3 Lessons From The Dollar Shave Club

Posted in Business Growth, Busyness Blog, Unbusy Minute

Have you heard of the Dollar Shave Club?  I have to admit that I first heard about in a post by Seth Godin.  However, the minute that I saw the site I immediately grasped the concept and simply shook my head.  My initial thought was, "Why didn't I think of that?"  Our world is filled with craziness and clutter.  However, it is often the simple things that grab the most attention.

Kudos to the folks at the Dollar Shave Club (DSC) for grabbing my attention.  As I looked a bit closer, there are three basic things that we can learn from the DSC to create a memorable business concept:

  1. Engaging content - Solid and engaging content is what everyone wants.  Your readers, prospects and customers want solid and useful information.  Google and other search engines spend lots of money to develop, tweak and launch an algorithm that identifies and presents the most engaging and relevant content to the user.  Check out the engagement of the short, 90-second video on the DSC homepage and flip through some additional pages on their site.  You tell me... are you engaged?
  2. Valuable offer - An offer that provides tangible value is one of the most important elements when it comes to building a memorable and powerful business strategy.  Without a valuable and compelling offer for your products and/or services, your business will likely sputter and fade.  I just purchased 14 razor blades a few days ago for $42.  Assuming I make this purchase 3 times per year, my annual cost is $126 for 42 blades.  With the $6 per month plan at DSC, I'll spend a grand total of $72 over the next year and receive 48 razor blades (shipped to my doorstep for free).
  3. Simple model - It took me less than two minutes to figure out the business model and value that the Dollar Shave Club was offering to me.  Actually, it took me 94 seconds (the length of the introductory video that you need to watch now).  The more simple and understandable that you can make your business model, the less of a chance there is that a potential customer will walk away without making a purchase.

The DSC clearly hits on all three of these points.  What do you think?  Visit the Dollar Shave Club site right now and let me know your thoughts by adding a comment below.

  • Darryl Stewart

    I loved this video.  It inspired us to do something fun at our company to promote our new product.  We went way over the top compared to what we would have done otherwise.  We would have done a typical corporate video, instead we did this.
    http://youtu.be/WXXdjjMESEs

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