Companies are using education as a tool to attract customers.
The continuous decline in the effectiveness of traditional marketing has given birth to many new marketing strategies.
Companies are spending their time and budget on other strategies they believe are presently the most effective. One of them is Education-based marketing.
The motivation behind Education-based marketing is to build trust with consumers by showing an interest in their intellectual betterment.
Consumers won’t buy from a company they don’t trust.
Companies know this, which is why they are using Education-based marketing as a way to show consumers that they have their best interests at heart.
They do this by sharing valuable knowledge for free and in some cases provide some sort of certification.
This strategy is working very well for a few notable brands. In this article, we look at how they applied it and how it’s working for them.
Here are 3 Brands Using Education-based Marketing:
In 2015, Digital Asset Management company Widen started an online training center called Widen University to help their customers launch, refine, and optimize their systems and, eventually, earn a certification in Digital Asset Management.
Through this initiative, Widen has been able to achieve an impressive customer retention rate of 96% and also increased their Net Promoter score from 37 in 2014 to 56 in 2017 which means now, more customers are likely to recommend Widen to others.
“Widen’s consistent delivery of high-quality educational content builds trust and respect, and creates an affiliation deeper than simply using a tool from a software vendor,” says Jake Athey, vice president of marketing at the company.Widen, HubSpot and Mint are using Education as a #Marketing StrategyClick To Tweet
HubSpot is another company using Education-based marketing. As marketers, we’ve all come across HubSpot one way or the other.
Even though you may not have used any of their tools yet, you certainly have read a piece of content they’ve created.
This is how HubSpot has grown into the marketing powerhouse they are today.
One of their educational resources that stands out is the HubSpot Academy. HubSpot provides marketing tools, training videos, tests, and certification at a zero cost with HubSpot Academy.
More than 60,000 students receive certifications annually. You can be sure a lot of these students will go on to become paid customers of HubSpot in the near future.
Right from launch, personal finance app Mint has been known for valuable content.
When Mint launched in September of 2007, the team needed a cheap way to get their product out there. Mint resorted to producing valuable content around various finance topics.
This catapulted Mint to 1 million users in just 2 years and consequently sold to Intuit for $170M.
Fast forward to today, Mint has over 20 million users and still putting out great content that educates users on how to better manage their finances.