20Growth: How Wix Built a $100M Marketing Machine | Why LTV is BS and Why Time Return On Investment is the Most Important Metric | How to 10x Your Growth: What is the Next Great Channel with Omer Shai, CMO @ Wix
Timestamps are as accurate as they can be but may be slightly off. We encourage you to listen to the full context.
Podcast Summary
In this episode of 20 Growth, host Harry Stebbings interviews Omer Shai, CMO at Wix for eighteen years, who shares his unconventional approach to marketing strategy and execution. (00:36) Shai reveals he's purchasing two Super Bowl advertisements this year - one for Wix (their sixth) and one for Base44 (making them potentially the youngest company to advertise during the Super Bowl). (05:18) The conversation explores his data-driven methodology, including his preference for "TROI" (Time to Return on Investment) over traditional LTV metrics, and his philosophy of diversifying across multiple marketing channels rather than doubling down on just one successful channel.
- Main Theme: Strategic marketing investment through data-driven decision making, channel diversification, and product-centric storytelling in an AI-driven world
Speakers
Omer Shai
Omer Shai serves as the CMO at Wix, where he has led marketing efforts for eighteen years. He manages a team of over 400 people and is responsible for the company's global online and offline marketing activities, which generates approximately 3 million new users every month. Under his leadership, the marketing department has executed hundreds of worldwide campaigns including 5 Super Bowl commercials, and he currently oversees a marketing budget exceeding $100 million.
Key Takeaways
Diversify Marketing Channels Rather Than Double Down
Shai advocates for running 10 different marketing activities simultaneously rather than focusing solely on one successful channel. (18:57) His reasoning: when you do one thing extremely well, you can only succeed in one area, but when you do 10 things, you can excel in three, be okay in three, and fail in four - making three successes better than one. This approach allows you to reach different audiences with varying intents and behaviors across platforms, reducing risk while discovering new arbitrage opportunities.
Use TROI Instead of LTV for Faster Decision Making
Shai has never used Lifetime Value (LTV) metrics, instead relying on Time to Return on Investment (TROI) since joining Wix. (14:49) He measures cohorts across 1, 7, 14, and 28-day periods to make faster investment decisions. This methodology allows him to have "unlimited budgets" when maintaining an 11-12 month TROI target, as it accounts for user retention, upgrades, and churn in real-time rather than projecting uncertain future value.
Marketing is Investment, Not Spending
The fundamental philosophy driving Shai's $100+ million marketing budget is viewing every dollar as an investment that should generate measurable returns. (09:45) He emphasizes that marketing activities must ultimately drive relevant users to the site who convert and tell others about the product. This investment mindset requires rigorous measurement and the willingness to cut or increase spending based on data rather than gut feelings.
Put the Product at the Center of Your Story
Contrary to popular "why-based" marketing advice, Shai believes most companies should focus their storytelling on the product itself rather than abstract emotional concepts. (36:43) His reasoning is that people ultimately come to use your product, so showing how others successfully use it is more effective than trying to be the next Apple. This approach is particularly important for companies without Apple-level brand recognition and media attention.
Embrace AI-First Team Building
Shai is actively hiring people with "zero knowledge about marketing" but high passion for AI, preferring recent graduates who think "AI-first" over experienced marketers. (36:52) His rationale: you can teach marketing skills, but you cannot teach AI passion or the ability to operate with AI as a native system. This approach reflects his belief that AI will fundamentally change execution speed from weeks to hours in the ideation-to-implementation cycle.
Statistics & Facts
- Wix generates approximately 3 million new users every month under Shai's marketing leadership. Context: This statistic demonstrates the massive scale of Wix's user acquisition engine.
- Shai's first Super Bowl commercial cost $4.8 million including the required additional spending commitment on the network. (10:06) Context: This reveals the true cost structure of Super Bowl advertising, which includes mandatory additional spending beyond just the airtime.
- Base44's marketing budget exceeds $100 million annually, achieved within months of acquisition. (13:03) Context: Shai notes it took six to seven years to reach this marketing run rate at Wix, but only months for Base44, showing the accelerated investment strategy.
