Founded in 2005, LifeLock provides subscription-based identity theft protection to more than 1.6 million law enforcers, public servants, and consumers. Now you might think that being in the security business is a no brainer for growth. But how the company entered the market, and how they grew the market is the reason I see them as Zero Gravity!
Merchants give out samples of their products to win customers over all the time. Just walk through Cosco and you’ll have a feast of freebies. (Although I do wonder how many of us buy those treats.)
Todd Davis, the CEO of LifeLock, decided to try the same approach for his security services. The idea came to Davis just before he was doing an interview on CNBC. He made a quick call to his team to make sure what he was about to do was legal. And then he took the plunge.
To prove the power of his offerings – he gave out his SSN on the CNBC show and challenged anyone and everyone to breach his security products.
The interest in LifeLock skyrocketed. Especially since no one could hack his SSN. Enrollments for LifeLock’s subscription service exploded. Many people also wanted to know if they could invest in the company as well as enroll. Now that’s attention!
But LifeLock didn’t just depend on that one stroke of marketing brilliance. They also focus on educating consumers about identify theft and how to prevent it from happening to you. Since 2008, LifeLock’s free educational programs have touched over 16,000 consumers. The programs provide a behind-the-scenes-look at identity theft, including how you can become a victim and how you can protect yourself. The training is delivered from a consumer advocate, law enforcement official or certified identity theft risk management specialist. They aren’t LifeLock ads – but they do help consumers understand why LifeLock is so important. Now that’s marketing!
The results? In 2006 revenues were $1.1 Million. In 2008 – revenues exceeded $131M. That’s a 3-year growth rate of over 11,000% folks.
Sometimes you have to take the plunge, do something different or whacky just to get attention. And it also helps to focus on helping your audience understand and solve a big problem versus chest thumping me, me, me marketing.
It also really helps when you have the faith in your offering to put your future where your marketing is, step up and put your product to the test – publicly.
Website – http://www.lifelock.com
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