Yeti's Marketing Strategy: Understanding your Community
The Yeti Marketing Strategy: Understanding your Community
The durable cooler and drinkware company, Yeti, started in 2006 when the Seiders brothers decided they were done wasting time, money, and energy on cheap outdoor equipment.
While in the development stage of this brand, the Yeti marketing strategy took time to develop. With a price point of $300 per cooler, the company needed to sell its product and the experience that comes with it.
Yeti created a marketing and brand strategy that would soon allow the company to be a multibillion-dollar brand and a household name.
What is a Brand Strategy?
A brand strategy encapsulates almost all of the elements that make up your company. Who, what, when, where, and why are all important questions to answer when building a brand strategy.
With your target audience in mind, think of this stage of development as creating an image and communication style to best reach your consumers.
In the case of Yeti, having a strong brand strategy and marketing plan was imperative to its success. So let's dive in and talk about the decisions Yeti made to communicate clearly with its target audience and foster a sense of reliability and trust in the brand.
Successful businesses are cemented around a mission or vision statement. Without a clear understanding of the brand's purpose, selling to consumers can be difficult. While a competitive price point or discount can encourage sales, it doesn't generate brand loyalty or trust.
In "Our Yeti Story," the brothers share their frustrations about equipment breaking or not doing its job. As avid fishermen and hunters, they know firsthand how important proper gear is in the outdoors.
The Seider brothers were very clear on their purpose: "build the cooler you'd use every day if it existed." Their products are the solution to a problem they, and many other outdoors people, face during their explorations. With a direction in mind, Yeti was able to create a product that fulfilled a need of their consumer base.
Understanding your Audience's Needs
Creating consumer profiles can offer valuable insight into understanding your customer's needs, wants, and wishes. In addition, these profiles can make entire groups of people easier to understand. After all, talking to 10 people is easier than talking to millions.
For Yeti, however, the founders were perfect matches for their target audience: middle-aged outdoorsmen who take the outdoors seriously. Because of this, they were able to have a solid understanding of their consumer profiles. The priority for this audience is not saving money on gear but getting your money's worth.
The Seiders brothers had a personal understanding of their audience and stuck to a problem-solution approach in their marketing strategy. The plan was to be direct- this is a problem we understand, and our product is the solution.
Knowing how to communicate with the target audience made the high price point of Yeti products understandable. Avid outdoors people know that having the best quality gear leads to the best quality experience, something not to be compromised on.
Tell a Story, and Make it a Good One
Telling a compelling story is one part of the marketing strategy brands cannot afford to skip. Especially in the outdoor industry, storytelling plays a huge part in generating brand loyalty and building trust with your audience.
It is important to tell a story that resonates with your customers. When they hear your story, they should stop and think, "That's me! I am- or want to be part of this community."
Yeti has perfectly woven together its mission and the needs of its audience to create a brand story that is engaging, inspiring, and relatable. Yeti's website has an entire section dedicated to stories from their customers and ambassadors' real-life outdoor experiences.
The stories shared either help the brand feel relatable to customers or inspire customers to follow in the footsteps of others. Yeti's storytelling efforts are a perfect example of a brand selling a lifestyle first, then the product.
Instead of focusing on the products being used, Yeti focuses on the lifestyles and people using their products. After all, the human experience is much more relatable and engaging than an advertisement for a cooler.
Keep it Simple and Consistent
After 15 years of success and growth, Yeti's image and mission have remained the same. As a result, customers know what to expect from the brand, which is a massive part of building brand loyalty.
Their logo, advertisements, packaging, and other consumer touch points have been kept consistent. This fosters a sense of familiarity and reflects the brand's dependability. Being consistent also makes a brand recognizable across different platforms. If your website, social media accounts, newsletters, and products match, each element of your marketing strategy will be a reminder of your brand's values and mission.
The story is simple- two outdoorsmen wanted to create outdoor gear built for the wild. That's it. The problem-solution narrative has made Yeti a go-to brand for outdoor products.
Create the Best Buying Experience
Understanding where to reach your audience is important for outdoor brands. However, there are many options of where to take your product, location matters.
In Yeti's case, the brand opted to sell its products to more local, small companies first. This decision matched the brand's values and mission by using locations for avid outdoors people. But, of course, this decision was also strategic. A small outdoors store owner is likelier to speak highly of and recommend a product they use than a non-outdoor employee at a massive retailer.
Another effort to create an engaging buying experience is the usage of ambassadors. Yeti ambassadors are avid outdoors enthusiasts promoting the brand through their adventures, whether hunting or rock climbing.
Ambassadors in the outdoor industry are huge. Using successful explorer's stories to show how the products support their lifestyle shows the audience just how good the products are while telling a compelling story. Understanding the motivations of your audience can make your sales strategy clear.
Sell More than a Product or Service
The eCommerce industry has become so crowded, making it important to create content and stories people want to hear. Consider how many promotional and social emails you receive a day. The average American receives 100 emails daily, so how does your brand ensure your message doesn't get lost in the mix?
Listen to your audience. Understanding your customers as thoroughly as possible will make creating content worthwhile for your brand.
Yeti has nailed the storytelling and creates content people want to see. The company's youtube channel has 140k subscribers and thousands of views on each video. The brand story has created a community the target audience members want to be a part of.
Creating a compelling marketing strategy for your brand requires a deep understanding of your company's mission and your target audience's values. Then, find the best way to share your story while promoting your products and services. Part of selling your brand is also selling things not product-related, like community, experience, and brand trust.
If you are looking for a new marketing strategy to increase your brand loyalty and awareness, check out the Yeti marketing strategy to see how the pros do it.
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At Algofy Outdoors we partner with amazing outdoor brands to provide 360° digital marketing solutions.