For some entrepreneurs, business is not just about profits, but it is also about generating unmatched experiences and value for the consumers. These businesses start their voyage with the focus to solve a problem and give the customers what no one else can provide.
In 2016, the Wakefit.co brand already grasps 40% of the distribution in the premium, cheap mattresses category and has been growing around 2X in earnings every year.
One of the co-founders had initially been working with a German multinational and had a good understanding of foams and their complexity, so he understand that there was a huge gap in the pricing of all premium mattresses in the market and what would possibly be pricing any brand in making them.
The brand was started as a digital D2C -led company with consumer interest at the core and with its abnormal products became a huge success. Ramalingegowda proudly boasts, “We made Rs 9 crores in incomes in the first year itself, next year it was 27 crores, 81 crores, and 199 crores, respectively. Just last year, we banged in 415 crores on the back of our cosmic products.
Our main focus has continued delivering good quality products at cheap prices to permit the Indian middle class to have beautiful, appealing, and ergonomically-designed homes. They should not be settling for low-quality mattresses just because all the brands are very costly.”
Convoluting more on the marketing strategy that they run with, Ramalingegowda highlights that they always wanted to keep the content as the hero of any promotions. “If a consumer is giving us the entitlement of their time, we must be able to add value in their lives with our pleased.
So, in all our promotions, you would see the brand taking a backward action and the content being the hero. If the consumer feels that we controlled to delight them while teaching something new or adding some value, then they will share the struggle.”
He concludes the discussion by being involved in the key pillars that define their marketing policies which include the purpose and thought processes of the leadership, the voice of the consumers in the forms of feedback and reference, and the originality of the Promotions.
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