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In Episode 30, we dissect SPANX’s business & marketing strategy –
Sara Blakely launched Spanx in 2000 with just $5,000 starting capital. It was originally a women’s lingerie company that focused on creating comfortable pantyhose and other underwear for women, but in 2010 it started to expand in the male market as well. In 2012, she became the world’s youngest female self-made billionaire. We dove into some of Sara’s marketing practices so that you can apply them to your DTC brand
Timestamps
- 01:26 Quick story behind SPANX & how it originated
- 02:50 Create a memorable name: How Spanx chose its name & why
- 05:39 Does your product solve a problem?
- 09:32 Execute a cross-promotional strategy. Learn how Sara Blakely leverages her personal brand to promote Spanx
- 11:02 Become your brands biggest ambassador
- 13:57 Execute Unconventional Strategies. Sara landed a meeting with a buyer from Neiman Marcus simply by just giving them a call. People were asking her how she was able to land a mtg so fast. Most people go to trade shows and follow the standard method in order to get things executed. Being conventional is similar to not taking risks.
- 14:50 How New Brands Create A Fake Hype Around Their Products To Generate New Sales
- 17:44 Incorporate eye-catching creatives into your ads. Spanx Highlights Their Product Key Features In Quick Ad Creatives
