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:

  1. Exploit long-held frustrations about the cost
  2. Exploit long-held frustrations about the inconvenience of shopping for them
  3. Take advantage of an industry that is or was slow to change
  4. Market to targets the way they "talk about" and want to be "talked to" the product or service“
  5. Assemble a great team
  6. 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

 

Business Strategy, Entrepreneurship, Internet, Lessons Learned, Marketing, Sales, Small BusinessDavid Myers