I hate buying razors, and it seems like I’m always on my last dull one. So when my wife asked me for birthday gift ideas this year, I asked for a “Dollar Shave Club” membership.
This introductory video went viral when it first came out in early 2012, and many people got a good laugh. I thought it was an interesting subscription service. Michael Dubin and his Dollar Shave Club turned a boring product (razors) with an old business model into something new - something actually convenient, affordable and even entertaining. The company targeted a specific market (men) with a new delivery method and an all-new brand to make purchasing razors fun again.
Too many credit unions and banks offer the same commoditized products, to the same audience, with the same delivery method. The Dollar Shave Club is proving that brand differentiation can set you apart, significantly changing market perception of your products and services. A razor is nothing new, yet the Dollar Shave Club has been able to make the product look new and exciting by changing the conversation and the delivery channel. With a clear strategy and understanding of the market, the Dollar Shave Club's attention to branding is what makes this possible.
So is your brand good enough? Because, as Michael Dubin says, this brand is "f***ing great."