Why All Brands Should Study Stanley Cup CEO Terence Reilly's Marketing Masterclass

Summary

The 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

• 🔄 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.
• 📈 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.
• 💡 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.
• 🌟 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.
• 🛍️ 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.
• 🚗 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.
• 🤝 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.
• 🛠 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.
• 🏆 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.
• 🚨 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.
• 📚 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

00:00

🚀 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.

05:01

🛡️ 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.

Keywords

💡Stanley Cup

The Stanley Cup is a reference to the brand Stanley and its iconic product, the water bottle. In the video, it symbolizes a hot product that has gained popularity through effective marketing and community building. The script mentions how Stanley's revenue significantly increased due to the popularity of its reusable water bottles, which are now a sought-after item, largely influenced by social media platforms like TikTok.

💡Product Marketing

Product marketing is the promotion and selling of a product, often through various channels and strategies. In the context of the video, it highlights how Stanley has leveraged cultural momentum and social media to turn its water bottles into a hot commodity. The script discusses the company's diverse marketing approaches, including partnerships with content creators on TikTok, which have helped to reframe the brand within different cultural contexts.

💡Cultural Momentum

Cultural momentum refers to the influence or impact that a trend, idea, or product has as it becomes widely adopted or discussed within a culture. The video uses this term to describe how Stanley's water bottles have become popular, not just as a product, but as a part of a cultural phenomenon. The script points out that people are buying into a community and a shared experience, which is a key aspect of the product's appeal.

💡Community

Community, in this video, refers to a group of people who share common interests or affiliations. The script emphasizes the sense of community that Stanley has cultivated among its customers, who identify with the brand and its products. This sense of belonging is a significant factor in the product's success, as it creates a shared identity and a platform for social interaction.

💡Scarcity

Scarcity is an economic concept that refers to a shortage of supply in relation to demand. In the video, the term is used to describe the appeal of limited edition Stanley products, which create a sense of urgency and desire among consumers. The script mentions the power of scarcity in driving demand and how it contributes to the product's popularity.

💡Social Commerce

Social commerce is the use of social media platforms to facilitate online shopping and e-commerce transactions. The video discusses how social commerce has not only catalyzed the popularity of Stanley's products but also created a community around them. The script highlights the importance of social media in building brand awareness and driving sales.

💡Brand Affinity

Brand affinity is the emotional connection that consumers develop with a brand, often leading to loyalty and preference. The video talks about how Stanley has built brand affinity over time through consistent marketing and quality products. The script suggests that this affinity is a result of the company's focus on building a relationship with its customers rather than just selling a product.

💡Co-creation

Co-creation is the process where a company involves its customers in the creation or development of a product or brand narrative. In the video, it is mentioned that brands are not solely owned by the company but are co-created with the people. The script uses this concept to explain how Stanley has successfully involved its customers in the brand's story, leading to a stronger connection and community.

💡Cultural Contagion

Cultural contagion refers to the spread of ideas, behaviors, or products within a culture, often through social influence. The video uses this term to describe the rapid and widespread adoption of Stanley's products, which have become a cultural phenomenon. The script suggests that the company's success is due to its ability to ignite a cultural contagion around its brand.

💡Identity

Identity in the video refers to the sense of self or the way individuals define themselves, often through affiliations, possessions, or beliefs. The script discusses how Stanley's products have become a means for people to express their identity and connect with others who share similar tastes or values. This aspect of identity is a key driver of the product's appeal and the community that has formed around it.

💡Demand and Desire

Demand and desire are economic terms that refer to the quantity of a product that consumers are willing and able to buy (demand) and the longing or craving for something (desire). The video uses these terms to illustrate the high level of consumer interest in Stanley's products. The script provides examples of situations where demand and desire for the product have led to significant consumer behavior, such as the chaos at Target stores during a limited edition release.

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