Episode recap Season 1

Own It Now – Zip

Zip is a Buy Now Pay Later product in Australia. It’s one that we – full disclosure – have a special connection to: Daniel’s sister and brother in law both work at Zip 👯‍♂️

We discuss the difference between Zip and a credit card, talk about aligning its interest with those of its users, and cover the company messaging.

Daniel shares what problem Zip is solving for its users and contrasts this to a credit card offering. He also explains the idea of interest alignment between a company and its customers. For Zip, there is a clear alignment of interest between it and merchants, but perhaps not so much between it and customers borrowing money.

Lena covers Zip’s positioning and compares it to two of its competitors – AfterPay and OpenPay. It turns out that all three have slogans and websites that sound and look very similar. Zip’s three core values all hint at it being different and innovative, so sounding and looking exactly like others is a problem 🤷‍♀️

Our recommendations for Zip?

  • Figure out your USP and create messaging around it. Simply saying you’re different doesn’t tell people what it is you stand for.
  • Rethink company strategy: align yourself with your users’ interest. How can you make it so that when you do well, your users also win?

And as always, please let us know your thoughts 💡

Links to resources mentioned in episode

Zip website

Boris Müller – Why do all websites look the same?

Lior Yair – Longing for Innovation