Lessons Learned©: Dollar Shave Club (Exploit long-held frustrations)
Dollar Shave Club introduced a subscription model for selling razors using slapstick humor on YouTube. Now, Dollar Shave Club is being bought by Unilever PLC for $1 billion cash. Among the lessons learned and traditional industry norms broken are:
- Exploit long-held frustrations about the cost
- Exploit long-held frustrations about the inconvenience of shopping for them
- Take advantage of an industry that is or was slow to change
- Market to targets the way they "talk about" and want to be "talked to" the product or service“
- Assemble a great team
- When possible, turn a one-time purchase into a subscription
Think about your industry and the top 3 -5 issues faced by your customers.
Apply the above.
If you can't figure it out or want some help, call me! 301-351-7062