Harvard Case - Melissa Wood Health: How to Win in the Creator Economy
"Melissa Wood Health: How to Win in the Creator Economy" Harvard business case study is written by Eva Ascarza. It deals with the challenges in the field of General Management. The case study is 18 page(s) long and it was first published on : May 27, 2021
At Fern Fort University, we recommend Melissa Wood Health (MWH) pursue a multi-pronged strategy to solidify its position as a leader in the creator economy. This strategy involves leveraging its existing strengths in online fitness, expanding its content offerings, diversifying revenue streams, and building a robust brand community.
2. Background
Melissa Wood Health is a successful online fitness platform founded by Melissa Wood, a certified Pilates instructor. The company offers a subscription-based service that provides access to a library of on-demand and live workout classes, nutrition guidance, and a supportive community. MWH has experienced significant growth, particularly during the COVID-19 pandemic, as people sought convenient and accessible ways to stay active at home. However, the company faces increasing competition from other online fitness platforms and must adapt to evolving consumer preferences and the dynamic creator economy landscape.
The main protagonists of the case study are Melissa Wood, the founder and CEO of MWH, and her team, who are navigating the challenges of scaling a successful business while maintaining its core values and brand identity.
3. Analysis of the Case Study
We can analyze MWH's situation using a combination of frameworks:
a) SWOT Analysis:
- Strengths: Strong brand identity, loyal customer base, experienced leadership, high-quality content, diverse workout offerings, community focus, strong online presence.
- Weaknesses: Limited revenue streams, potential for content fatigue, dependence on subscription model, lack of offline presence, potential for brand dilution with expansion.
- Opportunities: Expanding into new markets (e.g., emerging markets), diversifying revenue streams (e.g., merchandise, live events), developing new content formats (e.g., personalized workouts, AI-powered coaching), leveraging technology to enhance user experience, building strategic partnerships.
- Threats: Increasing competition, changing consumer preferences, potential for economic downturn, dependence on technology, potential for data breaches.
b) Porter's Five Forces:
- Threat of new entrants: High, due to the low barrier to entry in the online fitness market.
- Bargaining power of buyers: Moderate, as consumers have many options available, but loyal customers may be less price-sensitive.
- Threat of substitute products: High, with many alternative fitness options available, including traditional gyms, in-person classes, and other online platforms.
- Bargaining power of suppliers: Low, as MWH relies on readily available technology and content creation tools.
- Competitive rivalry: High, with many established and emerging players competing for market share.
c) Value Chain Analysis:
MWH's value chain consists of:
- Inbound logistics: Sourcing and managing content creation resources.
- Operations: Developing and delivering workout classes, nutrition guidance, and community features.
- Outbound logistics: Distributing content through various channels (website, app, social media).
- Marketing and sales: Acquiring new customers and retaining existing ones.
- Customer service: Providing support and addressing customer inquiries.
d) Digital Transformation:
MWH has successfully leveraged digital technologies to build its business. However, it must continue to invest in innovation to stay ahead of the curve. This includes:
- AI and Machine Learning: Personalizing workout recommendations, providing targeted content, and improving user experience.
- Data Analytics: Understanding customer preferences, optimizing content, and identifying growth opportunities.
- Social Media Integration: Building a strong online community, fostering engagement, and driving user acquisition.
4. Recommendations
MWH should implement the following recommendations to achieve sustainable growth and maintain its competitive edge:
a) Expand Content Offerings:
- Diversify content formats: Introduce new content formats like personalized workout plans, live Q&A sessions with Melissa Wood, and interactive challenges.
- Expand content categories: Explore new fitness modalities like yoga, HIIT, and strength training, catering to a wider audience.
- Develop niche content: Create specialized content for specific demographics, such as pregnant women, seniors, or individuals with specific health concerns.
b) Diversify Revenue Streams:
- Offer premium subscriptions: Introduce tiered subscription plans with additional features like personalized coaching, access to exclusive content, and merchandise discounts.
- Develop merchandise: Create branded apparel, workout equipment, and other fitness accessories.
- Partner with brands: Collaborate with complementary brands to offer joint promotions, bundles, and co-branded products.
