--- title: "A Concise Guide To Virgin Galactic’s Sales Strategy" id: 5303 type: "post" slug: "a-concise-guide-to-virgin-galactics-sales-strategy" author: "NSE" published: "2023-05-22T23:03:14+00:00" modified: "2024-02-26T09:34:34+00:00" canonical: "https://newspaceeconomy.ca/2023/05/22/a-concise-guide-to-virgin-galactics-sales-strategy/" markdown_url: "https://newspaceeconomy.ca/2023/05/22/a-concise-guide-to-virgin-galactics-sales-strategy.md" description: "This article provides an overview of the Virgin Galactic sales strategy. The analysis is based upon SEC filings, sales collateral, media interviews, and other…" language: "en-US" category: - "Space Economy" - "Space Technology" post_tag: - "Business" - "Gravity" - "Human Spaceflight" - "Marketing" - "Microgravity" - "Sales" - "Space Travel" - "Spaceflight" - "Strategy" - "Virgin Galactic" --- # A Concise Guide To Virgin Galactic’s Sales Strategy This article provides an overview of the [Virgin Galactic](https://www.virgingalactic.com/) sales strategy. The analysis is based upon SEC filings, sales collateral, media interviews, and other publicly available information. ## Company Mission Statement We are the world’s first commercial spaceline, and our purpose is to connect people across the globe to the love, wonder and awe created by space travel. ## Value Proposition A high-end luxury suborbital spaceflight experience which is: - Personally fulfilling, - Transformative, and - Exclusive. ## Product Offer ![](https://i0.wp.com/newspaceeconomy.ca/wp-content/uploads/2022/02/img_1924-3.jpg?resize=696%2C392&ssl=1) *Source: Virgin Galactic* *Source: Virgin Galactic* Virgin Galactic’s suborbital spaceflight experience includes: - Flight in Virgin Galactic’s unique spaceflight system to suborbital space. - A view of the Earth from a high altitude that allows customers to see the curvature of the Earth and the blackness of space. - A period of zero gravity. - The opportunity to refer to themself as an astronaut, e.g. [social differentiation](https://dictionary.apa.org/social-differentiation), status symbol. - Membership in the Future Astronaut (customers with reservations) and Astronaut Alumni community (customers who have flown in space). The prices start at $450,000 per person. Exclusive luxury experiences and product offers, are available at additional cost for the Future Astronaut and Astronaut Alumni. Virgin Galactic’s flights launch out of [Spaceport America](https://spaceportamerica.com/) in New Mexico. [Spaceport America](https://spaceportamerica.com/) is the world’s first purpose-built commercial spaceport. ![](https://i0.wp.com/newspaceeconomy.ca/wp-content/uploads/2022/02/img_1801-1.jpg?resize=696%2C487&ssl=1) For an overview of Virgin Galactic’s spaceflight system, please see this article [TECHNOLOGY OVERVIEW OF SPACE TOURISM LAUNCH SERVICE PROVIDERS](https://space-economy.space/2022/02/12/technology-of-the-space-tourism-launch-service-providers/). ## Customer Experience ![](https://i0.wp.com/newspaceeconomy.ca/wp-content/uploads/2022/02/img_1769.jpg?resize=696%2C392&ssl=1) *Source: Virgin Galactic* Preflight activities include exclusive networking events, and media events. The flight experience consists of 4 days as follows – Day 1 Welcome Day - Tour of [Spaceport America](https://spaceportamerica.com/) - Flight suit and gear fitting - Introduction to the flight profile - High G training Day 2 Cabin Day - High G training - Spaceship trainer reveal - Seat-fitting - Microgravity preparation Day 3 Rehearsal Day - Spaceship trainer familiarization - Full dress rehearsal - Preflight readiness review Day 4 Flight Day - Fly to space - Wings presentation - Celebratory party The customers’ experience continues post-flight with membership in Virgin Galactic’s Astronaut Alumni community. For more information on space tourism preflight experiences please read this article [AN INTRO TO PRIVATE ASTRONAUT PREFLIGHT TRAINING IN UNDER 5 MINUTES!](https://space-economy.space/2022/02/05/an-intro-to-space-tourism-preflight-training-in-under-5-minutes/) ## Total Addressable Market The $450,000 ticket price limits Virgin Galactic’s total addressable market to Ultra High Net Worth Individuals. This represents approximately 200,900 potentially viable customers. ![](https://i0.wp.com/newspaceeconomy.ca/wp-content/uploads/2022/02/img_2229.jpg?resize=696%2C300&ssl=1) *Note that Virgin Galactic’s original total