Doing a competitor analysis will allow me to see what works well in similar products and also what they are lacking. Solving the problems these companies face will give my product a competitive edge. There are lots of great subscription services out there that I also want to take inspiration from.
Strengths
- Expertly chosen books: They are owners of a bookstore and interact with parents and children everyday so they see how children react to different books.
- They tailor to families with more than one child. The hand-picked books are ones that can be shared or handed down if the children are close in age.
- Extras: They often supply stickers, art supplies, small games, or activities. The box is also branded which can make it even more exciting to receive.
- The box grows with the child: Each month they include a “what’s new about you?” card to update your interests on. Books will then be updated within the next 1 or 2 boxes.
- Personalisation: Each box takes each child’s age and interests into consideration. It feels very personal which helps build the bond between the company and the customer.
- Additional touch points: They have a podcast which includes stories and music. Children are also encouraged to draw pictures while they are listening. This is another great way to make customers feel closer to the company as it is part of their day in multiple ways.
Weaknesses
- Expensive: The personalised subscription service starts at $27 a month. This means they can’t target lower income families as it is a high end product.
- During sign-up, they don’t ask about the child’s reading ability e.g. if they are above or below the average ability for their age.
- There is no app to use alongside it. This means, when you are asked to give updates on your child’s interests, you have to physically post it to them.
- The books are personalised to each child’s interest but you can’t choose the books yourself. This could lead to you being sent a book which you already own.