Home Goods Competitive Landscape (1)
Blu Dot and Casper both use their social media accounts to market their products and reach their audiences. Below are details about these companies' target audiences, competitive advantages, and marketing strategies.
- Blu Dot provides items to customers who are looking for useful, affordable, and desirable products.
- Its target audiences are those who are looking for home and office products such as sofas, benches, storage, rugs, lightings, beds, mattresses, bedding, chairs, dining tables, and accessories.
- They also offer products for kids and items for outdoor use.
- The company stood out when they received the 2018 National Design Award for Product Design by Cooper Hewitt, Smithsonian Design Museum for its collection of modern pieces.
- The award received by Blu Dot helped them reach bigger audiences.
- Another advantage is that the company reached customers outside the US. While they have seven locations in the US, Blu Dot also has two locations in Mexico and one in Sydney, Australia.
- The company provides furniture for Starbucks and WeWork co-working spaces. These may help to make more opportunities, take advantage of great deals, and make more business.
- One of the marketing strategies of the company is using social media. The company uses social networking platforms such as Facebook, Instagram, Twitter, and Pinterest. These platforms help them reach and connect to their customers or potential buyers.
- In their social accounts, like Facebook, the company posts its events and updates such as annual sales and showcase their products and promotions.
- They also have a LinkedIn account with 4,490 followers. It helps them reach a large audience and a great place to convey their entrepreneurial journey.
- In 2019, one of their marketing efforts is giving away a 1972 El Camino loaded with their products. Anyone could participate in the contest which results in reaching more audiences. The winner got an unconventional classic car worth $13,000. This is to promote their products in a larger scope of audience since anyone can join the promo.
- Casper's target audiences are the customers who are looking for sleep products such as mattresses, pillows, bed frames, and beddings.
- Its products are not just intended for humans but also for animals as they also target customers with pets, specifically dogs.
- The product named Glow Light also offers its customers selections for bedroom lighting.
- They have offers such as a 100-night trial, free shipping, free returns, and a 10-year limited warranty. These results in attracting more customers compared to their competitors.
- Aside from their sleep shops, Casper has retail partners. They partner with Target, as well as Raymour and Flanigan which helps bring their products to more than 1,000 stores in the US.
- Casper also stands out from different companies and networks. According to CNBC, Casper is one of the 2019 CNBC Disruptor 50. Bloomberg said that the company is "The world's first end-to-end sleep company." Casper is also named as one of the most innovative companies by Fast Company. This recognition and acknowledgments made an advantage to reach more audiences.
- One of the strategies used by the company is utilizing their social media accounts like Facebook, Twitter, Instagram, Pinterest, LinkedIn, and YouTube. Social media is a big help for Casper in reaching their audiences and build conversion and brand awareness.
- With a tagline of "Earn money while changing the world of sleep", Casper provides its audience with an affiliate program. The earnings will depend on how much the customer sells. As a consequence, these affiliates will help the company assist in reaching more audience and growth.
- Casper creates video tutorials about its products which are posted on their YouTube channel. Since many people head to YouTube for learnings, it makes a positive result for Casper's marketing effort in targeting their customers and potential buyers to have more knowledge about their product.