The primary purpose of this analysis is to understand how we can price ourselves and to list the target audiences we can cover.
Basis my understanding, we track a lot of the metrics that are tracked by Oura, Ultrahuman & WHOOP, however, our advantage comes in with:
- The brain & jaw related metrics that we track which allow us to introduce features that they can perhaps never release.
- The accuracy of the features we have in common is bound to be either better or similar to that of our competitors' devices.
Why our accuracy for some metrics is bound to be higher(click to open & close)
- Sleep insights will be better for us as we're measuring EEG as well, which is something no one else has access to. Measurements around recovery will also be better due to the same reason.
- We can better track HR as we're measuring the pulse at the temporal artery, which will give a better reading than at the wrist / finger.
- Skin temperature measurements will be quicker & more reflective of systemic changes as compared to a sensor at the wrist / finger.
This will allow us to not only target the current consumer base of Ultrahuman, WHOOP & Oura, who is quite often a buyer who cares about incremental differences and makes an informed decision, but also target a whole new market that's focused on measuring productivity, brain activity and other head / brain related metrics throughout the day.
Pricing:
I must admit, I strongly debated a flat pricing strategy versus a subscription based one. Initially, after seeing Ultrahuman's 2024 report, I felt that the gifting boom that comes with one-time-pay products is a good reason to opt for this route. However, if google search trends are to be taken as proxy for purchase, then subscription based businesses like Oura & WHOOP see similar trends to flat-pricing models like Ultrahuman during the holiday season.
I believe we should begin with a no-subscription model to ensure that we have cashflow in the beginning and then later on, subsidise the base product price while introducing a subscription. We can take this a step further by introducing something akin to PowerPlugs by Ultrahuman or the tiered subscription that WHOOP offers.
We should look to price the product (regardless of flat pricing or a subscription based model) somewhere between $200 - $450, which falls in the same range as the pricing of other such products.
Pricing of other longevity / bio-hacking focused products:
- Oura Ring: $350 + $70 - $72 per year in subscription fees
- Ultrahuman Ring Air: Flat Pricing: $350
- WHOOP: $199 - $359 per year (dependent on the plan one chooses to purchase)
- Samsung Galaxy Ring: Flat Pricing: $400