addressable market, before the ticket price was increased from $250,000 to $450,000, was [approximately 2 million Ultra and Very High Net Worth Individuals.](https://newspaceeconomy.ca/wp-content/uploads/2022/12/virgin-galactic-q2-2020-earnings-presentation-8.3.20.pdf)* For information on how Virgin Galactic will make money please read this article [HOW WILL VIRGIN GALACTIC MAKE MONEY?](https://space-economy.space/2022/02/04/how-will-virgin-galactic-make-money/) A SWOT analysis is available in this article [VIRGIN GALACTIC’S STRENGTHS, WEAKNESSES, OPPORTUNITIES, AND THREATS (SWOT)](https://space-economy.space/2022/02/15/virgin-galactics-strengths-weaknesses-opportunities-and-threats-swot/). For a more detailed analysis on the space tourism market size and customer adoption challenges please take a look at this article [SPACE TOURISM MARKET ANALYSIS](https://space-economy.space/2022/02/08/space-tourism-market-analysis/). ## Customer Personas - **The Space Enthusiast** who’s lifelong dream has been to go into space - **The Adventurer** who views space as the ultimate adventure - **The Virgin Brand Lover** - **The Entrepreneur** who wants to be a space pioneer ## Marketing Strategy - Leverage relationships - [Virgin Group](https://www.virgin.com/) brand, and brand reputation for exceptional customer experiences. - [Spaceport America](https://www.virgingalactic.com/spaceport/) visuals and reputation as the world’s first purpose-built commercial spaceport. - [Land Rover](https://www.landroverusa.com/experiences/events-and-sponsorships/virgin-galactic.html) luxury brand reputation and exclusive offers, e.g. Range Rover Astronaut Edition SUV which is only available to registered Future Astronauts. - Publicity stunts to increase global brand awareness while keeping advertising spend low. - Digital marketing - Social media updates on what is happening at Virgin Galactic to maintain a strong brand presence. Social media is also a means to interact and engage with the media, potential customers and fans. - Inspirational website to generate leads and to provide information to the media, investors, potential employees, potential customers and fans. - [Digital brochure](https://newspaceeconomy.ca/wp-content/uploads/2022/12/virgin_galactic_brochure_web.pdf) - Video marketing on YouTube and other video sharing websites. - Publicity distribution using online marketing services to increase the reach of digital content. - [Earned media](https://en.wikipedia.org/wiki/Earned_media?wprov=sfti1) by generating newsworthy stories. - [Charity activities](https://www.galacticunite.com/) to promote the brand and brand values. ## Customer Engagement Strategy - Communications - Regular updates on progress and community events - Multi-channel delivery - CRM - Salesforce based - Store all customer data including records of communications and engagement - Provides three dimensional view of the customer, i.e. business, human, and hidden dimensions - Community activation - Events and activities around the world - Allows Future Astronauts to engage with Virgin Galactic and each other - Retain Virgin Galactic Alumni interest after flight - Style of service - Build relationships - Personalized to each Future Astronaut - Honesty, transparency and openness ## Sales Strategy - Experienced team specialized in reaching global ultra high net worth individuals - Leverage larger Virgin Group and their association with unique experiences - Dual channel sales strategy - Direct sales - Full-time sales professionals - Initial contact largely inbound through Virgin Galactic website - Referrals from Virgin Galactic/Virgin contacts and Richard Branson - Referrals from Astronauts, Future Astronauts, and repeat customers - Accredited Space Agents - Agents around the world each with an existing high-end customer base - Strong relationships with global networks specializing in luxury and experiential travel - Sales funnel management – ![](https://i0.wp.com/newspaceeconomy.ca/wp-content/uploads/2022/02/img_2233.jpg?resize=326%2C397&ssl=1) *Source: Virgin Galactic* ## Sales Results ![](https://i0.wp.com/newspaceeconomy.ca/wp-content/uploads/2022/02/img_2089-3.jpg?resize=696%2C365&ssl=1) *Source: Virgin Galactic* The results of Virgin Galactic’s sales efforts up to 2021 are documented in this article [Space Tourism Market Analysis](https://newspaceeconomy.ca/2022/02/08/space-tourism-market-analysis/).