And why it's never too late to leave a mark on your industry despite intense competition.
As a marketing agency, we have heard pessimism amongst even the most well-performing brands when it comes to expanding into an already saturated industry or product market.
Like, water.
When it comes to branding and reinvention, no industry is too tapped (pun intended). To stand out and make a name for yourself or your product, you need a unique differentiator and a strong brand. While this seems like common sense, many brands overcomplicate their go-to-market strategy and fail to gain traction with the right audience.
To succeed in attracting new customers in an already saturated market, you can either solve an industry challenge (and solve it well) and/or find a niche market for your brand and uplevel the taste, look/feel, or target audience. In this case, Liquid Death did all of the above and they did it VERY well.
Breaking into a billion dollar a year industry and gaining shelf space at major grocery stores is no easy feat. Removing plastic from the earth and replacing it with a recycled aluminum can is unique but that wasn't the driver in-and-of itself. Calling your water, "Liquid Death" and branding it to resemble a beer can, now you're talking.
With limited releases such as Metallica themed cans, a stellar social media presence, and a killer influencer strategy, Liquid Death grew rapidly to $1.4 billion in market share pulling from known water giants like Dasani, Aquafina, Figi, and more. With their trademark slogan, "murder your thirst", it's safe to say they are slowly murdering the competition as well. While they may end up in a buy-out or a merger down the road, there are some major lessons to take away from this rapid brand expansion:
Any industry has room for growth, even water.
Social media and influencer strategy (especially on Tiktok) are critical for gaining traction with a younger audience.
Sustainability is attractive. Focusing on sustainable solutions can be a niche in itself.
Good branding is key. Creating a unique and "photo-worthy" brand is a major contributor to building a cult-like following and brand loyalty amongst a new audience.
Having a quality product. It helps that it's damn good water.
Believing in your brand and finding the right customer. Might sound simple but staying true to your brand identity and having a simple, clear, and repeatable brand is a great way to build awareness. Not doing too much and doing one thing really well is crucial for success and profitability.
If you are ready to be the next Liquid Death of your industry, let us help you leave a mark. Our brand strategy team is here to help you simplify your messaging, create knockout strategies for social, and drive results. Let us help you steal market share for your brand.
Contact us today at media@markifyme.com to get started!
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