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April 16, 2020

How One Man Revolutionised the Drink Industry (And What You Can Learn From Dietrich Mateschitz’s Success)

In 1987, Australians got a chance to see what would become one of the world’s best-known drinks. Dietrich Mateschitz introduced Red Bull for the first time, and the drink now dominates its industry.

But how did it arrive at this? What did Mateschitz do that no other competitor could? Let’s take a look at some of the foundations of his success.

1.Hefty Marketing Investments

From guerrilla campaigns to huge sponsorship deals, Red Bull puts a ton of focus on marketing. And the results are clear for all to see. About 30-40% of the company’s entire revenue goes into marketing, which is how Red Bull manages to turn complete strangers into raving fans.

It’d make sense for a sales leader to take a page out of Red Bull’s playbook. Investing in marketing will put hot leads in your funnel, making it much easier to close a sale.

2.Consistent Brand Message

Whenever you think of Red Bull, you likely think of speed, strength, and adventure. This is exactly how Mateschitz wants you to see the brand. It's brand message oozes confidence, edginess, and extremism.

This doesn’t surprise anybody as Red Bull slaps its logo on everything that moves fast. From Formula One to jets, the brand is related to exactly the thing that it wants to provide – power.

Whatever you’re offering, you need to keep sending consistent messages. Otherwise, you’ll confuse your audience and they’ll go to a competitor who has a clear solution to their problem.

3.Premium Pricing

Red Bull is more expensive than pretty much all other energy and soft drinks. And yet, it’s still more popular than most of them. The drink’s premium price only adds to its success because people see more value in it.

If you’re confident that you have something that someone needs, don’t be afraid to price it accordingly. The right pricing strategy can take your bottom line to the next level.

To learn more about succeeding in sales, see if you qualify for a free training session with Frontier Performance.