Is Beyond Meat really the alternative solution to eating real animal meat?
On Thursday, May 16, 2019, Beyond Meat (BYND) went public on the Nasdaq Global Market with its IPO that opened at $46. It closed that day at 163% above its IPO price at $65.75 making this stock the best performing opening day IPO in two decades.
So, what’s all the hype about? And why is Beyond Meat making headlines in the news? First off, Beyond Meat claims that its vegetarian / vegan burger and sausage ingredients mimic the taste, consistency, and cooking characteristics of real animal meat. Secondly, the company has embarked on a huge marketing program that enlists famous athletes, that include NBA and NFL stars, as brand ambassadors. Their message to the public is that Beyond Meat products are a healthy alternative to traditional meat and that the taste is comparable to the real thing. Beyond Meat products can now be found in many popular grocery stores and is also being included in some of your favorite fast food restaurant chain menus. However, what is interesting about the company’s marketing plan is that it’s not labeling itself as a veggie burger or sausage that most traditional meat eaters are turned off by. Instead it’s using this meat alternative to break barriers, defy convention, shatter expectations, and go beyond what most people’s assumption of what a plant-based meat alternative is. Based on these statements many news media outlets have covered the brand’s message and even put the product to a taste test.
As a professional digital marketer, I am impressed with how Beyond Meat is using the celebrity status of their ambassadors to educate the public on its products. It is doing this by creating a variety of videos ads that are made available on its corporate YouTube page and shared throughout different social media channels. However, my favorite video ad is the one that lists facts and educates the public on the global problems facing our meat-eating society. This video ad also provides a solution by demonstrating that Beyond Meat is the answer. This type of video ad should be a lesson for other companies that have products or services to mimic.
A company, especially if they are small or medium size, does not need to pay celebrity ambassadors to spread its message. A good marketing plan should include an educational video that introduces the problems faced by the market that it serves and explain that its products or services are the solution to those problems. The educational video should be embedded onto the company’s website and shared on social media. Creating a following on social media is important because it helps spread a company’s corporate message and allows potential new clients the ability to discover the company. The success of an educational video will help pull new clients into the sales funnel and provides the sales team with corporate visual material to promote.
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