The sky is the limit. Or, is it?
Today, let’s talk about a great example of using a marketing strategy to influence your target audience.
It was a still October morning and 38 Kilometres above the earth’s surface sits a man, in a capsule, suspended under a single silver balloon. The capsule slides open, the man steps to its threshold. Now, the only thing that separates him from what seems in the moment an infinite distance, is the high-tech pressure suit that protects him from the elements.
9.5 million people have tuned in to the YouTube live stream, a new world record broke, watching with bated breath as he peers over the precipice. After a moment of silence, the man leans forward and begins plummeting towards Earth. In the span of 4 minutes and 20 seconds he will break 3 more world records; Highest jump, fastest speed, and longest time in freefall achieved by any human without vehicular power. The man, an Austrian by the name of Felix Baumgartner, will land safely, and he will be ecstatic, rejoicing with everyone who came together to make this dream a reality. This is their day.
The power of an influential marketing strategy
Now, cast your mind back to the capsule that would hang motionless while Felix fell. Almost totally unadorned, save one logo with three words underneath it. Red Bull Stratos.
People around the world heard about this leap forward for humanity. This symbol of freedom, the pursuit of the extreme, and everyone knew Red Bull had made it happen. However, a lot of them won’t remember the year it happened, or Felix Baumgartner’s name, although they should. They WILL remember that Red Bull made it happen.
I’ve wanted to talk about Red Bull for a long time now. Every marketer has their favourite brand. As an adrenaline junkie, I love what Red Bull represents. When it comes to developing a marketing strategy to influence your target market, I see the brand as the metaphysical ideal form for which to strive. So, what better time to talk about Red Bull than during our series on Marketing Strategy?
If you read our last blog The Essentials for a great marketing strategy, you know the core tenets of a good marketing strategy. Here are two ways in which the Red Bull Stratos project embodies these ideals.
1. Red Bull Knows How to Develop a Marketing Strategy to Influence
Remember how I said you can only influence your external environment, never control it? That doesn’t mean you can’t wield a very powerful sphere of influence. When Red Bull went big with the Stratos project, a project that defied our conceptions of what is possible for a human to achieve, there was no doubt of the massive breadth of the event’s coverage, or the awe it inspired. Red Bull had all eyes on them, and no one had a bad thing to say. This is the dream in designing a marketing strategy to influence your external environment, because it raises the perceived value of your brand.
2. Red Bull Knows How to Hit Their Target Audience
The young and the reckless may not have deep pockets, but they’ve got enough cash for a can of Red Bull. Red Bull makes no secret of the fact that their main target demographic is aspirational, thrill-seeking 18–35-year-old males, and every aspect of their marketing strategy is in line with this goal. From the design of their products (lightweight, compact and eye-catching) to their effects (energy-giving), to what they sponsor (extreme sports events), everything that Red Bull does conveys that it is the brand of pushing yourself to the limit.
Ok, Olivetree Marketing, How does this help me?
You may not have 330 million dollars to spend on increasing your small business’ sales by 7%, but that’s ok. Good marketing strategy is defined by being an efficient application of your available resources. You will still able to develop a brilliant marketing strategy to influence your target audience with much less budget.
What I want you to understand, is that everything in your marketing strategy must be done with purpose and drive. No half measures, no shots in the dark. So, when you implement your strategy, make sure that every variable is considered, and every opportunity capitalised upon.
Want to make sure you’re getting it right? Get in touch with us.