Analysis of Wix
- Customer (Who specifically is helped?)
- Small businesses, artists, and entrepreneurs who want to create their own professional website.
- Pain (What is the frustration for the customer?)
- Getting a website made is expensive, complicated, and takes a long time. You have to hire designers and programmers, and figure out technical things like web hosting.
- Solution (How does the product remove the frustration?)
- Wix provides a fully-hosted, cloud-based platform with an intuitive drag-and-drop visual editor and hundreds of professional templates, which abstracts away all the technical complexity of coding, server management, and security.
- Offer (Pricing, warranties, terms)
- A "try-before-you-buy" approach. You can start with a free plan (which has Wix ads). To get more features like selling online or using your own domain name, you upgrade to a paid monthly plan (around $20-$60 CAD/month).
- Channel (How do customers discover and purchase the offer?)
- Heavy online advertising. They pay to appear at the top of Google searches and run lots of ads on YouTube and Facebook. They also create many articles and guides to appear in search results for free.
Exercises for the reader
- Can you think of a totally different way to efficiently help this market?
- Can you think of a different market where an analogous strategy would work?
- What is the underlying need that the customer has beyond the immediate problem?
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