Get ready for your daily dose of marketing strategies and tactics from entrepreneurs with the gal and experience to help you find success in any marketing capacity. You're listening to Marketing School with your instructors Neil Patel and Eric Sue. All right, guys, before we start, we got a special message from our sponsor. If you want to rank higher on Google, you gotta look at your page speed time. The faster website loads, the better off you are with Google's Core Vital update. That makes it super super important to optimize your site for low time. And one easy way to do it is use the host that Eric and I use, dream Hosts. So just go to dream host or Google it, find it, check it out, and it's a great way to improve your low time. Welcome to another episode of Marketing School. I'm Eric Tu and I'm Neil Patalat. Today we're going to talk about key warking lessons learned from Red Bull versus Monster Energy Drink. So for those of you that don't know, give you a little context first. Obviously, you know Monster is a very big energy drink company solds Red Bull. They're all, you know, really known worldwide, and you know there's always these wars going on. So Neil and I have talked about Pepsi versus Coca Cola, for example. So there's a lot of lessons that I can kick things off. First. So you know, when you look at Red Bull, they're very you know, they're not just like an energy drink, but they're like a brand. They've got like a story around them. And we always talk about the importance of brand. So I remember a couple of years ago they had that that daredevil Felix Bumgardner. I think this guy jumped, like took this balloon to the top the tip top of the atmosphere where he can see like he's basically like he pretty much went to space. Yeah, and then he just jumped down right, And you know, that got so many views, so many people were watching, and that was like a world record. And what happened. I'll just give you the result. With just the taper this down. They got over one hundred million dollars in basically call it earned media, right worth of earned media, just all the attention, and their stock price jumps seven. Yeah, and it's crazy. It's all about creating a story. Monster has a ton of flavors. I don't know if Red Bull has as many flavors, but what Red Bull focuses on a lot is simple product ton of really crazy extreme marketing, and that's worked really well for us. A lot of the other players out there, like Monster, even a rock star, these energy drinking companies will do tactics like having models hand out drinks or anything like that, but Red Bull is all about building up a community, so they'll do things like find high school students, give them a Red Bull car and get them to hand out drinks to other members. They want to show you, hey, your peers are drinking it. Your friends are they like red Bull, you should too. They're more trying to build up like that grassroot community, even though we're a multi billion dollar company, and they'll do crazy experiments like jumping out from outer space and even doing things like filming it all and letting you watch it in three D so if you have an Oculus device or whatever, maybe you can truly experience it. Or they'll do grassroots stuff like they're getting away from basic things like hey, let's have models hand out our drinks, whether there's male or female, and they're trying to do more things like hey, let's have people drive around in a Mini Cooper Red Bull car and hand out drinks within their high school. So then that way they're building up a really strong community. Yeah. Just I mean another example of extreme is they buy sports teams. They will buy and rebrand sports team. I think one of the teams. Let's just make these things. They have a Formula one team, now, they have a Formula one team, they have a soccer team. They have like all these teams and they just rename it, like, let's call it like a Seattle team, right, they're like, oh, the Seattle Red Bulls. Yeah. Yeah, So like they'll spend hundreds of millions right on marketing. And so just to jump over a second, we talk about monsters. It's smaller obviously, but you know those most people don't know that. But do you remember the Hanson Juices? Yeah? Yeah, so Monster is actually from Hanson. And when they started out as an energy drink, they were called like Hanson's Energy drink or something. And because Hanson were like, you know, fruit juices, they weren't. The brand was inconsistent. Right, It's like, oh, like you know, all of a sudden, you guys are like fruit juices and all of a sudden, you guys are like a monster, like energy drink? How does that make any sense? Or energy drink? Then they decided, sorry, just to back up a second, they decided to rebrand from a handsOn Energy Drink to Monster. That way, there's like, you know, more attitude. It has a different story. So the name is important, right. How often have we talked about naming on this podcast? Not too often, not too often, But it is important, it is, and you've got to figure out what works for you. Monster still does well too. According to financial article, red Bull owns forty three percent of the market share, and this is on Yahoo Finance, and Monster owns roughly thirty nine percent of it. And this was back in twenty fifteen. But let's say the numbers are similar. What works for red Bull may not work for Monster and vice versa, even if they're in the same market. So when you look at your business, what's working for your competitors may not work for you. If someone's in the market first, they have first mover's advantage. You have to think about things differently. For example, if