2020 changed our lives (and businesses) forever. And 2022 took notes!
Apparently so did Peloton.
On June 14th, we woke up the news of housing prices, rising gas prices and National Nude Day. The headlines …
CNN: “See ‘Law & Order’ star’s nude Peloton commercial”
NY Daily News: “Christopher Meloni ditches clothes in new Peloton ad”
As a consumer, the commercial had me literally laughing out loud.
But as a marketing nerd, the left side of my brain went into overdrive.
To the naked eye (see what I did there) it’s a cute ad. But what Peloton did here was absolutely brilliant.
I’ll bet my candle collection someone did a SWOT (Strengths, Weaknesses, Opportunities, Threats) Analysis. But it’s what we do when the Weaknesses and Threats demand change that separates the men from the boys!
Peloton, at 10 years old, is a relatively new company And they’ve had more thrown at them than seasoned companies have gone through in 40 years! You’ve been through it too…Pandemic. Inflation. Recession. New social networks. Changing algorithms.
Imagine your company…
1. Releases a commercial that is labeled sexist!
An ad of a woman receiving a Peloton as Christmas gift from her husband was labeled sexist and left customers poking fun at them.
2. Has a product recall by safety commission
Sales of the equipment rose during the pandemic and about a year later the Safety Commission issued an urgent warning because small children and an animal were injured under the machine and one child died. They waited weeks to address the crises and issue a recall. PR nightmare
3. There’s a supposed “heart attack” link to your product:
Two TV shows, Billions, and Sex And The City, both had characters suffer fictional heart attacks related to riding Peloton spin bikes causing a bit a brand crisis. Peloton was forced to issue a statement in defense of its sports equipment and on-demand fitness classes.
4. Now struggling to maintain growth
because people who bought equipment because they were forced out of the gym due to the pandemic are returning now that gyms have reopened.
(and that isn’t even all of it)
What do you do?
Plow forward as if nothing’s happened burying your head in the sand using the same marketing strategy?
Nope!
You Reassess. Readjust. Reposition.
What we saw last week is the result of a carefully planned and strategic marketing campaign hatched back in May when Peloton unveiled new brand positioning, new campaign, and first-ever tagline.
Bravo!
What is brand positioning, anyway? And why should you care?
It’s about changing perception in customers’ minds about your brand AND it helps you differentiate yourself for your competitors. increase brand awareness, communicate value, and justify pricing.
- explains to your target audience why you are the best company for them
- sets your services apart so customers know why they choose you over your competitors
- helps you justify your pricing strategy by communicating your value
Let’s break it down:
Brand position statement
2012 : enable fitness enthusiasts to replicate the boutique studio experience at home
2022: elevate the role of motivation in helping people love fitness, stick with it, and ultimately live better. They are now focused on being the most motivating brand in the world. If you notice, although there was equipment in the background, Chris Meloni never used it.
Target Market
The choice of Christopher Meloni as their motivator was no accident.
Peloton’s demographic: ages 25-34 make up 29% of users, and ages 35-44 make up 37% of users
Law & Order’s demographic: finishing first and second in adults 18-34 and adults 25-54
What you saw was more than a clever ad.
It was a Masterclass in Marketing & Branding!
- Acknowledge you have slower than expected sales, lead generation or conversions
- Drag out that old business plan, brand guide and marketing strategies
- Decide if your business and brand can withstand doing business as usual
- Research and understand who your target customer is and what motivates and matters to them
- Be bold, fearless and innovative as you refresh your brand messaging, marketing tactics or website
- Design a marketing campaign that communicates your new brand position and messaging
Branding, like most other marketing strategies, needs to be regularly audited and updated.
If something isn’t working in your business don’t just redo your website, launch a marketing campaign or run some ads using an old strategy. That’s like giving someone a gift they reject, changing the wrapping paper and putting a new bow on it. If you can’t get customers to convert before, they won’t convert now
If you’re ready to dive into how you can refresh your messaging to connect with the right audience, let’s talk.
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