You would have been hard pressed to get through the weekend papers without escaping any reference to the King. And, I’m not talking about Michael Jackson. Instead, I’m referring to Will King, founder and CEO of King of Shaves. The reason for this is that last week, he launched the Shaving Bond. This is a corporate bond that aims to attract funds for their marketing war chest in their fight against Gillette.

This brand building idea is ingenious on so many levels. So many levels that I’m not quite sure where to start, so in no real order…

A brand you can trust

In the current climate of dishonest and untrustworthy politicians and banks, choosing where to put your money is tricky business. And yet, here is an opportunity to put your money behind one of the fastest growing brands around. Not only that, but Will King is proven when it comes to building assets. After all, he knows how to manage money as he’s built a hugely successful business over the last 16 years. Politicians and banks can’t claim that one very easily. So, in terms of trust, he’s got that one nailed. That’s no mean feat; give the guy some credit.

It’s a win-win!

Will King is predicting that his business will double in the next year. For those of you that struggle with percentages, that’s +100%. So, to offer a +6% return on an investment means that he is going to be quids in. But so are the investors. The majority of investors out there would be hard pressed to find a better return than 6%. Especially one that comes with free King of Shaves products. The free product bit is so neat. For KoS, giving away free product is nothing, but the perceived value to the consumer is massive. Consumers love a bit of FREE.

I saw King speak recently at the British Library and he was asked how he measured his marketing spend on advertising. The response quite simply was “Sales! We sell loads of product”. King knows that lack of awareness is their biggest barrier. He calls it their “biggest competitor”. So, King knows that if he could just spend more on advertising, then sales will follow. The problem is, he needs to the cash. So, what are his options?

Get your customers to pay for it!

Well why not? Most brands pay for their marketing through their premium prices. Taking this route allows King of Shaves to keep their prices competitive during these “tough times” while offering consumers a return in more ways than one. I also think that the transparency is going to be respected. They’re quite blatant in telling us that they’ll spend the money on marketing and advertising. And so, consumers get to choose as to whether they take part in this. You don’t get that choice with many other brands. You pay or go elsewhere.

Now, back to the lack of awareness issue. What better way round this than to get your name out there? Mmmm… now let’s think, how could he do this. Well, you could try and pull a big PR stunt that gets you into all the papers.

A PR stunt?

The press coverage for the Shaving Bond has been pretty impressive. Oh sure, it helps that they’ve been spending a little cash on advertising, but nonetheless. To secure coverage in wide ranging publications like The Sun, The Times, Brand Republic, Management Today and Marketing Week makes for a great PR stunt. The value of the PR alone will make this exercise worth it, even if no-one signs up. But, the reach achieved with this coverage would probably surpass anything they could hope to pull off with any ad campaign. And that coverage was despite the other “King” that hit the news this week.

Consistency of message

I can’t help admire the PR aspect of this initiative. Having worked on PR stunt campaigns, I know how hard it can be to ensure that when your story gets out there, the journalists are saying the right thing, consistently. After all, you have no editorial control. But, for this campaign, the message that keeps coming through is “It’s not just a better way to shave, it’s a better way to save”. And that comes straight from King himself. Great brands are built on consistency, and these guys clearly know what they’re doing.

And finally…

What a great name!

This name is a marketer’s dream. It’s just so perfect! I won’t go on as Shaving Bond speaks for itself.