You may be familiar with the name Speedway, as the company sponsors numerous sporting events, including the Indianapolis 500 and the NASCAR Sprint Cup. What you may not know is that Speedway actually stands for something more. While most companies would choose to keep the meaning of their brand secret (or, at the very least, private), Speedway goes above and beyond to ensure their clients know exactly what they are supporting.
A Brand With A Conscience
To learn more about the brand and how they handle customer service, I spoke with a representative from the company who offered me a behind-the-scenes look at what makes Speedway special.
“We’re often asked ‘Why Speedway?’ And our answer is pretty straightforward,” Mike Helms, the company’s Director of Corporate Communications, told me. “We’re a brand that genuinely cares about what they promote. As a company, we strive to ensure that our customers are given first-class treatment every time they make a purchase with us. We want to ensure that they feel like their needs are being met and that their interests are a primary focus when dealing with our brand.”
While most companies would choose to keep the meaning of their brand secret (or, at the very least, private), Speedway goes above and beyond to ensure their clients know exactly what they are supporting.
A Company That Values Its Customers
Speedway is a member of the Retail Trading Group, which represents the coffee, food, and beverage industries. The group advocates for issues such as sustainability and workplace harmony, and encourages its members to adopt a ‘customer first’ approach to business.
“It’s great to work with a company that not only understands the importance of keeping their customers satisfied, but values them highly,” said Eric Jacobson, Director of Operations for the Retail Trading Group. “The coffee and food industries are growing rapidly, and companies like Speedway that understand this need to develop a more personalized relationship with their customers.”
An Independently-Owned Business
In an effort to bring more fairness to the retail coffee industry, the group pioneered a certification program that independently verifies each coffee farm’s compliance with sustainable growing practices and fair wages.
To earn ‘Green Latte’s’ certification, which stands for ‘sustainable and ethical coffee,’ a coffee farmer must adhere to the following guidelines:
- Sustainably Grow Coffee Plantations
- Pay Fair Wages
- Reduce, Reuse, Recycle
- Minimise Waste
- Develop Their People
- Provide Safe Working Environments
- Conserve Water
According to Jacobson, the program is designed to raise the bar and bring more fairness to a sector that, until now, has been dominated by a few large companies. Currently, there are more than 500 coffee brands, both large and small, across the globe that have earned ‘Green Latte’s’ certification.
An Established Brand With A Narrow Mindset
In this day and age, consumers are bombarded with an endless stream of information, which makes it increasingly difficult to get noticed in a sea of similar products.
To tackle this problem, and to ensure their customers knew exactly what they were purchasing, Speedway, decided to go the extra mile and offer consumers free samples of their signature drink. Not only does this allow them to test-drive the product before buying it, but it also creates a sense of familiarity to encourage repeat business. When asked about the strategy, Helms said it was simply a matter of following consumer behaviour. “As a brand, we’ve recognised for a while that the best way to win over a customer is by giving them something valuable to talk about. Free samples are a great way to do that. It might not be the cheapest strategy, but it’s definitely one of the most effective ways of getting your brand name out there and making somebody conscious of what you’re doing.”
Although the strategy may seem obvious, in this day and age, consumers are bombarded with an endless stream of information, which makes it increasingly difficult to get noticed in a sea of similar products.
To tackle this problem, and to ensure their customers knew exactly what they were purchasing, Speedway, decided to go the extra mile and offer consumers free samples of their signature drink. Not only does this allow them to test-drive the product before buying it, but it also creates a sense of familiarity to encourage repeat business. When asked about the strategy, Helms said it was simply a matter of following consumer behaviour. “As a brand, we’ve recognised for a while that the best way to win over a customer is by giving them something valuable to talk about. Free samples are a great way to do that. It might not be the cheapest strategy, but it’s definitely one of the most effective ways of getting your brand name out there and making somebody conscious of what you’re doing.”
A Company That Understands How To Market To Millennials
One of the defining factors of a successful brand is the ability to meaningfully connect with audiences that aren’t your typical customers. In today’s world, that means you have to be mindful of how you market yourself, as well as what you offer, to ensure you reach the right people. For instance, if your product is primarily targeted at older audiences, you might want to reconsider how you approach marketing and branding.
That’s one of the main reasons why, when asked about the demographic they cater to, Helms responded by saying “Millennials.” According to the U.S. Census Bureau, millennials are now the largest generation in the U.S. population, which makes up more than half of all Americans. Now in their 20’s and 30’s, many millennials are entering the workforce with an entirely different mindset than previous generations. Rather than accepting jobs that they’re told to take and not ask questions about, millennials are more apt to search for the meaning of their work, as well as how they can best contribute to the greater good.
“As the largest generation now entering the workforce, millennials are changing the workplace in ways that weren’t previously possible. While it’s still early days, we’re already seeing positive effects from this new approach,” said Jacobson. “Based on our research, millennials are more likely to become lifelong customers of a brand than any other group. If a brand can figure out how to speak to them, and offer them value, they’re likely to remain loyal to that brand for the rest of their lives.”
A Believer In Community
Besides handling customer relations professionally, Speedway also takes a more civic-minded approach to promoting their products. Specifically, they’ve chosen to get involved in important community causes, such as youth empowerment through sport, and fostering a more inclusive workplace.
On June 12, 2019, for example, Speedway will become the title sponsor of the inaugural ‘Green Mountain Boys’ Basketball Tournament,’ an annual event held in their hometown of Indianapolis. The tournament, which pits local high schools against one another, was started in 1958 and honors Willy B., a local barber and coach who inspired the annual event. “This is an exciting opportunity for us to get involved in an important local charity event and show our support for youth empowerment through sport,” said Helms. “As an independently-owned business, it’s a rare chance for us to have an impact on the local community.”
In January 2020, Speedway will become the title sponsor of the inaugural ‘Green Mountain Winter Games,’ an annual, invitational cross-country skiing event that brings together some of the best skiers in the world. According to the website, participants travel from around the world to take part in the championships. The event is named after the Brothers Grimm’s famous fairytale, The Snow White.
As a way to attract more consumers, and to encourage them to become brand advocates, many companies, including Speedway, are providing perks to customers to encourage them to become brand ambassadors. One of the most popular of these loyalty programs is Fortune Favors the Brave, which enables you to gain some status with the company by becoming a brand ambassador. To qualify, you must be one of the first 50 people to register an account with the brand, which you can do by visiting a participating store and making a purchase of $25 or more. Once you’ve made the qualifying purchase, you’ll receive a kit that includes a goody bag, a hat, and temporary tattoos. The more you shop, the more tokens you earn, which you can then convert into perks that vary from discounted product to an extra bottle of water.