Introduction
Many of you know about Boat company and many of you have bought and used their product. They are India’s number one earwear brand. Not only that, but they are also the second largest earwear brand in the world. They have done all this within 6 years of starting the company. How did they do it? We are going to see their success story in detail in this post.
Startup Story of Boat
Aman Gupta and Sameer Mehta are the founders of BOAT Company. If you have seen the charging cables of Apple iPhone, it will not last long and it will cut quickly. Many iPhone users base face this problem. So they introduced a new kind of charging cable to avoid that kind of problem. A lot of people had this problem because all the stocks were gone within a few weeks of it being introduced. All the things I mentioned happened in 2016. Aman Gupta notes an important trend in that year and he understands that a great opportunity is coming. That is, Apple launched its wireless AirPods in 2016. It is very stylish to look at and many young people think that we also want a device like this.
his was going on in 2016 when Mukesh Ambani launched his Jio 4G. What the company says is the initial offer is free data. Indians who did not use much mobile data till then started using mobile data more. People who used to use their mobile phones for only two hours a day started using it for 8 hours.
Growth Phase of Boat Company
At the same time, another important thing happens which is first of all when we buy a mobile phone they give us a free headset along with it. A lot of smartphone companies have said that they are going to stop giving free headsets as they are generating a lot of e-waste. So Aman Gupta predicts that Wearable devices are creating a lot of demand now. Apart from that Aman Gupta also had prior experience in that field so he started a Boat company along with Sameer Mehta. When Boat Company was launched in India they had many competitors like JBL, B&W, Sony, etc. Brands like JBL and Apple Bose were premium brands and Their starting price was ten thousand.
Next to them were brands like Skull Candy. Next to them in the budget-friendly category were brands like Noise and Mivi. The boat has targeted the budget-friendly category. Why they chose this category because their brand should be more affordable and should be bought by everyone. The boat did a lot of marketing to make their brand stand out from competitors. Indians generally follow two kinds of things obsessively. One is cricket and the other is cinema so the Boat company hired cricketers and Cinema Actors as their brand ambassadors.
Attractive Marketing Strategies
A lot of marketing stuff like this has made Boat company very popular among the youth. Apart from that, the Boat company has done many Strategic collaborations with many brands. For Example Collaborated with beer company Bira which was popular among the youth and launched a limited edition headset. They also collaborated with many of the most popular independent artists in India.
On one side is the promotion to attract the youth and on the other side is their pricing i.e. a product in JBL product is 5000 rupees and the same product is 2000 rupees for them. They have very affordable pricing. Beyond all these pricing and marketing statuses, they did one thing that no one else had done before: they created a community. They called the customers who were using the Boat product as Boat heads. They held many events online and offline to engage the people in this Boathead community.
What happens when they do all this is usually create brand loyalty. What happens when a community like this is built is that if they release a new product customers will buy it from them. Not only that, but they will also recommend it to their friends. The boat is now positioning itself not only as a Wearable company but also as a lifestyle brand. They want their products to be used not just for listening to music and watching videos but also as fashion accessories. They are going to launch a lot of products using IoT technology in the future.
Conclusion
The total revenue of the Boat company in the financial year 2022 alone is around 3,000 crores. The most important thing is that the boat is a profitable start-up. Profitable startups in India can be counted on fingers. The boat holds an important place in it. Today the boat company is worth about half a billion dollars. India’s number one audible brand is Boat, moreover, the world’s second audible brand is also Boat.
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