Anna Sheets, Will Passera, Kyle DeCotiis, & Emily Ann Betts · 2019. 7. 22. · ★A transformative...
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Anna Sheets, Will Passera, Kyle DeCotiis, & Emily Ann Betts
Transcript of Anna Sheets, Will Passera, Kyle DeCotiis, & Emily Ann Betts · 2019. 7. 22. · ★A transformative...
Anna Sheets, Will Passera, Kyle DeCotiis, & Emily Ann Betts
Brand Situation
★ Background,
★ History,
★ Brand Milestones
Background
Background, History, Brand Milestones
★ A New Dream
○ Philip Krim was inspired by his entrepreneur
father
○ Built e-commerce websites as a summer job
■ Found that mattress companies weren’t
doing any business online
● Desired to cut the overhead of stores
and begin selling mattresses in a box
online
● Founded Casper with Neil Parikh, T.
Luke Sherwin, Jeff Chapin, and
Gabriel Flateman
★ Casper website went live on April 22, 2014
○ Sold entire inventory in a single day
Brand Milestones
Background, History, Brand Milestones
Website launch
April 22, 2014
Partnered with Target
November 2015
April 2016
Launched Dog Bed
Expanded to Canadian
market
Expanded product line with
pillows and sheets
Partnered with American Airlines
August 2017November 2014
Launched ‘The Wave’
April 2018
May 2017
Launched ‘The Essential’
October 2017
Launched ‘Casper Glow’
2019
Products
Background, History, Brand Milestones
Industry Trends
★ Growing preference for:
○ Customized size/shape/design
○ Eco-friendly
○ Affordable materials
○ Multi-functional beds
■ Futons, recliner chairs, multimedia
beds
★ Rise in influencer marketing
★ Amazon’s impact
Background, History, Brand Milestones
★ Industry in period of growth:
○ Stability in housing market
○ Stable wage growth
○ Increased spending on premium items
★ Consumer Preferences
○ Quality over Cost: 40% of consumers
willing to spend more on a better
mattress
○ Key consumers:
■ 18-24 (worst sleepers)
■ 55+ (highest purchase intent)
★ Current battle between customization and
“one-size-fits-all” theories
Our Approach
Brand Strategy
“The Nike of Sleep”
-Philip Krim, founder
★ Content marketing
○ Consistent tone
○ Online blogs
■ “Pillow Talk” pokes fun at
content marketing cliches
○ Establishes itself as a sleep expert
Brand Strategy
To dreamers… who deserve a tranquil escape,
Casper is the brand of reliable, comfortable
mattresses
That provides the greatest sleep of your life
delivered to your door
Because our mattress foam formula and
crafted experience is the magic behind your
nightly oasis.
Brand Purpose/Positioning Statement
Brand Fingerprint
Brand Fingerprint
Head Attributes Heart Attributes
ComfortableGreat sleepSoftWarmBreathableEssentialConsistentFirm SignatureCleanCoolingAward Winning
TranquilRelaxingEscapePeacefulGetawaySpa-likeTrustworthyHomeDreamyValuableBreezyLoving
The breathability and comfort of a Casper mattress will provide you with a consistent, transformative experience throughout the night.
When you need an escape from your busy life, a Casper mattress is the perfect getaway.
★ What the brand is
○ Fulfilling
○ Relaxing
○ Authentic
○ Universal
○ Oasis
Brand Fingerprint
★ What the brand isn’t
○ Just-another-mattress
○ Complicated
○ Unreliable
○ Commodity
○ Modest
Brand Essence: Oasis in a Box
Brand Archetype: Magician
The Magician
★ Casper is for the dreamers
○ Casper promotes dreaming
○ Starry nights
○ Comfort
○ Mastering sleep
★ A transformative experience
○ Casper brings you a new level of
sleep and comfort
○ Better sleep leads to a better you
★ A New Age of consumers
○ Consumers are young and willing to
buy a mattress based on trust
★ Dream-worthy product
○ Casper is an oasis and the ultimate
fluffy destination after a long day
Brand Archetype
We promise to provide universal comfort through
luxurious, quality mattresses that offer
award-winning sleep to any kind of dreamer.
