Despite projections of recessionary times, tight budgets, and high unemployment, the last three months have resulted in an upsurge of learning and self-improvement products. Julie Hansen, the U.S. CEO of the language learning app Babbel, joined us to talk about the unexpected surge in her brand, as well as other brands such as Peloton and MasterClass.
Julie credits the success Babbel has seen to providing its users (including Julie who is learning German during quarantine) with immediate satisfaction including walking away from each lesson with new words and phrases. With travel becoming obsolete, Babbel was forced to quickly shift their creative messaging to learning and self-improvement,resulting in demand surges. Julie concludes that the elevated importance of self-care will prompt users to capitalize on their time and invest in themselves.
Whether you’re looking to learn a new language, or eager to pursue creative new strategies for growth, these insights will help you increase your market share and take advantage of recent trends.
The Fast Five
After each episode of Simulmedia Live, we pick out the five most informative minutes of the whole live stream. That way, if you’ve missed the show, you can still catch the most quote-worthy highlights.
And now, here are The Fast Five.
1. Rolling out a new creative strategy is essential for continued success.
During uncertain times, innovative ways to advertise your products can spur growth in unexpected ways. As we’ve surmised, previous inclinations on which networks to broadcast on or which consumers to target may shift. Embracing these shifts can prove remarkable.
2. Expect the unexpected in consumer behavior.
Consumers are no longer “too busy” to find time to take advantage of the numerous self-improvement learning sources like Babbel. Julie concludes that such unprecedented behaviors can yield remarkable success, as long as your message is in front of the right people.
3. Introduce your product intentionally to grow your market share.
Julie mentions how planning ahead can help you take advantage of lower media rates, especially in times like now when rates are low and the opportunity to gain market share is high.
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