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Originally Posted On: 5 Brands We Admire – Atlas Rose – The Marketing Leadership Company (atlasroseco.com)
5 Companies to Admire and Why
Entrepreneurs love building things. Their motivations go beyond the monetary rewards. We’re fortunate in America to have a society powered by capitalism and that’s created no shortage of business success stories.
If you’re tasked with creating a great company, there are lessons to learn from those that have walked the path before you. At Atlas Rose, we’re not only a marketing leadership company, we’re keen marketing scientists that study why strategies and tactics work. In this exercise, we measured brand loyalty, customer experience, boldness, innovation, and brand consistency. Then we cited five company examples and what you can learn from them.
In a recent Experian survey, Tesla scored number one in brand loyalty among auto manufacturers. A whopping 70.7% of Tesla owners went on to purchase another Tesla after they sold their first one. Even more surprising, 74.7% of households registered a second Tesla when they already owned one.
That’s impressive and also good for business. In a COVID stricken 2020, Tesla posted a 21.4% increase in sales, while every other auto manufacturer’s sales went down.
Lesson: Strive to make raving fans. Delighted customers become brand ambassadors and become your marketing muscle. They purchase multiple times and tell their friends what a good decision they made.
There’s no better example of a company creating an experience than Disney. It started with the late Walt Disney. He was visionary, famous for not compromising on even the smallest of details. It’s why the property has Mickey Mouse branded manhole covers. He was laser-focused on making sure guests had a memorable time. A fresh popcorn scent is even dispersed on Main Street. His goal was to create an immersive experience that makes you feel like you are in another world.
Disney understood that there should be no customer interaction wasted. From hotel check-ins to riding shuttles, and even buying a refreshment, it is all infused with Disney magic.
The passion has lasted long after Disney’s passing. Even today, all employees (called cast members) are taught on their very first day that their primary goal is to “create happiness.”
Lesson: Don’t underestimate how customers FEEL when they do business with you. Every interaction matters. This includes people, processes, and technology.
Dollar Shave Club earns the nod here. Most people first heard of the company through a brilliantly produced video that went viral. The irreverent and funny “Our Blades Are F***ing Great” video was responsible for more than 12,000 orders in the first 48 hours. To date, the video has 27,275,821 views.
In 2011, the company was the first to apply a subscription business model to the shaving market. It’s a model that inspired others to try the same tactic in other industries like pet food, mattresses, and eyeglasses. As it turned out, the direct-to-consumer model worked for many overpriced items.
The video’s perfect blend of humor, effective messaging and irreverence rattled industry giant, Gillette.
The video was a resounding success and was the springboard for the sale of the company in 2016 to Unilever in a one billion dollar all-cash deal.
Lesson: Followers don’t get noticed. Take calculated risks. Weave it into your culture.
There are few companies in history that are responsible for creating entire industries. It requires a founder’s vision and resources to execute. It goes beyond just filling a niche and giving customers what they want.
These types of companies know what consumers want before they do. Take Henry Ford, for example. He is credited for creating the assembly line and had the vision to put an automobile in every driveway in America. He’s famous for the quote “If I would have asked what people wanted, they would have said faster horses.” In more modern times, Steve Jobs led one of the most innovative companies in history. His passion for functionality and style helped create Apple products that Americans touch nearly every day. While Apple certainly has competitors, it was first to market and is a big reason why Apple is the United States’ first 2 Trillion dollar company.
Lesson: Don’t stop asking “why not?” Dreamers get rewarded if they can execute.
Coca-Cola was originally invented in 1892 and the formula has remained very similar since. There was the “New Coke” concoction in 1985 that was a sweeter variety designed to compete with Pepsi. However, it was one of the most famous corporate missteps in history. Consumers hated it and the backlash was significant. It caused Coca-Cola to quickly add the old formula back on the shelves marketed as Coca-Cola Classic.
Now 129 years later, the company is still going strong and has sales worldwide. That red and white can with the distinctive font is iconic and is part of the very culture and heritage of the United States.
Building on their success, the company now has over 500 drink brands from teas, bottled water, coffees, and juices.
Lesson: Find where the “win” is and do more of that. Have a core product or service that carries the company. Build ancillary products and services around what people love.
New lessons from great companies are being taught every day. Our advice is to watch and learn to see what others are having success with. You just might be able to apply their strategies in your business and fast forward your success.