Why All Brands Should Study Stanley Cup CEO Terence Reilly's Marketing Masterclass
Summary
TLDRThe video script discusses the unexpected resurgence of Stanley Cup as a hot product in 2024, largely due to TikTok influence. Stanley's revenue skyrocketed from $74 million in 2019 to $750 million in 2023, illustrating the power of effective marketing and cultural momentum. The brand's success is attributed to its community appeal and the diverse marketing strategies employed by its president, Terrence Riley, who also revitalized Crocs. The script highlights the importance of brand co-creation with consumers, the appeal of limited editions, and the challenges faced, such as theft incidents and health concerns over lead content, which Stanley addressed by emphasizing product safety.
Takeaways
- đ The Stanley Cup brand has seen a massive resurgence in popularity, with revenue jumping from $74 million in 2019 to $750 million in 2023, largely due to effective marketing and cultural momentum.
- đ Stanley Cup's success is attributed to community building and leveraging social media platforms like TikTok, where users share their experiences with the brand, creating a sense of belonging and identity.
- đĄ The brand's marketing strategy is diverse, using traditional means and new media to reach a wider audience and create a narrative that resonates with different cultures and communities.
- đ Stanley Cup's marketing savvy is highlighted by its ability to adapt and rework its products through the cultural frames of content creators on TikTok, attracting new audiences.
- đïž The company's president, Terrence Riley, is credited with the brand's success, having previously made Crocs popular during his time as Chief Marketing Officer at the footwear company.
- đ A viral TikTok video of a Stanley Cup surviving a car fire with ice still intact led to a significant marketing opportunity, showcasing the product's durability and quality.
- đ€ The brand's ethos is about co-creating the brand's meaning with the consumers, inviting them to be part of the brand's mythology and folklore, which builds trust and loyalty.
- đ Stanley Cup has historically been a utilitarian, masculine product, but has successfully expanded its appeal to new generations and audiences while maintaining its product quality.
- đ The brand has capitalized on the power of scarcity and limited editions, creating demand and desire among consumers, and has leveraged social commerce to build community.
- đš Despite challenges such as theft incidents and concerns over product safety, Stanley Cup has continued to grow, showing a strong understanding of its customer base and market.
- đ The brand's growth has been organic and mature, emphasizing the importance of building brand affinity and taking time to cultivate a loyal customer base.
Q & A
What product has become a hot item in 2024 that might not have been predicted in 1994?
-The reusable water bottle, particularly the Stanley Cup, has become one of the most sought-after forms of beverage containment in 2024.
What significant change in revenue did Stanley Cup experience between 2019 and 2023?
-Stanley Cup's revenue increased dramatically from $74 million in 2019 to $750 million in 2023.
What role does community play in the popularity of the Stanley Cup brand?
-The community aspect is significant as people are not just buying the Stanley Cup product, but also buying into the community of others who use the product, creating a sense of belonging and shared identity.
How does the marketing of Stanley Cup compare to other brands like Jolie the showerhead company?
-Both Stanley Cup and Jolie have leveraged customer engagement and social media presence to increase their popularity, with customers posting about their products and creating a sense of community around the brands.
What is the significance of the TikTok video featuring a woman's Stanley Cup surviving a car fire?
-The video demonstrated the durability and quality of the Stanley Cup product, leading to increased brand recognition and a marketing opportunity when the company offered the woman free Stanley products and a new car.
What marketing strategy has Stanley Cup employed to reach a wider audience?
-Stanley Cup has diversified its marketing approach by partnering with content creators on TikTok, who rework the brand's products through their own cultural frames, appealing to new audiences and contexts.
Who is credited with the success of Stanley's marketing strategy?
-Terrence Riley, the company's president and former Chief Marketing Officer of Crocs, is credited with making Stanley Cup a popular brand.
How has Stanley Cup redefined its brand to appeal to a new generation and audience?
-Stanley Cup has expanded its appeal by maintaining its product quality and utility while redefining the brand to be more inclusive and aspirational for a new generation and audience.
What challenges has Stanley Cup faced in its rise in popularity?
-Stanley Cup has faced challenges such as uncivilized situations at retail stores, thefts, and customer concerns over potential lead content in the products.
How did Stanley Cup respond to customer concerns over lead content in their products?
-Stanley Cup addressed the concerns by stating that while lead-containing sealing material is used during manufacturing, it is covered with stainless steel, making the cup safe for use.
What lessons can other brands learn from Stanley Cup's marketing success?
-Other brands can learn the importance of building brand affinity over time, understanding their customer base, and leveraging social media and community engagement to create a cultural contagion around their products.
