The objective of this competitive analysis project is to have a firm understanding of the platform to be build by gaining insights into the strengths, weaknesses, and competitive positioning of three prominent platforms: Medium, Wattpad, and Google Docs.
By examining their unique selling points, feature sets, and user experiences, we aim to understand how each platform attracts and retains users, as well as identify opportunities for improvement and innovation for our to be build application.
| Hypotheses | Goals | Research questions |
|---|---|---|
| Medium's unique selling point of curated content and writer monetization options leads to higher engagement and retention rates. | To assess the impact of unique selling points on user satisfaction and engagement across Medium, Wattpad, and Google Docs. | How do users perceive and value the unique selling points of Medium, Wattpad, and Google Docs in relation to their content consumption and creation habits? |
| Wattpad's emphasis on community-driven storytelling and discoverability of new talent contributes to a more active and engaged user base. | To identify areas of improvement in features and user experience that can enhance competitiveness for each platform. | What specific features do users find most valuable and indispensable on each platform, and how do these features contribute to overall user satisfaction? |
| Google Docs' real-time collaboration feature is the primary driver of user adoption and satisfaction, outperforming Medium and Wattpad in terms of productivity and teamwork. | To understand user preferences and behaviors regarding content consumption, creation, and collaboration on the three platforms. | What are the primary pain points and areas for improvement in the user experience of Medium, Wattpad, and Google Docs, and how do these compare across platforms? |
| To evaluate the effectiveness of monetization strategies employed by Medium and Wattpad in attracting and retaining content creators. | What are the motivations and expectations of content creators regarding monetization options on Medium and Wattpad, and how does this impact their usage and engagement levels? | |
| How do user demographics and preferences differ across Medium, Wattpad, and Google Docs, and what implications does this have for platform development and marketing strategies? | ||
| What are the main factors influencing user loyalty and retention on each platform, and how can these be leveraged to increase user lifetime value and engagement? |
| Company Name | Medium (Direct) | WattPad (Direct) | Google Docs (In-direct) |
|---|---|---|---|
| Users | |||
| Primary Target audience | Writers, bloggers, and professionals seeking a platform for long-form content. | Young adult readers and aspiring writers, particularly in the genres of fiction, romance, and fanfiction. | Professionals, students, and collaborative teams needing a versatile document creation and editing tool. |
| Secondary target Audience | Readers interested in quality, curated content across various topics. | Publishers scouting for new talent, readers of serialized fiction, and community-driven storytelling enthusiasts. | Educators, researchers, and businesses requiring seamless collaboration and document management. |
| Customer reviews | Praised for its clean interface, diverse content, and engaged community. Some criticisms include algorithmic changes affecting visibility and monetization for writers. | Known for its vibrant community and accessibility to new writers. Criticized for occasional issues with content quality and discoverability. | Highly regarded for its collaborative features, reliability, and integration with other Google services. Complaints often revolve around formatting issues and occasional lag in large documents. |
| Product | |||
| USP’s | Curated content, monetization options for writers, and a sleek reading experience. | Focus on community-driven storytelling, serialized fiction, and discovery of new talent. | Real-time collaboration, cloud-based accessibility, and integration with other Google Workspace tools. |
| Feature List | Partner Program for writers, claps for appreciation, bookmarking, and highlighting features. | Story publication tools, reading lists, commenting, voting, and Wattpad Stars program. | Real-time collaboration, commenting, revision history, offline access, and integration with Google Drive. |
| Product strengths | Quality content curation, engagement tools for writers, and a visually appealing interface. | Large and active community, serialization options for writers, and opportunities for new authors to gain visibility. | Seamless collaboration, robust cloud-based storage, and compatibility across devices. |
| Product weaknesses | Monetization challenges, occasional algorithm changes affecting visibility, and limited customization options. | Inconsistent content quality, discoverability issues for new writers, and occasional community management problems. | Formatting challenges, limited offline functionality, and occasional lag in large documents. |
| Free version? | Yes, with limited access to some articles and features. Premium subscription available for full access. | Yes, with access to most features. Premium subscription available for ad-free reading and additional perks. | Yes, with basic features available for free. Google Workspace subscription required for advanced features and increased storage. |
| UX/UI | |||
| Tone of voice | Professional, informative, and occasionally conversational. | Casual, youthful, and community-oriented. | Neutral, user-friendly, and instructional. |
| Color scheme | Clean, minimalist design with white background and dark text. Accent colors include green and black. | Vibrant color palette with emphasis on purple, orange, and white. | Simple and clean design with predominantly white background, accented with Google's signature colors of blue, red, yellow, and green. |
| Interaction | Encourages interaction through clapping, commenting, and sharing of articles. | Facilitates interaction through comments, voting, and participation in reading clubs. | Supports real-time collaboration through comments, suggested edits, and simultaneous editing by multiple users. |
By implementing these recommendations, our platform can further solidify its position in the market, attract new users, and retain existing ones by delivering exceptional value and user experience compared to the competition.
Recommendations for USP’s
| USP Finding | Recommendation |
|---|---|
| Medium emphasizes curated content and writer monetization. | Medium should continue refining its curation algorithms to surface high-quality content and improve monetization options for writers. |
| Wattpad focuses on community-driven storytelling. | Wattpad can strengthen its community features by introducing more interactive elements and fostering connections between writers and readers. |
| Google Docs offers real-time collaboration. | Google Docs should emphasize its real-time collaboration capabilities by enhancing user experience with features like inline commenting and improved notification systems. |
Recommendations for features
| Feature Findings | Recommendation |
|---|---|
| Medium provides a Partner Program for writers. | Medium could introduce new monetization avenues such as subscription-based content or exclusive access for premium members. |
| Wattpad offers story publication tools. | Wattpad should invest in tools for writers to self-publish and promote their work, while also improving content discovery algorithms to boost visibility for emerging authors. |
| Google Docs facilitates real-time collaboration and revision history tracking. | Google Docs might consider integrating additional productivity tools, such as task management or advanced formatting options, to enhance its value proposition for users. |
Recommendations for UX
| UX Finding | Recommendation |
|---|---|
| Medium boasts a clean and visually appealing interface. | Medium should focus on improving discoverability through better categorization and personalized recommendations, while also offering more customization options for writers' profiles and articles. |
| Wattpad fosters a vibrant community atmosphere | Wattpad could streamline its navigation and search functions to make it easier for users to find relevant content, as well as invest in community moderation tools to maintain a positive environment. |
| Google Docs provides seamless collaboration but faces occasional formatting challenges. | Google Docs should continue optimizing its platform for speed and reliability, while also addressing common formatting issues and enhancing offline functionality for users with limited internet access. |