Extractive summaries and key takeaways from the articles curated from TOP TEN BUSINESS MAGAZINES to promote informed business decision-making | Week 305 | July 14-20, 2023
What DTC Startups Can Learn From Barbie’s Genius
By Ilse Calderon | Forbes Magazine | July 20, 2023
Once the overlooked stepchild of the Mattel world, Barbie now sells 100 dolls every minute and has become synonymous with marketing genius. As such, there is much the startup world can learn from Barbie’s business savviness–specifically, brands that cater to individual consumers (Direct to Consumer, DTC). There are three Barbie lessons DTC startups can infuse into their own marketing strategies.
- Barbie energy is kindness, sincerity, and most of all, a hustle-like yet graceful mentality. Even though one would argue Barbie energy is everywhere (and also exists outside Barbie’s Dream Land), Barbie (and her marketing team) is a prime example of what happens when one combines all the powerful elements that make up Barbie energy: selling products off the shelves. In today’s consumer savvy world, a consumer can see past a brand’s half-hearted attempts at engaging with her. Therefore, it has become increasingly smart to lead with kindness and sincerity.
- Barbie is almost never alone and gets by with the help of her girl gang. So, when it comes to DTC startups, they too should aim to collaborate with synergetic brands. Startups can also benefit from a diversity of collaborations, because, there’s value in diversifying.
- The longevity behind the Barbie brand has stood the test of time for nearly 60+ years. Barbie had a long inspirational tenure of nearly every career possible. From teacher to astronaut to even a robotics engineer, Barbie has truly done it all. It is because of these years and Barbie’s steady place in pop culture and social conversations that her presence comes with an air of Nostalgia for her older fan base. The Barbie movie has cleverly taken this longing for one’s past memories and capitalized on it. This marketing has all of us anticipating the movie’s arrival even though we haven’t played with Barbies in decades! Brands are investing real money in this movement.
There’s more to Barbie and her empire than just pink-fying our life. We are living in a Barbie world that inspires limitless imagination. So, as startups enter a post-Barbie movie era, it’s best to saddle up with Barbie energy, accessories (partnerships), and a healthy dose of nostalgia. Because, even though elements might not exist in Barbie world, combining these three elements can certainly be a recipe for selling products!
2 key takeaways from the article
- Once the overlooked stepchild of the Mattel world, Barbie now sells 100 dolls every minute and has become synonymous with marketing genius. As such, there is much the startup world can learn from Barbie’s business savviness–specifically, brands that cater to individual consumers (Direct to Consumer, DTC).
- There are three Barbie lessons DTC startups can infuse into their own marketing strategies: be your unapologetic self and even embrace controversy, collaborate with synergistic as well as diversified brands, and use nostalgia to build anticipation and excitement.
Topics: Startups, Strategy, Marketing