Our web analytics tool, similar to Google Analytics, will have three main goals in mind as outlined in the DHM model by Gibson Biddle:
D: Delight - We will aim to delight our customers by providing them with insights that they didn't know they needed, but will find valuable. For example, we will use machine learning to provide predictive insights, such as identifying which pages are likely to have high bounce rates, and suggesting ways to improve them.
H: Hard-to-copy - We will have a unique data collection method that will be hard for competitors to replicate. For example, we will use browser extensions to collect data from users, which will give us a more comprehensive understanding of user behavior on our customers’ websites.
M: Margin-enhancing - To ensure our product is margin-enhancing, we will offer a tiered pricing model, where the more advanced features will be available at a higher price point. Additionally, we will offer consulting services to help our customers make the most of the data our tool provides, which will provide an additional revenue stream.
Overall, our product strategy will focus on providing valuable insights, using a unique data collection method and generating revenue through advanced features and consulting services.