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Why Wickr's Business Model is so successful?

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Wickr’s Company Overview


Wickr is a globally recognized leader in secure communication technology. Established in 2012, the company is headquartered in San Francisco, California. Wickr's mission is to secure the world's most critical communications. The company provides a range of secure and private communication tools with a high standard of user privacy and security. Wickr's suite of products offers robust end-to-end encryption and advanced security features to ensure your data is always protected. Their products, which include Wickr Me, Wickr Pro, and Wickr Enterprise, are trusted by millions of users worldwide, including government organizations, enterprises, and individuals who require secure communications. Wickr's business model revolves around providing secure communication solutions to various markets. The company offers a freemium model with Wickr Me, a free app that provides private messaging for individuals. For businesses and organizations requiring more advanced features and larger user capacity, Wickr offers Wickr Pro and Wickr Enterprise. These premium versions come with a subscription fee and provide features such as secure voice and video calls, file sharing, and full administrative controls. As for its revenue model, Wickr primarily generates income through its premium subscription services. The company offers various subscription plans for Wickr Pro and Wickr Enterprise, which vary based on the number of users and the level of features required. The pricing is tiered, allowing businesses of different sizes to select a plan that best fits their needs. By offering a robust free version, Wickr also attracts a broad user base, some of whom eventually transition to the premium versions for more advanced features and capabilities.

https://wickr.com/

Country: California

Foundations date: 2011

Type: Private

Sector: Technology

Categories: Communication


Wickr’s Customer Needs


Social impact:

Life changing: affiliation/belonging

Emotional: design/aesthetics, provides access

Functional: reduces risk, connects, informs


Wickr’s Related Competitors



Wickr’s Business Operations


Customer data:

It primarily offers free services to users, stores their personal information, and acts as a platform for users to interact with one another. Additional value is generated by gathering and processing consumer data in advantageous ways for internal use or transfer to interested third parties. Revenue is produced by either directly selling the data to outsiders or by leveraging it for internal reasons, such as increasing the efficacy of advertising. Thus, innovative, sustainable Big Data business models are as prevalent and desired as they are elusive (i.e., data is the new oil).

Customer relationship:

Due to the high cost of client acquisition, acquiring a sizable wallet share, economies of scale are crucial. Customer relationship management (CRM) is a technique for dealing with a business's interactions with current and prospective customers that aims to analyze data about customers' interactions with a company to improve business relationships with customers, with a particular emphasis on retention, and ultimately to drive sales growth.

Data as a Service (DaaS):

Data as a Service (DaaS) is a relative of Software as a Service in computing (SaaS). As with other members of the as a service (aaS) family, DaaS is based on the idea that the product (in this instance, data) may be delivered to the user on-demand independent of the provider's geographic or organizational isolation from the customer. Additionally, with the advent[when?] of service-oriented architecture (SOA), the platform on which the data sits has become unimportant. This progression paved the way for the relatively recent new idea of DaaS to arise.

Freemium:

Freemium is the sum of the words free and premium and refers to a business strategy that provides both free and premium services. The freemium business model works by providing essential services for free and charging for enhanced or extra capabilities. This is a typical practice among many software firms, who offer imperative software for free with restricted functionality, and it is also a popular approach among game developers. While everyone is invited to play the game for free, extra lives and unique game features are accessible only once the player buys.

Open-source:

Compared to more centralized development methods, such as those usually employed by commercial software firms, the open-source model is more decentralized. Scientists see the open-source approach as an example of collaborative openness. Peer production is a fundamental concept of open-source software development, with deliverables such as source code, blueprints, and documentation made freely accessible to the public. The open-source software movement started as a reaction to the constraints imposed by proprietary programming. Since then, its ideas have extended to other areas, resulting in what is known as open cooperation. Typically, money is generated via services that complement the product, such as advising and maintenance.

Software as a Service (SaaS):

Software as a Service (SaaS) is a paradigm for licensing and delivering subscription-based and centrally hosted software. Occasionally, the term on-demand software is used. SaaS is usually accessible through a web browser via a thin client. SaaS has established itself as the de facto delivery mechanism for a large number of commercial apps. SaaS has been integrated into virtually every major enterprise Software company's strategy.

Subscription:

Subscription business models are built on the concept of providing a product or service in exchange for recurring subscription income on a monthly or annual basis. As a result, they place a higher premium on client retention than on customer acquisition. Subscription business models, in essence, concentrate on revenue generation in such a manner that a single client makes repeated payments for extended access to a product or service. Cable television, internet providers, software suppliers, websites (e.g., blogs), business solutions providers, and financial services companies utilize this approach, as do conventional newspapers, periodicals, and academic publications.

Technology trends:

New technologies that are now being created or produced in the next five to ten years will significantly change the economic and social landscape. These include but are not limited to information technology, wireless data transmission, human-machine connection, on-demand printing, biotechnology, and sophisticated robotics.

Tiered service:

Users may choose from a limited number of levels with gradually rising price points to get the product or goods that are most appropriate for their requirements. Such systems are widely used in the telecommunications industry, particularly in the areas of cellular service, digital and cable television, and broadband internet access. Users may choose from a limited number of levels with gradually rising price points to get the product or goods that are most appropriate for their requirements.

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