Brand Purpose
Messaging &
Visualization
The Unboxing
★ From hassle to Christmas
○ Packaging of dense compacted
mattress could be seen as
annoying to unbox
○ Magical child-like experience of
unwrapping a gift
★ YouTube
○ YouTube unboxings bring an
experience to finding your
casper box outside your door
★ Transforms like magic
○ Mattress expands after being
removed from the box
Brand Messaging & Visualization
The Experience
★ Snooze Bar Spring 2015
○ The Snooze Bar was an event
created in the Spring of 2015
○ DC, Austin, San Francisco
○ Made an event out of sleep
with cocktails, waffles, lattes,
and of course beds
★ The Dreamery
○ Book a 45 minute nap time
to try out Casper in NYC for
$25
○ Experience Casper in your
own personal escape nook
○ Then grab a coffee and get
on with your day
Brand Messaging & Visualization
Face & Voice of Casper
★ Dreamy colors
○ Use blues, purples, fluffy whites
★ Voice: Casper’s sleep FOMO
○ Casper uses on-trend humor to make you
wish you were in bed
○ Speaks with casual, drowsy voice
★ Face: Snuggly, comfortable, familiar
○ Use snuggling couples, kids, so many
dogs, and people wrapped up in their
duvet
○ Familiar people rather than people that
look fake or like models
■ Casual, friendly, approachable
Brand Messaging & Visualization
comfortable, escape. relaxing, tranquil, home
Competitor Analysis
★ Manufacturers
○ Serta Simmons: Traditional mattresses complete with box spring - mattress combo
○ Tempur Pedic: use memory foam technology, bridging step between traditional and foam
mattresses
★ Retailers
○ Mattress Firm
■ Essentially have a monopoly over mattress distribution
■ Own Sleepy’s, Sleep Train, Sleep America, 1800Mattress.com, etc.
○ IKEA
■ Specifically target multigenerational households with larger options at value prices
○ Discount Retailers: offer lower quality mattresses at discount prices
■ America’s Mattress
■ Mattress1One
■ Costco
Competitive Analysis
Traditional Competition: “Try then buy”
Online Competitors: “2nd Movers”
★ Leesa
○ Use product claims to position as superior quality mattress
○ Products
■ Offer Foam-Spring Option $1355 Q
■ Original Multilayer Foam $845 Q
★ Tuft & Needle
○ Focus on innovation with proprietary formula
○ Products
■ Original (2 Layers Foam 10”) - $595 Q
■ Mint (3 Layers 12”) - $995 Q
★ Helix
○ custom comprehensive questionnaire building customer
sleep profile including body type and special needs
Competitive Analysis
Online Competitors: “2nd Movers”
Competitive Analysis
Brand Key Claim Cost (Queen)
Tuft &
Needle
Great Customer Service
In-store Trial Partnerships
Base: $595
2nd Level: $995
Leesa
Product claims for people w/
sleep discomfort
Base: $845
Hybrid: $1355
Helix
Online survey to customize
order to sleeping needs
Base: $920
Luxury: $1620
Purple
Honeycomb-style
“Comfort Grid”
Base: $999
2nd Level: $1299 - $1899
Competitor Communication- Memorial Day huge sales event- Show Box- 100 days free, free shipping, - Technology focus, comfort claims- Simplistic- FAMILY/Couple focused
Consumer Insights
Subject Matter Expert Opinions
★ Former Store Owner with 30 years in Mattress/Furniture Industry
○ “I think the idea is crazy because we’ve always sold innerspring mattress and they could never fold
into a box”
○ “People like it because it’s convenient, the same way people don’t shop in-store for their own
groceries anymore”
○ “I don’t think they’d do well compared to what we’ve got. They’re a completely different animal -
like a futon.”
