Starbucks is one of the most recognized brands in the world. There is more than 3500 Starbucks outlet in the world. This all had happened because of Starbucks marketing strategies.
For sure, we are not having millions of budget in millions like Starbucks is having but we can adopt some of the Starbucks marketing strategies to expand and grow our business.
First, we will discuss the objective of Starbucks. When Starbucks came into the market in 1971 by selling coffee beans, they realized that people are not having any places other than their home and workplace hat they find comfortable and appealing.
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Then Starbucks came into the market in 1987 with an objective of ” Creating the Starbucks to be the third place, the idea of the third place was that lie between home and work”.
Here are some Starbucks marketing strategies that help them the ladder od success.
Starbucks marketing strategies
#1 thought-provoking ideas
As I told you before Starbucks came into the market with an intending to create Starbucks as the third place for every living soul.
That idea was thought to provoke and help Starbucks to reflect its intention to its customers.
Starbucks is not only selling coffees but also an experience of sitting and working in its comfortable premises.
You can also come into the market with the same object and intent that is been like by your customer.
You just need to sit one day and think of what your customer is and what are the problems they are facing and how your product or service can help them with there problem.
#2 Creating a loyalty program
Starbucks ‘ loyalty program has worked well for them. That loyalty program was the reason that pulled my second time to Starbucks.
Selling to a new customer costs three times more than selling to a new customer. Every business gets 80% of the revenue from the existing customer. So, it becomes really important to make your existing customer shop again and again from you.
Starbucks provides a lot of benefits to the customer who joins the Starbucks Rewards program. These include free refills, free drinks, birthday rewards and more. This reward program works as an incentive for the customer to make a regular visit to the shops and cafes.
You can also implement this in your business and can see better results with your existing customers.
#3 FOMO Starbucks marketing strategies
One of the most powerful triggers is fear. But did not mean to sell your product or service at gunpoint. Only use the fear of missing out or FOMO, like Starbucks is using these strategies for many years.
Like Starbucks is having Red holiday cups, these coffee are only seasonal and Starbucks launch this product every year and the sales of Starbucks go crazy during this season.
This is nothing just common human behavior, Starbucks creates a fear of losing something a coffee and that helps them a lot.
You can also create a seasonal product for your restaurant or Hotel. But make sure one thing is very important to make this strategy successful i.e advertisement. You need to make people aware of this particular product. You can contact us, for any marketing needs.
#4 Sharing good content on social media
Starbucks highly believe in their killer social media content. I am following Starbucks Instagram, Facebook, and Youtube channel because of there creative content and variety of content.
Starbucks portrays themself as a well-established brand on every social media platform. Starbucks does not follow the policy of uploading the same content on all of their social media platforms.
They are having different content whether it is Facebook, Instagram, Twitter, Linkedin or Youtube.
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One more feature that Starbucks marketing strategies have is friendly customer service on social media. By doing this Starbucks have solidified their relationship with the customers. They usually have a short and sweet conversation with the customer to make the customer experience more premium.
#5 Cause Marketing- Starbucks marketing strategies
There was a study that states people are willing to pay 40% more if the product is related to the positive social impact. Starbucks use cause marketing in a very effective way, it helps Starbucks to maintain its brand image and justify the price.
You can also get most from the cause marketing if you follow the following Starbucks
1. Select a cause you believe in
It will be better if you select the cause if it is somehow related to your business niche.
2.Reach out the NGO that works for the same cause
3. Make people realize for the cause you are working for and people will buy your product or services.
This strategy is not something that will always work wor for you, but there is nothing harm in applying this strategy.
#6 Do seasonal and festival based marketing
People eat by occasion not by demographics or psychographics. Starbucks has increased its business massively by occasion-based marketing. Whether it is New year, Thanks Giving, Christmas, you name it- you have it. Starbucks marketing strategies will never disappoint you at the festival and occasions.
Starbucks also provides a seasonal product that lasts for the whole season.
Here are some actions that you can take to follow these strategies-
1. Offer a free giveaway occasionally
You can make it a tradition to give a complimentary product with a premium product.
2. Stand out from the competition
Starbucks marketing strategies did not include only focusing on major festivals and occasions. But they also have the first day of college, the first day of winter, etc.
3.Limit product availability
You can limit the supply of products occasionally or seasonally. This will create a sense of urgency and FOMO.
4.Market your offer like crazy
The last step will be to market your product like crazy on all the platforms to make sure that your scheme has the maximum reach.
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