According to Entrepreneur Network partner Eric Siu, “A company that has gone public, is a company that is really good.” Peloton is now the leading exercise equipment and media company. They sell different workout equipment like Peloton bikes, treadmills, they also offer meditation classes and weight training. One thing that makes them interesting is that they're gamified in a way that you are constantly competing with yourself, with people in the room, or you can compete with your friends. But how did Peloton climb up the success ladder through their marketing strategy? Take a look at the strong points below!
- Use Videos.
Because Peloton’s marketing strategy is on a digital perspective, they are using videos of people in action showing how their equipment should be used and the different workouts that could be done. This is a genius idea because they’re promoting a product that is way beyond the product itself. With Peloton bikes and treadmills, you should also be selling the features, functions, and its uses. It would be very helpful for your homepage visitors if they would get a glimpse of what your business is all about. - Use crystal clear headlines.
“Game-changing cardio comes home”. When you open Peloton’s homepage, you’d get to read this headline which is very catchy and direct. We couldn’t stress enough how important a good headline is, so let’s remember it always through David Ogilvy’s words "When you have written your headline, you have spent eighty cents out of your dollar”, so make it count! - Include necessary information on your website.
Most would agree that customer reviews are an essential formula to building customer trust and confidence on the products and on the company in general. Peloton is making a really good use of its homepage by providing their website visitors with reliable customer reviews. At the right bottom, they have a live chat connected to their support center, and a space provided where you can drop your email if you want them to send you updates. Also, they make really good use of their footer space, including their social media accounts on the information list. - Provide answers to possible customer questions before they even think about it.
That’s like taking away customer worries right there and then when you include price range, payment modes, other purchase offers. Put yourself in the shoes of your customers --- what do you want to know or what would your concerns be? - Invest on appropriate paid media.
As per Peloton, its top paid media are Youtube and Google. Youtube, their highest paid media with over $1 million in expenses which is reasonable enough since Peleton is more on visual advertising with all the videos, considering that products like these need product education and Youtube is the best platform for it. Google with $669,000 in spending is probably correct for most parts because Google is the go to search engine of most people.
