Invest to Spend on Building the Brand
Posted: Thu Dec 12, 2024 10:20 am
It has more than 700 thousand clients and almost 7 thousand educational institutions, including 90% of the top 200 universities in the United States.
In 2016, its revenue grew by 300% , leading Zoom to build offices in San Jose, Santa Barbara, Denver, Kansas City, Sydney and London, giving jobs to more than 600 people.
It has experienced such hypergrowth that it has joined other companies such as Slack and Mailchimp, and today its value has extended to more than a million dollars.
There are three keys to Zoom's huge growth:
Be 100% Customer Oriented
From day one, Zoom has focused on delivering solutions and customer satisfaction by creating video communication tools that truly work.
If you add up the years of experience of their engineering team, that's about a thousand years, so you can imagine that it's in their DNA to be responsive to customer requests.
Create a Product That Virtually Sells Itself
In a market full of video conferencing apps, Zoom's solution was simple: build the best product possible.
To do this, they found the first key: they were 100% customer-oriented, so they dedicated a large part of their time to listening to them and adapting to their needs.
By gathering customer feedback, Zoom was able to make the best product in its industry.
On the other hand, Zoom offers value with free video conferencing features that everyone can use for up to 40 minutes (this because the company's research showed that 40 minutes was the optimal amount of time for a video meeting).
While this time limit does not persuade customers to purchase the product, its freemium model along with word of mouth have driven customer acquisition.
As one of the Growth Marketing tactics, Zoom focused on the adventurous group usa b2b leads or users known as early adopters.
In this way they took advantage of the first good experience , because the better it was, the faster the word about the product would spread.
To reach these adventurers, Zoom's solution was to put up billboards, and in the words of its CEO, Eric Yuan:
“It’s to promote our brand. It’s hard to market a brand in a short period of time. After we had our first billboard, my neighbor told me ‘ I saw your billboard… wow, this is cool . ’ Then I said to our marketing team, ‘ Let’s have another one . ’ Soon, a lot of other people said, ‘ We saw your billboard . ’ Okay, I said ‘ let’s add a third one . ’ ”
[Tweet “Zoom is a company that applied Growth Marketing by focusing on the customer and listening to their feedback.”]
WeWork
WeWork is a coworking space that is growing like wildfire , and this company began in 2010 with a single location.
It currently has more than 500 office spaces in 32 countries around the world, with approximately 100 office spaces in New York alone.
So WeWork grew from zero to $47 million annually, as freelancers and many more see the benefits every time they visit these spaces.
In 2016, its revenue grew by 300% , leading Zoom to build offices in San Jose, Santa Barbara, Denver, Kansas City, Sydney and London, giving jobs to more than 600 people.
It has experienced such hypergrowth that it has joined other companies such as Slack and Mailchimp, and today its value has extended to more than a million dollars.
There are three keys to Zoom's huge growth:
Be 100% Customer Oriented
From day one, Zoom has focused on delivering solutions and customer satisfaction by creating video communication tools that truly work.
If you add up the years of experience of their engineering team, that's about a thousand years, so you can imagine that it's in their DNA to be responsive to customer requests.
Create a Product That Virtually Sells Itself
In a market full of video conferencing apps, Zoom's solution was simple: build the best product possible.
To do this, they found the first key: they were 100% customer-oriented, so they dedicated a large part of their time to listening to them and adapting to their needs.
By gathering customer feedback, Zoom was able to make the best product in its industry.
On the other hand, Zoom offers value with free video conferencing features that everyone can use for up to 40 minutes (this because the company's research showed that 40 minutes was the optimal amount of time for a video meeting).
While this time limit does not persuade customers to purchase the product, its freemium model along with word of mouth have driven customer acquisition.
As one of the Growth Marketing tactics, Zoom focused on the adventurous group usa b2b leads or users known as early adopters.
In this way they took advantage of the first good experience , because the better it was, the faster the word about the product would spread.
To reach these adventurers, Zoom's solution was to put up billboards, and in the words of its CEO, Eric Yuan:
“It’s to promote our brand. It’s hard to market a brand in a short period of time. After we had our first billboard, my neighbor told me ‘ I saw your billboard… wow, this is cool . ’ Then I said to our marketing team, ‘ Let’s have another one . ’ Soon, a lot of other people said, ‘ We saw your billboard . ’ Okay, I said ‘ let’s add a third one . ’ ”
[Tweet “Zoom is a company that applied Growth Marketing by focusing on the customer and listening to their feedback.”]
WeWork
WeWork is a coworking space that is growing like wildfire , and this company began in 2010 with a single location.
It currently has more than 500 office spaces in 32 countries around the world, with approximately 100 office spaces in New York alone.
So WeWork grew from zero to $47 million annually, as freelancers and many more see the benefits every time they visit these spaces.