Wize up on what to buy (Part 1)

Following my conversation with TheFind, a lifestyle shopping service, here, we explore Wize, a product research engine. In this discussion, I am speaking with Tom Patterson, CEO.

SM: Please describe your business value proposition and your product.

TP: Wize is focused on helping people decide what to buy. We do this in several ways.

First, we use all the user and expert reviews we can find on the web to give each product a 1 – 100 score, or Wize Rank. Wize Rank is the quickest, easiest way we know to figure out which products are best, and to filter out the ones that aren’t worth considering. Since it’s based on an algorithm, Wize Ranks are completely impartial and can’t be manipulated.

The next thing we do is collect other information related to product
research – specifications, stores, prices, and “buzz” (akin to popularity)
and present them to customers as simply and clearly as possible.

SM: What is your target customer? (Please provide a good segmentation perspective)

TP: The ideal Wize customer is an experienced online shopper who is comfortable
with the internet. He or she tends to be pressed for time, and favors good,
practical products over the hottest new thing. Our target customer is
concerned with giving great gifts.

What we’ve found in our research is that our customers are people who want
to be empowered to make their own decisions, not people who want to be told
what to buy. As a result, the Wize experience – and the one that we’re
continually working towards – is focused on giving people access to the
information they need to make smart decisions.

(to be continued)

[Part 1]
[Part 2]
[Part 3]
[Part 4]
[Product Review]

This segment is part 1 in the series : Wize up on what to buy
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