In our previous article, we learned in detail about the SWOT analysis of Honeywell. In this article, we are going to elaborate the marketing strategy of Honeywell. The objective is to help you gain insights into Honeywell’s Marketing strategy.
Marketing is a part of a company’s DNA that can either make it or break it. As users across the world go digital, marketing has followed them to the digital realm as well. If you are interested in new-age digital marketing, then you should check out IIDE’s Free MasterClass on Digital Marketing 101 by our CEO and Founder, Karan Shah.
We will fully cover the marketing strategy of Honeywell in this blog. Before we dive into that, let us start by learning the company’s story, and the target audience’s digital presence.
Honeywell is a Fortune 100 company and one of America’s biggest conglomerates working through 1200+ locations spread in 70 countries.
Honeywell’s heritage dates back to 1885 when it began as a hot water heat generator producer under the name Honeywell Heating Specialty Co. in 1906. Honeywell also played a critical role in 1969, during the Apollo 11 launch by supplying 16,000 parts for Stabilisation and Control Systems (SCS).
In 1999, AlliedSignal, which was a chemical-based company, acquired Honeywell. The headquarters were moved to Morristown, N.J. The firms had large business interests in aerospace, chemical products, automotive parts, and building controls when they joined forces.
In the 21st century, Honeywell started acquiring businesses like Oil and Gas, and Laser technology at a rapid speed. In 2016, they joined hands with Intelligrated which automated distribution centres and warehouses.
|Market Share/ Revenue||$34.392 Billion|
|Vision||To continuously improve the way we do things so that we can capture greater value not just for us, but also for our customers.|
|Tagline||We believe what happens tomorrow is determined by what we do today.|
Marketing Strategy of Honeywell
Let’s learn about Honeywell’s marketing strategy! And how Honeywell carries the marketing campaign etc.
Segmentation Targeting, and Positioning
By using the segmentation technique, Honeywell can narrow down the large, diversified target audience into specific and narrowly defined groups. Market segmentation surveys are common methods of obtaining customer-specific information that could be used to create groups sharing common characteristics.
After understanding the unique buying behaviour of customers and getting the required information through surveys, Honeywell can divide the market into small homogeneous groups.
The company can use one or more of these segmentation strategies to choose the right market segments and develop an effective Marketing Strategy.
The targeting can be done by evaluating the commercial attractiveness and growth potential of identified segments. Honeywell can choose one or more segments depending on the segments’ characteristics and the company’s resources, capabilities, and growth objectives.
The commercial attractiveness and growth potential of each segment can be evaluated by using the following indicators:
- Identified segments have the appropriate size
- Have concrete differences.
- The estimated profits should exceed the additional marketing costs.
- Segments are easily accessible.
After segmenting the customer market and choosing the right target market, Honeywell is now required to set a clear positioning statement that could create a positive image of the offered product in the customers’ minds.
In 2018, Honeywell promoted the Healthy Sleep campaign with its brand ambassador Kareena Kapoor Khan. A public awareness campaign to educate people about the importance and benefits of a ‘Healthy Sleep’.
Outside polluted air which is full of germs, and dust makes the indoor air even more unhealthy. Amidst all of this, it is impossible to enjoy a healthy sleep in our homes.
The 40-second TVC highlights air purifiers by Honeywell a Connected Building technologies that help to achieve healthy sleep.
In the summer of 2017, Honeywell developed a social media campaign that focused on two target groups.
- The first target group consisted of people who were already familiar with the brand (likers). Honeywell’s goal was to reach them with relevant content and generate website traffic, even in the relatively quiet summer period.
- Other target groups consisted of people who weren’t yet familiar with the brand, but who might be interested. The goal? Reach them to raise their awareness of the Honeywell brand.
To reach these goals, Honeywell came up with and created different videos, including a slideshow, stop-motion videos etc. In these videos, they addressed recognizable summer issues, such as keeping an eye on the house when you’re on holiday and connecting these issues to a Honeywell product.
Honeywell introduced the same products to the unfamiliar target group, so they could get to know them as well. Naturally, the brand also incorporated social advertising to make sure the videos reached the right target group.
The result? The campaign had a reach of more than 161,000 people and 300,000 views. Honeywell also reached 125,000 engagements and more than 150 clicks to the website.
