How to 10X Your Revenue … the Stanley Way 🔥
All Marketers are scientists. We observe patterns, deep dive into customer insights and data, and whittle down our observations into models or hypotheses to be tested.
And then we test.
A lot.
Our goal is to operationalize positive results and repeat positive outcomes. We tend to repeat what’s working and reject what fails.
And we learn from winning brands. Like Stanley.
A 111-year-old company that completely transformed its product line to meet the demands of a new audience, and 10x their revenue in the process.
Here’s how they did it (Steal their strategy for your product)
Stanley invented the vacuum-sealed bottle in 1913, catering to a primary target audience of men with rugged careers or lifestyles. Think construction workers, heavy machine operators, factory employees, mountaineers, etc.
The primary need of this segment?
To stay hydrated on-the-job or on-the-move, making the Stanley bottle “an essential part of workdays, road trips, and outdoor adventures.”
Then, in 2017, a popular women’s blog (”The Buy Guide”) posted about the Stanley Quencher, “Of all the insulated cups ... this is the one. Just trust.” Followers of the blog started to buy the cup. It was all organic. And Stanley was either unaware or unwilling to tap into this new segment.
Until 2019.
When "The Buy Guide" Founders informed Stanley of rising reader interest, Stanley had the bloggers order 10,000 units to test the market. All 10,000 cups sold in 3 days.
Instead of being content with this sudden and unexpected success, Stanley doubled down on this segment.
Thanks to Stanley’s new Global President, who had a background in, and really understood, Marketing – the brand partnered with influencers, and sales of the Quencher cup spiked through the roof.
Millennial women went crazy and the Stanley cup went viral.
Stanley decided to go all in – launching new pastel colors, partnering with brands like Starbucks and Target, engineering periodic seasonal launches (that had waitlists of thousands of women and sold out within a few hours every time).
“In 2022, there was a 275% increase in sales of the Quencher year over year, and U.S. sales of all sizes of the tumbler were up 751% in the year to date.” – a Stanley representative.
They went from $75 million a year in sales (2019) to over $750 million per year (2023).
It’s made it to the Time 100 Most Influential Companies list (2024).
Stanley is now a viral phenomenon among millennials and Gen Z alike. Accessories like the viral TikTok attachable snack bowl, watter bottle pouch, snack ring, and straw caps are flying off the shelves faster than you can say "Macarons".
✨ Lesson from the Stanley model: Learning to pivot can be your superpower ✨
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