How often is a product or service so valuable that you feel great about paying for it? It’s rare, but that’s the goal right? It should be. Rewind to my Tuesday morning commute. 90% of the time I listen to a podcast or audio book. Tuesday was different. The Jets dominated the Colts and were 2-0. This made me turn on Mike and Mike to hear if they were talking about the game. As usual, it was a promo, and the promo was for Dollar Shave Club.
Let me back up for a second. I didn’t start shaving until High School. To this day, I need new shaving cream every 16 months. Beards are awesome, I’ll just never have one. In the fall of 2013 I went to the Financial Times Marketing Summit. Michael Dubin the CEO of DSC was a speaker. He spoke about the power of a viral post and opened with their now famous commercial.
We got to meet Michael afterwards. He was humble, funny, and down to earth. It was impressive enough that I went and signed up for his product. Even though I don’t shave a lot I do have to buy razors on occasion. That system is broken. Drive to CVS. Search the store for an employee. Ask them to unlock a box which they don’t want to unlock. This allows me to stand in line to buy a product that is grossly over priced. Then I get home to use it a couple of times a month. That day I signed up for DSC. I order the Humble Twin every month. It’s $1 + $2 SH. It comes to my door. The packaging is great. Messaging is funny. I use four blades that month and a new one comes.
That day I heard the promo on Mike and Mike I thought to myself, man imagine if more products/services made me feel this way? Whether you’re B2B or B2C you should be thinking this way. Here are a few ways you can have your customers excited to pay you.
Solve a Problem
DSC started when Michael Dubin had a conversation at a party with his soon to be co-founder. The topic: frustrations with the cost of razor blades. Before you can sell your product or service you need to define the problem it solves. When you define that problem ask others about it. When you receive enough feedback that there is a problem and people are willing to pay for a solution, then you move forward.
Under Promise and Over Deliver
If you are solving a need this becomes easier. Too often companies enter crowded markets and over promise to separate themselves. I can’t tell you how often we see this in social media. Brands burned by the agency who promised them viral posts and x amount of likes. DSC promised dependable razors for less cost without the hassle. They delivered. They also added funny anecdotes, educational information and other cost effective products that supplement your razor. It didn’t feel like an up sell. It felt like they were solving more problems.
Dave Kerpen was on to something when he named his business Likeable Media. Millennials are the least loyal generation. Translation – if we don’t like you, we are going elsewhere. Produce open, honest and relatable content. DSC is a likeable brand with their target audience. Their audience are now their advocates. IE. This blog post. If you are B2B this doesn’t result in blog posts, it results in referral business.
Be Cost Effective
Sometimes people confuse cost effective for a cheap product. In the case of DSC, yes, $1 or even $9 is inexpensive. The important part is that it is saving people time and money. Ask a man on his deathbed if he would trade all his money for more time. The answer would mostly be yes. Time is our most precious commodity. If you can save people money and time, often times they will pay premium for your product or service.
Comment below – What brands or service do you feel great about paying for?
My name is John Zanzarella. I’m the CMO of Silverback Social and the CEO of the Westchester Digital Summit, To read more from me on Linkedin, please click the follow button above or below or feel free to connect with me and explore how we can work together. If you like to listen, subscribe to our podcast, Remarkable You on itunes to hear more from Chris Dessi and I.
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