Outlines
đ Stanley Cup's Unexpected Popularity and Marketing Genius
The script discusses the unexpected rise of the Stanley Cup as a sought-after product in 2024, starting from a modest $74 million in revenue in 2019 to a staggering $750 million in 2023. It attributes this success to effective marketing and cultural momentum, particularly through social media platforms like TikTok. The narrative highlights the sense of community and identity that consumers associate with the brand, drawing parallels with the showerhead company Jolie. The script also emphasizes the importance of product quality and the power of scarcity and limited editions in driving demand. The marketing strategy of Stanley Cup is praised for its diversity, leveraging various communication channels and content creators to reach new audiences and create a sense of belonging. The role of Terrence Riley, the company's president, is credited for steering the brand's success, using a playbook that invites consumers to co-create the brand's narrative, which in turn generates organic and trustworthy marketing content.
đĄïž Stanley Cup's Challenges and the Power of Cultural Contagion
This paragraph delves into the challenges faced by Stanley Cup, including incidents of theft and concerns over lead content in their products. The company addresses these concerns by assuring that lead-containing parts are safely sealed within stainless steel, making the cups safe for use. Despite competitors like Hydro Flask and aala using these issues to criticize Stanley, the brand continues to thrive due to its deep understanding of its customer base. The script also reflects on the importance of brand growth and maturity, suggesting that Stanley's gradual development has allowed it to build strong brand affinity. It contrasts this with the desire for instant success seen in many modern brands. The power of cultural contagion is highlighted as a key factor in Stanley's popularity, with the script noting that competitors are now looking to emulate this success by igniting their own cultural phenomena. The paragraph concludes by acknowledging the human desire for connection and identification, suggesting that Stanley Cup serves as an accessible and aspirational product that fulfills this need.
Mindmap
Keywords
đĄStanley Cup
đĄProduct Marketing
đĄCultural Momentum
đĄCommunity
đĄScarcity
đĄSocial Commerce
đĄBrand Affinity
đĄCo-creation
đĄCultural Contagion
đĄIdentity
đĄDemand and Desire
Highlights
Reusability and community branding have made Stanley Cups highly popular, especially through TikTok influence.
Stanley's revenue surged from $74 million in 2019 to $750 million in 2023.
The Stanley Cup brand is associated with a sense of community and identity among its users.
Stanley Cup's marketing success is attributed to its ability to reach new audiences through diverse channels.
The company has a 110-year history with minimal product innovation but effective marketing strategies.
Terrence Riley, Stanley's president, played a key role in the brand's resurgence, previously making Crocs popular.
A viral TikTok video of a Stanley Cup surviving a car fire showcased the product's durability.
Brands are co-created by the company and the community, which can lead to organic and authentic marketing.
Stanley has redefined its brand to appeal to a new generation and audience while maintaining product quality.
Scarcity and limited editions have been key in driving demand and desire for Stanley products.
Stanley faced challenges such as thefts and concerns over lead content but remained resilient.
Competitors like Hydro Flask capitalized on Stanley's challenges to promote their own products.
Stanley has a deep understanding of its customer base, which sets it apart from competitors.
The brand's growth was organic and mature, teaching a lesson in patience and consistency for brand building.
Stanley's marketing engine has evolved from a megaphone to a peer marketing approach.
The cultural contagion of Stanley has created a strong gravitational pull that competitors struggle to replicate.
The demand and desire for Stanley products are evident, showcasing the power of community and identity.
The human desire to connect and belong is met through products that offer cultural relevance and identity.
