In an ever-changing environment and in a world where customer expectations rise every day, it is difficult to produce a sustainable strategy that evolves with your business and your customers.
This is why countless companies fade over time. They struggle to develop a marketing strategy that supports growth. Whether it’s a shotgun strategy to increase traction quickly or a campaign that’s going as slowly as expected, you’re probably still putting the pieces of the puzzle together.
But if you’re able to hone your marketing strategy and continue to deploy it in a way that matters, you’ll be setting yourself up to create a consistent growth model for your business.
Some of the ways successful businesses have truly gained sustainability are through brand building, customer experience, and loyalty. These marketing pillars have become more evident over the decade.
Take a look at these companies that have come up with a sustainable marketing strategy.
Dollar Shave Club
Dollar Shave Club and its branding strategy
Michael Dubin, Founder and CEO of Dollar Shave Club (DSC), had a clear direction from the day DSC was launched. It aimed to solve the problem of buying shaving tools. His initiative was elevated by his ability to create a brand around shaving and comedy. And, we think you can agree that there’s nothing too sexy about shaving tools.
So how did DSC create a sequel around shaving?
They focused on building a smart, humorous brand using video marketing to share their message. Since launching their initial video, they’ve stayed true to their brand, targeting their two most motivating points for their target buyer: affordable razors, delivered right to your door. And they did it with clever scripts, relatable characters, and normal-life bathroom conversations.
Their continued ability to focus on social media to elevate their brand with witty commentary and savvy communication has also allowed DSC to push their brand from the screen to their words, amassing a follower base that is dropped from its initial 12,000 (48 hours after launch) to 3.9. million.
Given their current growth rate of 10%it says a lot about how they have developed their marketing to attract the right audience.
With videos like thishow can they be wrong?
South West Airlines
Southwest changed the way people traveled.
If you are outside the United States, you may not know South West Airlines. Unless you scrolled through social media to find this great rap videoyou can miss the impact their marketing and customer experience can have.
Southwest was a modest airline before taking off with a unique competitive strategy. This specific strategy: cost control.
So how did this strategy translate into a solid marketing strategy?
As a company focused on low costs and low prices accordingly, they provided a marketing strategy that went far beyond words. By launching advertising campaigns, they have developed a way to leverage their marketing through personalized customer experiences.
Using this strategy, they deployed empathy at the heart of all their campaigns – from the video above to them putting the joy and special moments of their customers at the forefront of their marketing campaign.
Here are a few more examples of how Southwest instills empathy into its brand:
- Holding a plane for a passenger who is going to see his dying grandson.
- Recognize the artistic efforts of a young passenger.
- Intervene to help a customer with a special need with JOY.
- Party with a purpose.
- A creative extra for a customer’s birthday
Not only was it a great way to showcase their brand and what Southwest is. Sharing these experiences provided potential customers with a window into the Southwest experience, resulting in increased clientele and revenue increase of 8% from 2016 to 2020.
Infusing empathy into their marketing strategy and acting on their words and message has been key in transforming this modest brand into the leading travel provider across the United States.
Stripe’s path to repeat customers.
Not all companies know the brands or are as iconic as Apple or Nike. Some companies are just superb at providing awesome service that gets praised.
Bandaged is a payment processor for millions of small and large businesses in the e-commerce, SAAS, and non-profit space. What Stripe uses for growth isn’t about comedic or show-stopping marketing gimmicks. They were very focused on understanding their customer and the kind of issues their market was having and talking directly about that issue.
Stripe leveraged its product by marketing its easy payment solution software and installation process to business owners and developers who could have their businesses up and running within hours. Effective. Simple. Yet brilliant.
What makes Stripe a leader in their fintech space is their ability to grow with their customers – a marketing strategy focused on the analysis, understanding and development of solutions to the evolving problems of their clientele. A strategy that resulted in 150% growth in transactions between 2016 and 2017.
Whatever the marketing strategy, the big question is: what next? What happens after your initial marketing success? How do you continue to market to your existing audience? How do you continue to bring value to them?
Stripe rolled out new campaigns on the back of new products. products like Striped Atlas deliver more value to their existing customer base, especially those based outside of the United States. Analyzing product campaigns like Atlas has helped them understand not only how their own customers have reacted to their products, but also how their customers’ customers have reacted.
Stripe’s ability to adapt its product and marketing message to the changes in its customers’ lives has helped it become more influential with its users.
How can these 3 companies help you?
These 3 companies have cracked the code of sustainable growth with unique and innovative marketing strategies. With a focus on brand building (DSC), exceptional customer experience (Southwest), and feedback (Stripe), they were able to capture their market to deliver significant value and build customer loyalty.
If you are looking to gain a competitive edge in your industry, especially in our local market, it would be good to take a look at your marketing strategy and ask yourself, are you focusing on brand or sales? What is your customer experience marketing message? And, are you gathering the right information from your existing customers to continue to evolve your message?
Surveying your customers to uncover their pain points is a great step to gathering the right kind of information about your product. Additionally, if you can find a way to differentiate your brand, either by creating a unique campaign or by applying empathy to your brand, you’ll be better able to resonate with your audience. Finally, taking a page from Stripe’s book, the ongoing feedback from your avid users will inform your marketing and product decisions going forward.
Brevard Nelson, Director and CEO of Caribbean Ideas Synapse