some was the first mover and they use a certain amount of tactics that are working well for them, well, you can use last mover's advantage in which, all right, where are the gaps in the market that people aren't satisfied with and let me fill those in. So you got to think about your strategy. Your strategy shouldn't always be how am I going to beat my competition? You should start thinking about your strategist. What are the voids in the market that my competitor has left, and how can I fill those voids? Neil brings up a really good point. I'll give you a fine example and then I'll pass it over to you if you have anything else. But when you look at red Bull and then you look at Monster, right, Monster was just like, oh, red Bulls doing this thing. They're doing really well in Europe. This is before they came to the America. And they're like, oh, we're going to do literally the same exact thing, right, Like, you know, we're gonna have to be this big attitude you know, energy drink, and we're going to probably cater more towards like the younger crowd, the party crowd and all that. And then but the thing is most people they don't realize five hour energy drink actually spawned from looking at these wars. Right, five hour Hour Energy Drink is a multi billion dollar company, Yeah, it is, Yeah, and so he I mean this guy god, I forgot his name, but he focuses on the people that are actually like employed, right, people that are working for other people. Because you get tired, like by two three pm or so, you need to pick me up. And five hour Energy is just like a quick shot, right, It's not like you're drinking Red Bull, Vodko or anything. So you got to think about how you're gonna position yourself. Maybe you can repurpose what somebody else has done and make it into something different, and then all of a sudden it's now yours. Right, So look, that's the story around what monster these Energy drink wars, Red Bull? You got anything else? No, that's it from my end. Make sure you guys go check out marketingschool dot iOS slash stats. We're still on our way to a million listens a month. Once we hit that, we're gonna throw a free in person event. We want all of you guys to come, and of course if you can't come, no worries. We're gonna stream this or we're gonna have recorded versions. So that way the rest of you guys can participate if you're not able to make it down to Los Angeles, California. All right, that's it for today and we'll see you tomorrow. This session of Marketing School has come to a close. Be sure to subscribe for more daily marketing strategies and tactics to help you find the success you've always dreamed of. And don't forget to rate and review so we can continue to bring you the best daily content possible. We'll see you in class tomorrow right here on Marketing School

Get ready for your daily dose of marketing strategies and tactics from entrepreneurs with the gal and experience to help you find success in any marketing capacity. You're listening to Marketing School with your instructors Neil Patel and Eric Sue. All right, guys, before we start, we got a special message from our sponsor. If you want to rank higher on Google, you gotta look at your page speed time. The faster website loads, the better off you are with Google's Core Vital update. That makes it super super important to optimize your site for low time. And one easy way to do it is use the host that Eric and I use, dream Hosts. So just go to dream host or Google it, find it, check it out, and it's a great way to improve your low time. Welcome to another episode of Marketing School. I'm Eric Tu and I'm Neil Patalat. Today we're going to talk about key warking lessons learned from Red Bull versus Monster Energy Drink. So for those of you that don't know, give you a little context first. Obviously, you know Monster is a very big energy drink company solds Red Bull. They're all, you know, really known worldwide, and you know there's always these wars going on. So Neil and I have talked about Pepsi versus Coca Cola, for example. So there's a lot of lessons that I can kick things off. First. So you know, when you look at Red Bull, they're very you know, they're not just like an energy drink, but they're like a brand. They've got like a story around them. And we always talk about the importance of brand. So I remember a couple of years ago they had that that daredevil Felix Bumgardner. I think this guy jumped, like took this balloon to the top the tip top of the atmosphere where he can see like he's basically like he pretty much went to space. Yeah, and then he just jumped down right, And you know, that got so many views, so many people were watching, and that was like a world record. And what happened. I'll just give you the result. With just the taper this down. They got over one hundred million dollars in basically call it earned media, right worth of earned media, just all the attention, and their stock price jumps seven. Yeah, and it's crazy. It's all about creating a story. Monster has a ton of flavors. I don't know if Red Bull has as many flavors, but what Red Bull focuses on a lot is simple product ton of really crazy extreme marketing, and that's worked really well for us. A lot of the other players out there, like Monster, even a rock star, these energy drinking companies will do tactics like having models hand out drinks or anything like that, but Red Bull is all about building up a community, so they'll do things like find high school students, give them a Red Bull car and get them to hand out drinks to other members. They want to show you, hey, your peers are drinking it. Your