How Peloton Went From Failing to Becoming a Billion Dollar Business Using 1 Marketing Tactic | Ep. #1330

Marketing School - Digital Marketing and Online Marketing Tips

Eric Siu and Neil Patel

Business, Marketing, Careers

4.6 • 1.4K Ratings

🗓️ 23 March 2020

⏱️ 7 minutes

🔗️ Recording | iTunes | RSS

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Summary

In episode #1330, we chat about how Peloton turned a failing model around to become a billion-dollar business, using only one marketing tactic! That's right, we are talking about pricing. If your products or services are priced to high or too low your sales can easily suffer. Tune in to hear about ways to intelligently price your offers in order to maximize sales for your company and keep growing! TIME-STAMPED SHOW NOTES: [00:25] Today’s topic: How Peloton Went from Failing to Becoming a Billion-Dollar Business Using One Marketing Tactic.[00:34] Quick information on Peloton and what the company offers.[01:09] The initial struggles that the founder of Peloton had with investors.[01:48] Too cheap or too expensive — both bad for sales.[02:39] The impact of intelligent pricing; signaling quality through the price tag.[04:17] Current prices on Peloton's products and financing options they offer.[04:50] Starting with high-end pricing and then moving down-market with cheaper items.[05:19] To stay updated with events and learn more about our mastermind, go to the Marketing School site for more information. Links Mentioned in Today’s Episode: PelotonNike Allbirds Patrick Campbell Price IntelligentlyProfitWell Tomasz TunguzAffirmTesla Leave Some Feedback: What should we talk about next? Please let us know in the comments below Did you enjoy this episode? If so, please leave a short review. Connect with Us: Neilpatel.com Quick Sprout Growth Everywhere Single Grain Twitter @neilpatel Twitter @ericosiu Learn more about your ad choices. Visit megaphone.fm/adchoices See omnystudio.com/listener for privacy information.

Transcript

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0:00.0	Welcome to Marketing School, the only podcast that provides daily top-level marketing tips and strategies from entrepreneurs that practice what they preach and live what they teach.
0:11.5	Let's start leveling up your marketing knowledge with
0:14.0	your instructors Neil Patel and Eric Sue.
0:19.2	All right guys before we start we got a special message from our sponsor.
0:24.0	If you want to rank higher on Google,
0:25.9	you got to look at your paid speed time.
0:28.5	The faster your website loads, the better off you are.
0:31.3	With Google's core vital update,
0:33.0	that makes it super, super important
0:34.8	to optimize your site for low time.
0:37.6	And one easy way to do it is use the host
0:40.0	that Eric and I use, Dreamhost.
0:42.0	So just go to Dream Host or Google it.
0:44.8	Find it, check it out, and it's a great way
0:47.0	to improve your low time.
0:50.4	Welcome to another episode of Marketing School. I'm Eric Sue and I'm Neil Patel.
0:55.0	And today we are going to talk about how Peloton went from failing to becoming a
1:00.2	billion dollar business using one marking tactic. So some context real quick on what
1:05.0	Peloton is. I actually have a bike behind me and Neil has a peloton as well. Peloton
1:09.4	is it's exercise equipment that you can use from home like I have a bike and there's a screen in front of it and I can go online I can you know take classes whenever I want I can take them live sometimes and I have instructors and then Neil has a treadmill and then they have other devices coming out as well.
1:24.6	They have Peloton yoga, meditation, weightlifting too.
1:27.8	So it's just a very convenient way to exercise and they are now a publicly traded company and that is basically
	...

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