★ Sales Representative TUFT & NEEDLE
○ “Our mattress is designed to sleep cool, cradle the sleeper’s pressure points, and provide excellent
support”
○ “[We’re] designed to have the great pressure relief of memory foam and support of latex without
drawbacks of those materials.”
SME Research
Reviews
★ The Casper overall rating - 4.5 stars, 15,995 reviews
★ Customers live by and advocate for the brand
★ “The most restful and peaceful sleep I’ve ever had.”
★ Mattresses are made out of four layers of memory foam which is
what differentiates their brand
★ The mean in which the mattresses are made help support spine
alignment
○ Investing customers in their products
Consumer Insights
Reviews
Consumer Insights
Emotions, Likes, Dislikes
Consumer Insights
★ Positive vibes - consumers seem to associate
strong feelings towards Casper
○ Customers are constantly giving feedback
to the brand and engage with it through
their blog - Pillow Talk
○ Dislikes about the brand typically come
from how the mattress is preserved during
the shipping process
Tired Tyler
Brand Personas
★ Demographics
○ Millennial
○ Student/Entry-Level job
○ Generally more diverse
○ Lower income
★ Behaviors
○ Spends a lot of social media
○ Rarely gets a good night sleep
○ Price sensitive, but spends on quality
○ Works long hours
○ Wants to change the status quo
○ More likely to be moving in the near future
○ Enjoys spending time with friends and social outings
○ Whole life is digitally connected with wearable tech
★ Needs and goals
○ Trying to earn enough to support care-free lifestyle
○ Often tired, restless
○ Wants comfort and quality but not at a high price tag
Restful Russell
Brand Personas
★ Demographics
○ Skews older (55 +)
○ Long established career
○ Likely to have older children
○ Is looking for a mattress for better back alignment
○ Higher income household
★ Behaviors
○ Doesn’t utilize social media
○ Spends money to support family
○ Multiple children who he expects to live better
than him
○ Works long hours
○ Values a good investment
○ Considering downsizing to a smaller home
★ Needs and goals
○ Support the family with high quality
○ Doesn’t change mattresses unless worn out
white space.
SWOT
Strengths
★ Consumers are strong, loyal advocates for the brand
★ Very accessible to customers with great service and
direct interaction
★ First-mover advantage
★ Great press and media attention
Weaknesses
★ Can’t try in store before purchase
★ People don’t want to return-ship mattresses
★ High Cost
★ Limited store locations (20 across U.S.)
Opportunities
★ Expand products outside of mattress industry
★ Focus on sleep-related products
★ Add store locations
★ Partnerships with more stores or online retailers
Threats
★ Fierce competition as more online mattress
companies innovate
Preliminary White Space Analysis
★ New Products
○ Pajamas/Blankets
○ Sleep Masks
○ Slippers
○ Mattress toppers
○ Diffusers
○ Bath mats/towels
○ Supplements/Consumers
○ Sound Machine w/ Light
■ Plays through app
○ Sleep technology
○ Adjustable/customizable mattresses
○ Lights through foam
○ Futon
○ Couches and chairs
○ Hammocks
○ Box spring/furniture pieces
○ SEASONAL products
★ Partnerships
○ Colleges
○ High-end Hotels
○ Nursing homes
○ Hospital
○ Orphanages
○ Camps
○ Homeless shelters
○ Sports teams/events
★ Event marketing
○ Sleep studies
○ Public space sleep-testing
○ Philanthropy
■ Buy a mattress give a pillow
■■
White Space Recommendation
★ Sleep Technology
★ Reasons:
○ Keep up with trends
○ Helps track sleep patterns for target
market
○ Easily paired with other devices
○ Differentiate from competitors
Brand Mentors
★ Intelligent Naivety - Put the magic back into the category, founder had background in
e-commerce websites while in college
★ Symbols of Re-Evaluation
○ Shipping in a box
○ Thought Leadership: new approach to age old industry
○ New Products focused on sleep, not just mattresses (i.e. light)
★ Do More with Less: don’t need to invest in Brick and Mortar
Challenger Brand Concepts
Questions?