friends are they like red Bull, you should too. They're more trying to build up like that grassroot community, even though we're a multi billion dollar company, and they'll do crazy experiments like jumping out from outer space and even doing things like filming it all and letting you watch it in three D so if you have an Oculus device or whatever, maybe you can truly experience it. Or they'll do grassroots stuff like they're getting away from basic things like hey, let's have models hand out our drinks, whether there's male or female, and they're trying to do more things like hey, let's have people drive around in a Mini Cooper Red Bull car and hand out drinks within their high school. So then that way they're building up a really strong community. Yeah. Just I mean another example of extreme is they buy sports teams. They will buy and rebrand sports team. I think one of the teams. Let's just make these things. They have a Formula one team, now, they have a Formula one team, they have a soccer team. They have like all these teams and they just rename it, like, let's call it like a Seattle team, right, they're like, oh, the Seattle Red Bulls. Yeah. Yeah, So like they'll spend hundreds of millions right on marketing. And so just to jump over a second, we talk about monsters. It's smaller obviously, but you know those most people don't know that. But do you remember the Hanson Juices? Yeah? Yeah, so Monster is actually from Hanson. And when they started out as an energy drink, they were called like Hanson's Energy drink or something. And because Hanson were like, you know, fruit juices, they weren't. The brand was inconsistent. Right, It's like, oh, like you know, all of a sudden, you guys are like fruit juices and all of a sudden, you guys are like a monster, like energy drink? How does that make any sense? Or energy drink? Then they decided, sorry, just to back up a second, they decided to rebrand from a handsOn Energy Drink to Monster. That way, there's like, you know, more attitude. It has a different story. So the name is important, right. How often have we talked about naming on this podcast? Not too often, not too often, But it is important, it is, and you've got to figure out what works for you. Monster still does well too. According to financial article, red Bull owns forty three percent of the market share, and this is on Yahoo Finance, and Monster owns roughly thirty nine percent of it. And this was back in twenty fifteen. But let's say the numbers are similar. What works for red Bull may not work for Monster and vice versa, even if they're in the same market. So when you look at your business, what's working for your competitors may not work for you. If someone's in the market first, they have first mover's advantage. You have to think about things differently. For example, if some was the first mover and they use a certain amount of tactics that are working well for them, well, you can use last mover's advantage in which, all right, where are the gaps in the market that people aren't satisfied with and let me fill those in. So you got to think about your strategy. Your strategy shouldn't always be how am I going to beat my competition? You should start thinking about your strategist. What are the voids in the market that my competitor has left, and how can I fill those voids? Neil brings up a really good point. I'll give you a fine example and then I'll pass it over to you if you have anything else. But when you look at red Bull and then you look at Monster, right, Monster was just like, oh, red Bulls doing this thing. They're doing really well in Europe. This is before they came to the America. And they're like, oh, we're going to do literally the same exact thing, right, Like, you know, we're gonna have to be this big attitude you know, energy drink, and we're going to probably cater more towards like the younger crowd, the party crowd and all that. And then but the thing is most people they don't realize five hour energy drink actually spawned from looking at these wars. Right, five hour Hour Energy Drink is a multi billion dollar company, Yeah, it is, Yeah, and so he I mean this guy god, I forgot his name, but he focuses on the people that are actually like employed, right, people that are working for other people. Because you get tired, like by two three pm or so, you need to pick me up. And five hour Energy is just like a quick shot, right, It's not like you're drinking Red Bull, Vodko or anything. So you got to think about how you're gonna position yourself. Maybe you can repurpose what somebody else has done and make it into something different, and then all of a sudden it's now yours. Right, So look, that's the story around what monster these Energy drink wars, Red Bull? You got anything else? No, that's it from my end. Make sure you guys go check out marketingschool dot iOS slash stats. We're still on our way to a million listens a month. Once we hit that, we're gonna throw a free in person event. We want all of you guys to come, and of course if you can't come, no worries. We're gonna stream this or we're gonna have recorded versions. So that way the rest of you guys can participate if you're not able to make it down to Los Angeles, California. All right, that's it for today and we'll see you tomorrow. This session of Marketing School has come to a close. Be sure to subscribe for more daily marketing strategies and tactics to help you find the success you've always dreamed of. And don't forget to rate and review so we can continue to bring you the best daily content possible. We'll see you in class tomorrow right here on Marketing School