Snackable: Quibi Problems
Quibi has been discussed a lot recently, here are a few ways I have been thinking about Quibi.
I believe Quibi (aka “quick bites”) have three main issues right now (apart from just Corona) apart from the known features that includes paid subscriptions with ads (go figure) and non social sharing features (think overcast snapshot of the podcast) sharing features:
1. Product (Marketing) Fit
Quibi had such bad reviews before going live it needed a breakout hit and a lot of press and social buzz around one or two pieces of content.
The brand isn’t Disney, Apple or HBO and doesn’t have muscle memory to tap into nor does it have hearts or minds before launch to carry it through a rough patch.
The product is not designed to be filling the right timeframe.
In it’s current format (10mins) it is too long for couch watching or toilet time. Quibi is competing with too many powerful competitors, there are personal and professionally produced video / content thats just from a couple of social networks and that’s just competiting with those competitors already filling boredom time.
The 10 minute slot it too long to fill with majority of their demographic working from home on back to back zoom calls, whereas commutes and competing against podcasts would be a better fight.
2. Timing
Quibi forced the product out before it was the best time for them. The length of Covid period is anyone’s guess right now however going out early meant there was no prep and momentum.
Having mid and big sized company experience, it needed a strong higher mid tier leader to say we need these three features to combat the timing issues and we need to communicate when they are coming. With the leadership team I imagine it would have been difficult to speak out on this.
3. Advertising
It is clear Quibi needed to ramp and then ramp again when didn’t take off week 2+. It is the cheapest time has been to advertise. Cheaper ad buys would have worked for them if they ramped in smart geos and boosted with celebrity and influencer amplification.
Long term I believe it has a lot of potential and will gain traction but needs a break out or two to make people get out the time “feature” and lack of program.
— For more insights, sign up to my weekly newsletter Must Reads.
