Five Marketing Lessons You Can Learn From 5 Hour Energy Drink
Editor’s Note: The following post is an excerpt from material Jim Kukral, former Managing Editor of ReveNews and author of Attention! This Book Will Make You Money, used during his keynote at Affiliate Summit East 2010. It is published here with Jim’s permission. Rumor has it the Affiliate Super Friends appeared during the keynote, that indeed is all Jim’s fault. Enjoy.
Did you know that 4.6 million bottles of 5 Hour Energy Drink are sold each week in the USA alone? According to The New York Times, Bill Pecoriello, chief executive of Consumer Edge Research, estimated that energy shot sales could reach $700 million this year, nearly double last yearâ€™s $370 million. Today, 5-Hour Energy accounts for about 80 percent of the rapidly expanding market.
The question is how did a relatively new product gain such traction with the US consumer? Here are five valuable lessons you can take away from this product and their marketing.
#1 Reason – “Energy” Is In The Product Name
I’m a huge fan of saying what you do. If you are a plumber and your name is Angel, your business name should be Angel’s Plumbing. If you are the world’s best expert at databases, then you should be calling yourself The Database Diva, not “Aviva, LLC” which was her original name. If you are an amazing resource of tax information for small businesses owners, you should be calling yourself TaxMama, not Eva Rosenberg Tax Services.
Lesson: Say What You Do
#2 Reason – It Helps You Get Energy
You’re tired,Â you’re down. You need energy. You can go and drink coffee all day long, but then your breath smells and you have to pee every five minutes. In other words, it solves problems which is what every successful product does.
Lesson: Solve Problems For Your Customer
#3 Reason – It Helps You For Five Hours
Not one hour, not 12 hours, not a half hour. Five hours. When you think about it that number is of significant importance to their marketing because people find it believable. A product with a claim that sounds outrageous, no matter how true, wonâ€™t sell. Consumers have to believe it to buy it. If it was 12 hours, nobody would buy it, they’d think it was fake or like a speed pill. If it was one hour, again, people wouldn’t buy it, they’d say “Who needs one hour of energy only?”
Five hours is exactly what you need, and want, and they know it. Need a pick me up after lunch to get you through the rest of the day? Drink 5 Hour Energy Drink. Need to hit the clubs at Midnight in Vegas and dance the night away? Drink 5 Hour Energy Drink.
Lesson: Think About What Your Customers Really Need
#4 Reason – It’s Very Portable
You can drink it in seconds. Not like a giant Monster energy drink that you have to chug-a-lug around with you all day. Not like a big coffee mug you have to carry around. You don’t feel bloated after drinking it. While all their competitors went big, five hour energy was smart enough to go small.
Lesson: Be The Alternative
#5 Reason â€“ Itâ€™s Convenient
You can stick it in your gym bag or your work backpack. You can leave it in your glove compartment or put it in your coat pocket. Since itâ€™s small, itâ€™s convenient.
Lesson: Make It Easy
Whether you are a business or a brand, or you sell a product or a service, you can learn quite a bit from 5 Hour Energy. People look for new things all the time. Are you creating them for them? Not everyone loves coffee you know.
Now is your chance to take these important lessons and work them into your own strategy. Pretty soon you might just find yourself owning the majority share of customers in your industry.