Every week we will take a deep dive into a business and share with you some of their marketing & business strategies that helped these businesses scale.
In Episode 20, we dissect into HIMS business & marketing strategy – The company launched in 2017 by Andrew Dudum as a men’s wellness brand that provides inexpensive, discreet and well-marketed OTC and prescription medications for traditionally “embarrassing ” conditions such as hair loss and getting boners (aka Erectile Dysfunction). At launch, they sold over $1mil in revenue and currently the business is valued over a billion dollars. Matt & I dive into some of their monstrous marketing & business tactics that helped them grow.
Listen to our full podcast on: iTunes
Timestamps:
02:33 – Look for changes in regulations or environment to create a new opportunity. When HIMS started their company, there was a change in telehealth laws which prompted HIMS to create a product that can be purchased through the internet.
05:50 – THE LAW OF NEW CATEGORY. HIMs created a product that already existed and remarketed it across a new audience — the Millennials.
07:15 – Use a Subscription Model to double or triple your valuation
11:11 – Use Models or Actresses that relate to your brand’s audience
13:25 – TRADITIONAL MARKETING ISN’T DEAD.
17:14 – Leverage Facebook Brand manager to find content creators. HIM’s creates project briefs using Facebook Brand Manager to seek other content creators which ultimately become user’s that review your product. You can leverage this platform to promote your product being used by other users.
ABOUT MATT SKOPAK:
An adventure and fitness addict with a passion for entrepreneurship and numbers. Lead Investor in Sweetberry Bowls and CFO of Sugar & Kush CBD. Rutgers MBA 2020 in Entrepreneurship & Accounting
ABOUT SEAN AZARI:
In 2015, Sean launched a creative ad agency called Breakthrough Social specializing in content creation & distribution, marketing campaigns, & paid media that helped brands build awareness and drive sales. Prior to starting his agency, Sean worked in finance for 4 years as an Investment Banking Analyst at Credit Suisse & studied Mathematics & Statistics at Rutgers University.
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