There are some brands that provide world-class products and services to their customers and these brands can almost run their business without spending money on advertising. These brands include Tesla, Rolls Royce, Zerodha, Zara, and Ferrero Rocher.
These brands had made something different to make people talk about their company. Studies have shown news story has a far more significant impact on building trust without spending money on advertising. Building a story behind these brands is the only way to sustain themselves in a competitive environment.
Tesla
Tesla design and manufacture Electric Vehicle it is one of the renowned brands that do not spend money on marketing. According to its founder Elon Musk, “Tesla doesn’t spend its money on endorsing any celebrity or using boring advertising technique of continuously highlighting to buy the products” instead of its Tesla invest money in innovation. Tesla is so cool in their innovation that it attracts new customers and retains its old customers.
For every car sold, this is what these brands spend on their marketing:
Tesla-$0
Chrysler-$664
GM-$394
Toyota-$454
Ford-$468
For every car sold, this is what brand spends money on research and development per car they sell:
Tesla-$2,984
Chrysler-$784
GM-$878
Toyota-$1,036
Ford-$1,186
Rolls Royce
Rolls Royce, a British luxury car and a decade-older brand was established in the year 1904 this brand became so successful that it doesn’t spend money on advertising instead they spend money on customer demand and tries to make products more luxurious. The reason why the company is doing so well without spending its money on advertising is its well-off customer base.
Zara
Zara is a well-known Spanish fashion retailer in which you will not see a single billboard or advertising instead they spend their money on the latest technology, and brand experience in the fashion industry and implement it in their business. In a cutthroat competition where every brand is doing aggressive marketing and spending billions of dollars, Zara is working on their exclusivity marketing strategy and creating a place for their customer to be an excellent spot in society.
Zara has adopted a modern strategy of 4Es – Experience, Evangelism, Exchange, every place is a new place. Zara mainly focuses on its product, pricing, and location as opposed to advertising.
Zerodha
Zerodha is a well-known Indian brand that is a stock trading company founded in the year 2010. Zerodha is different from its competitors rather than spending its money on advertising they spend on customer experience, and one of the main reasons is when it comes to stock trading many customers don’t make impulse purchase Zerodha understands this problem and they start focusing on word of mouth marketing. Most of the users of Zerodha are recommended by others and because of this users don’t lose interest in trading and they try to make the best out of it.
Zerodha is different from its competitor as it tries to educate its users instead of selling its product and even, and they don’t recommend stocks to buy. Zerodha ensures when new users log in to their platform they must be aware of how to use the platform and what best practice they adopt so they don’t lose money.
Ferrero Rocher
Ferrero Rocher is an Italian brand that was introduced in the year 1982. This company rarely spends its money on brand promotion instead they focus more on its ideal approach straightforward approach to the customers and consistently conveys the USP of its brand to its customers.
The company has a presence in over 170 countries and has done business for 65 Million dollars in 2020. This company offers its client the best quality material and heavenly taste.
CONCLUSION
The main reason why these brands are doing so well is these brands believe in themselves. They make their services and product speaks for them and always keep their focus on the pain points of the buyers.
