Kylie Jenner, the youngest of the Kardashian/Jenner clan, is following in the entrepreneurial footprints of her older sisters. The Kylie Lip Kits (which retail for $29) have earned her an estimated $10 million this year! And while you can say that a lot of that comes from her fame, she’s also employed a killer marketing strategy to help her get those sales!
Before the launch of her first pop-up store, people camped in the parking lot overnight to be first in the queue in the morning. When the lip kits are restocked or launched on her website they sell out within minutes. While other celebrities don’t get that kind of sales on their products (perfumes etc) Kylie’s use of a technique called ‘the drop’ is the reason for this boost.
What is the drop?
The drop is quite genius and can be used if a seller already has a growing audience or interest in a product. The product is in limited supply which means they’re exclusive, like Kylie’s lip kits, and they’re only released in limited quantities, meaning they’re more exclusive, exciting and have a better buzz around them!
Marketing is vital
A hype needs to be built around the impending release of the product in order to build demand. The products need to sell out for the strategy to be effective. Which is why you always see Kylie’s products with elements of gold, and her social media strategies are genius. Kylie also created a video to launch her products and reinforce this idea of luxury and exclusivity, and her branding is especially well-done.
There are a lot of lessons we can learn from Kylie’s marketing technique.
It helps that her social media accounts are some of the most followed in the world, in fact, she is the most followed account on Snapchat ever, meaning she has a huge platform in which to build demand. But it works for the average blogger/web owner too, often people say find your audience before you sell to them, and using the drop might just be a great way to create an income.
Her video clips applying lipstick or giving a tutorial garner so much hype that they regularly make the news, so when a new product release comes around, her audience is buzzed, excited, and ready to buy.
It works for one particular generation
Kylie’s strategy has worked so well because her audience is predominantly young women – Generation Z and Generation X, who are completely at home with technology, and for whom social media is part of life.
So, if you want to try to sell a product in 2017, keep ‘the drop’ in mind and take a few notes from Kylie’s success story!
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