer needs that allowed us to iterate on the product. Development of reference cases with existing customers. 2) Development and iteration of a commercial model 3) Wrap-up and preparations for launch and fundraising. Less time than