Helen of Troy, licensors of Honeywell, the category leader in HEPA air purifiers, is proud to announce the release of a new digital campaign, “Clear the Air”. The campaign includes two spots, which target allergy sufferers and those affected by poor air quality due to wildfires.
The programmatic campaign leverages geotargeting based on high allergy/pollen count and poor air quality due to recent wildfire activity. Both ads served to those that are within an established radius around key retailers of Honeywell HEPA air purifiers, including Best Buy, Home Depot, Kohl’s, Meijer, Menards, Target, Fred Meyer, and Walmart.
The campaign was launched in March 2019. The spots promote the brand’s claim as the #1 brand recommended by Allergists and that their HEPA air filters capture up to 99.97% of allergens from the air that passes through the filters.
Social media marketing
After launching the Honeywell Home Facebook page, the company engaged Collective Measures to grow its fan volume in preparation for a major product release. To use Facebook and Twitter for generating awareness, brand advocates, and ultimately leads, Honeywell sought to grow each channel to a total of 25,000 fans/followers.
14,664 New Facebook likes during the two-month campaign with a total of 32,868 fans/followers on both Facebook and Twitter. Facebook grew by 252% and Twitter by 38,715%.
As per SEO ranking, it is said that the number of keywords – below 500 is bad, above 1000 is good, and 10,000+ is amazing. As we can see that www.honeywell.com has 310,882 organic keywords and it’s considered amazing. That means the digital marketing of Honeywell is gaining a good number of insights.
Also, the traffic per month is around 3L+ which is known as fantastic. Hence, Honeywell has improvised its SEO strategies while working hard enough to keep the brand soaring in the Google organic SERP results.
From the start, Honeywell has collaborated with many YouTubers, Bloggers, etc for their marketing purpose. They have many influencers with more than 30K+ and 120K+ followers. Influencers promote the product (Honeywell) so that Honeywell gains popularity and the sales will increase via their fan’s following.
Honeywell has its website and a kind of e-commerce platform where you can find detailed information about Honeywell’s various products and services. One can easily check all the products manufactured by Honeywell and find a retailer nearest to them. The website user experience is great and the loading time is really fast.
Honeywell has various applications through which users can operate Honeywell appliances.
Applications including HonView Touch remote access software for DVR/NVR, CCTV cameras etc.
Another application is Honeywell Connect mobile application allows users to connect and set up job site devices in one place. It is one of the fastest and easiest ways to set up a complete small business control and monitoring system.
Other applications include Impact by Honeywell, Resido – Smart Home, Honeywell Secure, Total Connect Comfort etc. You can search these applications on the play store to know more.
Content Marketing Strategies
Honeywell is very active on social media. The post content is related to their new flavours or their products, awareness messages, etc. The sources of posting content are Facebook, Twitter, LinkedIn, and Instagram. Also, they press releases about their product via sources such as The Hindu, MoneyControl, The New Indian Express, etc.
Honeywell’s website talks more about how to make the future and tackle the new world’s new challenges. The blogs and articles published by Honeywell are really insightful and informative. They have content sections including blogs, news, press & media and podcasts.
This ends the elaborative marketing strategy of Honeywell. Let us conclude our learning below from the marketing strategy of Honeywell.
What’s Unique in Honeywell Marketing?
Honeywell has come a long from an anonymous small company to one of the biggest conglomerates in America. Based on its performance to date, there’s no doubt it will only continue to grow further.
Even though Honeywell has been constantly criticised because of its poor waste management, it has taken vast remedial measures. Honeywell still has a lot of opportunities and markets to grow in and we can be sure that it is going to tap into those markets sooner or later.
The biggest strategy that made Honeywell leave its competitors behind was its effective digital marketing strategy.
Digital marketing is crucial since it links a company with its clients when they are online and is effective across all sectors. It links businesses with ideal consumers through SEO and PPC on Google, social media marketing, and email marketing. If you would like to learn more and develop skills, check out IIDE’s 4-Month Digital Marketing Course to learn more.
Alternatively, you can enrol in one of our free online masterclasses led by IIDE’s CEO, Karan Shah, to gain insight into the field of digital marketing.
We hope this blog on the marketing strategy of Honeywell has given you a good insight into the company’s marketing strategies.
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