Starting a company is easy if you have the right amount of money, but making that company grow is the hard part. Successfully getting your name out there and offering the best services at the same time is a combination that countless companies attempt to do, but only a handful are able to do that.
Some of the companies that have become staples of your everyday life got that way because of their innovative growth strategies. Here’s a look at five of those corporations that went outside the box to become massive in size and revenue.
When it started, Facebook was only for people who attended Harvard and eventually branched out to anybody with a verified college email address. Mark Zuckerberg knew that only a finite number of people could sign up for Facebook, and it sort of made Facebook an “exclusive” club that not everybody could get into.
After opening up Facebook to the public, Facebook took off like a rocket because of the floodgates of people who wanted to join. Afterward, Facebook began coming up with a new strategy for advertising that made the business one of the largest tech companies in the world. Once it reached a massive size, Facebook focused on growing with the Metaverse, while also acquiring messenger and photo apps to help bolster its services.
Jeff Bezos started Amazon as an online bookstore back in the 1990s, but things have changed tremendously since then. Now, Amazon is a one-stop shop for anything that you can think of, and delivery comes in an instant. There have been a lot of ways in which Amazon has grown, including cutting down on shipping costs through some masterful logistics that have made using the website more appealing to the public.
With the expansion of Amazon, the company began adding more services including Amazon Web Services, which has helped Amazon power the internet for a lot of the largest companies in the world. Bezos has even acquired businesses such as Whole Foods and Twitch to expand the company’s reach. Being able to master the art of shipping is what has really set Amazon apart, though.
3. Dollar Shave Club
One of the best ways that you can grow your business is through a tremendous marketing strategy, and few companies have shown how to do more with less than Dollar Shave Club. The company introduced interesting and hilarious advertisements to catch attention. The prices for Dollar Shave Club were already among the best, but they just needed eyes on the product.
Their marketing campaign went viral on the internet and once people were introduced to the website, it was an easy decision to use them for razor blades and other grooming services. The number of viral videos that Dollar Shave Club successfully created made their marketing budget really cheap, and the revenues that came in, as a result, were almost entirely profitable.
4. Red Bull
In terms of energy drinks, there are a ton of different brands to select from, but Red Bull tends to be the first one that comes to mind. Red Bull isn’t just a company, it’s an entire institution to the point where if you didn’t know they were an energy drink company, you probably wouldn’t know what they sell. Red Bull was able to grow tremendously during the 1990s and 2000s by handing out their product using young women in highly-branded vehicles and have put their name on everything since.
Red Bull sponsors just about everything under the sun these days. They want to make incredibly sure that the first image that comes to mind with energy drinks is the Red Bull logo. As a result, the company has a market share of around 40 percent, with revenues of over 8 billion Euros per year.
Just like energy drinks, there are a lot of music streaming services, and many of them are aimed at the younger generation. While many large companies like Apple, Google, and Amazon have all gotten into the streaming business, Spotify still stands out at the top. Not only is it user-friendly, but the algorithm makes it much better for new people to use.
Once Spotify was able to impress people with its suggestions, it was able to convert those that had gotten a free subscription into lifetime listeners. Spotify has the system perfected while other billion-dollar companies are still trying to figure it out.