Transcripts
imagine going back to 1994 and asking
people what a hot product would look
like in 2024 chances are it wouldn't
resemble a Stanley
Cup yet here we are the reusable water
bottles are one of the most sought-after
forms of Beverage containment largely
thanks to Tik Tok Stanley's Revenue
jumped from $74 million in 2019 to $750
million in
2023 but look behind the massive sales
and there's a deeper case study in
effective product marketing and
leveraging cultural
momentum I think with the Stanley Cup
brand you're not really buying into
Stanley you're buying into the community
of all the other girls who have one in
their hand and it's very similar in my
opinion to Jolie the showerhead company
that's gotten pretty popular through
customers who post about it and you know
on one hand it's it's something to brag
about right you have this amazing piece
of Hardware in your home it's that with
the Stanley Cups as well but it's also
it's this sense of community like
everybody's got their Stanley Cup you
know everybody's staying hydrated it's
it's something that signals you know
only good
things Stanley Cups marketing has been
successful in the
diversity by which it's gone to Market
so mean sany cup is a 110 year old
company right and the products aren't
terribly novel since its conception 110
years ago like the only new product it's
had as far as a new actual product was
think in 2016 2017 the Quinter Tumblr
right they have different colorways
since but the product has been by and
large very much the same but the
marketing savviness of Stanley Cup is
its ability to not only do the
traditional marketing means but also
leverage other vehicles by which the
message is not only reaching new people
but done in new contexts right this uh
this diversity of of communication
derivative Works provides new
opportunities to bring new people into
the brand into the idea so they've
partnered with content creators
throughout Tik Tok that have taken the
brand taking its products and reworked
it through their own cultural frames for
people who self-identify or subscribe to
a similar culture as that
Creator the success of Stanley's
marketing is mainly credited to its
company's president Terrence Riley this
is the same man who made Crocs cool
during his 5-year stint as the Footwear
company's Chief marketing
officer after Riley saw the now famous
Tik Tok of a woman's Stanley Cup
surviving a carfire and still containing
ice he said it showed the product is
quote built for life and offered the
woman free Stanley and a new
car when I saw that he was at the H of
all this you go oh of course because it
is a very similar Playbook not in its
executions but in its ethos in that
brands are not owned by the company they
are stewarded by the company but they
are co-created their meanings are
co-created by the people and if you
invite people in to to co-create you to
co-author The Narrative you share the
pin with these people to be a part of
the mythology and the folklore they'll
do things that you could never do
they'll take you in places that you can
never be they'll provide a level of
media creates that you can never buy
because people trust people more than
any form of marketing
Communications Stanley the top All Steel
Thermos bottle that's completely
defendable Stanley has always been kind
of a blue collar utilitarian masculine
product right it had an efficacy it had
a utility and not unlike what Yeti has
done with coolers and and probably their
own tumblers and a portfolio of things
they've they've really found a way to
expand appeal to invite new users in to
capture a higher margin by redefining
the brand for a new generation and new
audiences but it's all rooted in the
product quality we see the absolute
power of scarcity the absolute appeal of
limited editions and and importantly
what we also see is desire um and demand
on full display right social commerce
hasn't just um kind of catalyzed this
it's created Community around it which
is yet another thing we see here which
is the power of community and ultimately
identity naturally Stanley's warp speed
rise in popularity has not been obstacle
free there were the uncivilized
situations at Target the woman who was
arrested for allegedly stealing $2,500
worth of Cups and customer concerns over
potential lead
content the company responded to the
concern saying it does use lead
containing sealing material during the
manufacturing process but that the lead
containing parts are covered with
stainless steel making the cup safe that
prompted competitors like Hydro Flask
and aala to take shots at Stanley in
social media posts and promote the
safety of their own products but none of
the appears to be slowing Stanley down
they have a much better grasp on who
their customer is and who's buying and
why they're buying than probably most of
the players in their category that sell
through retail if you look at Stanley as
a company it's not a company that was
venture-backed and forced to grow over a
couple years after launch it's a brand
that took its time to grow and mature
and build brand affinity and I think
that's a great lesson because a lot of
people who start a brand today they want
it to blow up tomorrow tomorrow and they
want you know millions of fans who are
Die Hard fans of their brand to be you
know really excited about what they're
doing but that takes a lot of time and
consistency and continuity over the
years the other one I think is figuring
out how you turn your brand or your
marketing engine into you know instead
of a megaphone more sort of a a peer
marketing engine I mean it's interesting
because Yeti Hydro flas like these folks
were sort of Main stays in in the
category and again I I've never seen an
ad for hydro FL you know I've only seen
content for Yeti particularly around the
coolers on online but never seen an ad
for it but it's the cultural contagion
of Stanley that has created such a
gravitational pull and I haven't seen
the other brand sort of been able to
leverage its power in in this way which
says to me there's probably a a lot of
folks looking at this case study their
competitors saying how do we if not do
our version of this but how do we in a
more Savvy way of looking at it how do
we ignite our own version of cultural
contagion in ways that are very unique
to us and the people who know us and
love us there's no question this isn't
just net positive it's NE incredibly
positive right and you know Mayhem at
Target which is what we saw when they
released a limited edition color right
you know first of all people are going
to people and that's not Stanley's fault
that's not Target's fault right you know
idiots are going to be idiots but again
what it does is it shows it shows demand
it illustrates desire it puts it on full
display we are all desperate right to
connect to belong to express who we are
to have a means of identification that
is culturally relevant and that's just
that's just humans being humans like we
were the same way with we were in The
Capes the architecture of our brains is
unchanged and I don't think it's that
bad to have what is a relatively
affordable quote unquote luxury an
accessible aspirational vehicle you know
if it makes you happy do it as long as
it doesn't hurt anyone
else
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