In Episode 16, we dissect into Whoop’s business & marketing strategy – Whoop is a fitness tracker that was initially developed for elite athletes, to help monitor stats such as workout intensity, recovery time, and sleep performance. Now it’s accessible to everyone due to its pricing model. The band/fitness tracker is free, however, in order to use it you will need to purchase one of their offered subscription packages.
Timestamps:
3:00 Subscription Model vs Full Upfront Payment. Whoop changed their model such that they were able to make the watch more accessible (due to cost) & have a continuous revenue stream.
7:48 Whoop’s Podcast Strategy – How You Can Take Away Their Concept & Implement It Into Your Business
10:57 Offer Multiple Pricing Tiers — Tiered pricing is when you give your customers separate options for purchasing your product or service. For each separate “package,” more value is added and the price increases
15:08 Use Your Customer’s Voice (e.g. their reviews) on your creatives or captions across some of your ad sets.
15:22 Spying on your competitor’s Facebook ads.
18:32 Leverage Customer surveys After Purchasing
22:50 Don’t go nuts with the Facebook ad spend initially
