My Framer Site

Context

I participated in the regional New Venture Competition with PhD students Jesse King and Li Qi. Our product proposal, Therapist Match, was selected as a finalist at UCSB.

My role

I performed market research and drafted the business revenue proposal. I was also responsible for the design of the interface.

Duration

2023.04-2023.07

The content below is extracted from our business revenue and go-to-market proposal: for clearer reference, please refer to this link pdf.

Part 1: The Problems

It’s a pain searching for a therapist—we know because we talked to over 60 potential customers. The biggest issues people said they faced when browsing the existing therapist website were:

patients:

Psychological Burden of sifting through all the information on the internet.

Stylistic match: People realize that a therapist's clinical style doesn't suit them, or that the therapist doesn't fully grasp their cultural or personal context that is integral to their psychological care.

Cost: The money involved in finding a therapist

Psychological Burden: How overwhelming and discouraging it is to sift through all the information on the internet and still feel like they don’t know if a therapist would be a good match.
Stylistic match: People realize that a therapist's clinical style doesn't suit them, or that the therapist doesn't fully grasp their cultural or personal context that is integral to their psychological care.

Cost: The money involved in finding a therapist

Psychological Burden: How overwhelming and discouraging it is to sift through all the information on the internet and still feel like they don’t know if a therapist would be a good match.
Stylistic match: People realize that a therapist's clinical style doesn't suit them, or that the therapist doesn't fully grasp their cultural or personal context that is integral to their psychological care.

Psychological Burden of sifting through all the information on the internet.

Stylistic match: realize that a therapist's clinical style doesn't suit, or that the therapist doesn't fully grasp the cultural or personal context that is integral to their psychological care.

Therapists:

Time: They don’t have enough time to assess if a client is a good fit for them
Fit: Don’t always have a culture / personality fit with clients

Part 2: Business Revenue & Value Propositions

Therapist Match is a personalized service that caters to your unique culture and personality, making it effortless for you to find the right therapist. Similar to Netflix's percentage match system for TV shows, we provide you with a compatibility score to help you gauge how well a therapist matches your needs. Our service saves you time, reduces stress, and helps you save money by simplifying your search for the perfect therapist.

Part 3: Market opportunities

Potential Therapy Clients

TAM: 334.4 million people in U.S.
SAM: 66.4 million adults in U.S. have mental illness + 7.7 million children = 74.1 million
SOM: 29.2 million adults received mental health treatment in 2022 + 3.8 million children = 33 million
Go-to-market: 14,000 first-time licensed therapists growth per year who will need to pay for marketing to help grow their businesses.

TAM: 334.4 million people in U.S.
SAM: 66.4 million adults in U.S. have mental illness + 7.7 million children = 74.1 million
SOM: 29.2 million adults received mental health treatment in 2022 + 3.8 million children = 33 million
Go-to-market: 14,000 first-time licensed therapists growth per year who will need to pay for marketing to help grow their businesses.

Therapists

TAM: 1.2 million behavioral health providers in the U.S.
SAM: 198,811 therapists in the United States with a projected 6% growth in the next 10 years and 14,000 new job openings per year
SOM: 88,000 licensed therapists in private practice (who need to rely on paying for marketing services)
Go-to-market: 14,000 first-time licensed therapists growth per year who will need to pay for marketing to help grow their businesses.

Competitor Analysis

How are we different?

How do we provide delight for customers? We tell them what therapist is going to be the

best match for them—and by what percent! We don’t just rely on metrics our competitors

use, like gender, race, culture, location, expertise, and payment type (though we do all that too!). We

also match you up based on personality. Why, you ask? Because research shows that when

clients and therapists have similar personalities, clients have better therapy experiences.

That means we match you better!

Part 5: Go-To-Market Plan

Financial Highlights

Therapists Account Manager

To onboard therapists onto Therapist Match, we plan to hire an Account Manager to serve as the primary contact for therapists registering on our platform. This role involves engaging therapists and clinics to join, guiding them through profile setup and the Therapist Match Assessment, and introducing the option to upgrade to a Premium account with a 60-day free trial.

Social Media

SEO: We'll enhance our website's visibility through SEO by integrating relevant keywords into our web content and metadata, making it easier for potential clients and therapists to find us on Google.

Social Media Ads: Our social media strategy includes active engagement on platforms like Instagram, Facebook, TikTok, Twitter, and YouTube, coupled with monthly ad campaigns on Instagram and TikTok, A/B testing of ads, and offering shareable personalized content to users completing the Therapist Match Assessment.

Partnerships with University and College Counseling Centers (UCCC)

To raise awareness and attract future clients, we offer their therapists free Premium accounts. This strategy leverages their community connections for word-of-mouth promotion and prepares them for potential private practice with our platform, enhancing UCCC matches and first-time therapy experiences as part of our corporate social responsibility.

Part 4. How Will Therapy Match Make Money?

Therapist Match will make money a couple different ways:

Freemium to Subscription

Therapists can sign up for free on our platform and access Premium features during a 60-day trial, including the Percent Match metric and easy access to shared client profiles.

Post-trial, the service converts to a $20/month subscription, competitively priced against rivals like Psychology Today ($29.99/month) and Mental Health Match ($16.56/month), with the added advantage of our unique features. Unlike many competitors who charge for listings, our initial profile setup is free, positioning it as a cost-effective marketing tool for therapists.

Upfront One-Time Payment

Clients using Therapist Match will complete an assessment influencing their Percent Match score, with an option to buy the full report for $5. The personality assessment industry, per BusinessWire, is expected to grow from $7.42 billion in 2021 to $16.46 billion by 2028, with individual assessments priced between $0 and $54, and corporate assessments reaching up to $5,000.

Looking to the Future: Ad Revenue

We plan to introduce cost-per-click advertising once our platform achieves a minimum of 50,000 monthly page views. This potential revenue stream is not included in our three-year financial projections.

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yanting@ucsb.edu