One of the best ways to dial-in your product is to learn from those who have already discovered ways to be successful. The products you’ll see here have capitalized on established marketing psychology, provided solutions for the needs of our modern world, and created unique innovations to win over large numbers of consumers. There are valuable lessons to be learned from each one that you can apply to the products of your own business.
Etsy is a useful example to all businesses, primarily for one reason: It is an excellent example of finding a differentiator and making it work for you.
Etsy is one of Amazon’s many competitors, but it is one of the top competitors because it employs some of the best bits of Amazon, such as quick, seamless purchasing and a responsive UI, while offering customers a flavor all its own.
People go to Etsy.com because they want an alternative to Amazon, but people are also attracted to the site because, though it has a wide range of product types, it is far less corporate and more down-to-Earth, promoting all kinds of local artisans and businesses.
Lessons from Etsy:
For those who are not familiar with Periscope, it is a social app that lets anyone live-stream anything they want, including themselves, using nothing but their smartphone.
One of the more user-friendly social apps out there, Periscope makes it possible for anyone to “go live” and use the efficient self-streaming mobile app to share their little piece of the world. Beyond its ease-of-use, it caters to a deep-seated need for acceptance and friendship by bringing people together in a group video chat.
Lessons from Periscope:
PepsiCo has had their blunders, like Crystal Pepsi in the 1980s, for example (which they recently brought back for another run), but they usually exhibit some pretty brilliant marketing strategy.
Their latest incarnation is LIFEWTR, premium bottled water with an artistic flare provided by a variety of artists whose work is painted on the label.
Bottled water is a massively growing consumer market, due in part to the fact that it is a basic need. Consumers feel that they need bottled water, so it’s always a good business strategy to make something people have to buy a little more fun. The bottle design even mimics the Ethos brand sold by Starbucks, which many people recognize and identify with.
Lessons from LIFEWTR:
First of all, sunglasses are an iconic product that fills a need pretty much everybody has, so it’s safe to say that there’s an established market for any new kind of sunglasses (flooded as the market may be).
Not to mention, the wooden sunglasses appeal to hipsters and people who have it all, which is usually a lucrative demographic to target. Last, but not least, this addresses a fairly universal problem—most sunglasses are highly breakable, making a wooden design a durable remedy that will last a little longer than a typical pair.
Lessons from wooden sunglasses:
Keep Calm and…
This marketing strategy proved to be almost immediately fruitful, albeit possibly short-lived. Though it’s losing popularity now, in the past few years, we saw this phrase used as a template for a variety of sentiments and what are basically one-liners. There’s a T-shirt for every taste, so everybody can make their own personal statement using this product.
Not only that, but “Keep Calm and (whatever)” is a catchphrase, and for whatever reason, people love to use catchphrases.
Lessons from Keep Calm:
Stephanie is the Marketing Director at Talkroute and has been featured in Forbes, Inc, and Entrepreneur as a leading authority on business and telecommunications.
Stephanie is also the chief editor and contributing author for the Talkroute blog helping more than 100k entrepreneurs to start, run, and grow their businesses.