- Explore live events: Host in-person workshops, retreats, and fitness challenges to build community and generate revenue.
c) Build a Robust Brand Community:
- Foster engagement: Encourage user-generated content, host contests and giveaways, and create interactive challenges.
- Develop a strong social media presence: Utilize social media platforms to connect with customers, share content, and build a loyal following.
- Create a dedicated online forum: Provide a platform for users to connect, share experiences, and support each other.
d) Leverage Technology for Growth:
- Invest in AI and machine learning: Personalize workout recommendations, optimize content delivery, and enhance user experience.
- Optimize website and app: Improve user interface, enhance functionality, and integrate new features.
- Develop a robust data analytics infrastructure: Track user behavior, identify trends, and make data-driven decisions.
e) Strategic Partnerships:
- Collaborate with influencers: Partner with fitness influencers and celebrities to reach a wider audience and promote MWH's brand.
- Partner with healthcare providers: Integrate MWH's platform with healthcare systems to provide personalized fitness recommendations and track progress.
- Explore strategic acquisitions: Acquire complementary businesses to expand market reach and enhance service offerings.
5. Basis of Recommendations
These recommendations are based on the following considerations:
- Core competencies and consistency with mission: MWH's core competencies lie in its high-quality content, strong brand identity, and community focus. The recommendations build upon these strengths while expanding into new areas.
- External customers and internal clients: The recommendations cater to the evolving needs of MWH's target audience, offering diverse content formats, personalized experiences, and a supportive community.
- Competitors: The recommendations aim to differentiate MWH from its competitors by focusing on content innovation, community building, and leveraging technology for growth.
- Attractiveness: The recommendations are expected to drive revenue growth, increase customer acquisition and retention, and enhance brand awareness.
6. Conclusion
By implementing these recommendations, MWH can solidify its position as a leader in the creator economy, achieve sustainable growth, and continue to empower individuals to live healthier and happier lives.
7. Discussion
Other alternatives not selected include:
- Focusing solely on organic growth: This approach would rely on MWH's existing strengths and avoid significant investments in new initiatives. However, it may not be sufficient to keep pace with the rapidly evolving market.
- Merging with a larger company: This option could provide access to resources and expertise, but it could also dilute MWH's brand identity and compromise its values.
The key assumptions of our recommendations include:
- Continued growth of the online fitness market: This assumption is based on the increasing demand for convenient and accessible fitness solutions.
- MWH's ability to adapt to changing consumer preferences: This assumption relies on MWH's agility and responsiveness to market trends.
- MWH's ability to attract and retain talent: This assumption is crucial for implementing the recommendations and ensuring the company's long-term success.
8. Next Steps
MWH should prioritize the following steps to implement the recommendations:
- Develop a detailed strategic plan: Outline the specific goals, timelines, and resource allocation for each recommendation.
- Conduct market research: Gather data on consumer preferences, competitor analysis, and emerging trends.
- Invest in technology and talent: Build a team with expertise in AI, data analytics, and digital marketing.
- Pilot test new initiatives: Launch pilot programs for new content formats, revenue streams, and community features.
- Monitor progress and adjust strategies: Regularly evaluate the effectiveness of the recommendations and make adjustments as needed.
By taking these steps, MWH can confidently navigate the challenges and opportunities of the creator economy and achieve its long-term goals.
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Case Description
In October 2020, Melissa Wood-Tepperberg, founder of the digital subscription wellness platform Melissa Wood Health (MWH) and creator of 'The MWH Method,' was evaluating the strategic directions of her company. What had started as a way to share workouts and wellness tips via Instagram only five years ago, today was a growing business enterprise. The MWH membership was reaching 92,000 paying subscribers who accessed the content in her platform. Wood's base of Instagram followers was also growing, now totaling more than 650,000, along with the number of brands who sought her attention and endorsement to promote their brands via her Instagram account. As the business grew, new opportunities arose. Today Wood was meeting with executives of a large fashion retailer who had proposed a partnership to create, launch, and sell Wood's own collection of apparel-an important step for MWH towards becoming a lifestyle brand. How should Wood approach the negotiations about the deal terms? What would this partnership mean to her members and followers? And how could she ensure this new partnership would help propel the other parts of her business?
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