SUMMARY: Companies want a great brand because it attracts new customers, gets current customers to spend more, and keeps customers loyal. Great brands dominate the markets they compete in but bigger ad budgets or shifting dollars to digital is not the way to grow brands.
SUMMARY: The mistake that most marketing people make when developing a website is that they try too hard to sell at a time when consumers don’t want to be sold.
- Wayfair went public in October 2014, raising over $300 million on the New York Stock Exchange.
- Today, it is the largest online-only retailer of home furniture in the United States and 33rd-largest retailer in the US. Revenue in 2017 was a very impressive $4.7 billion.
- Wayfair is focused on inexpensive products, positive user experiences with their digital products, and good customer service.