With recent news of the frenzy in US stores when a new limited edition was launched, I’ve been watching with interest the Stanley story and their Quencher cup. How did a company with a 110 year history manage to expand its customer base and evolve to be one of the leading brands in the drinkware industry in less than three years?
As a bit of background, William Stanley Jr created the first vacuum insulated steel bottle in 1913 having spotted a gap in the market when he wanted to keep his drink hot all day. It was marketed as a worksite essential or for outdoor activities to men in traditional ‘hammertone’ green.
Roll on to 2019 with revenues of $70m when an online shopping blog, ‘The Buy Guide’ hailed the new Quencher product ‘the one’. A bulk order, going viral on social media, collaborations and partnerships and Stanley now have projected revenue of $750m for 2023.
Brands can view this as a valuable lesson from the customer experience playbook. Some observations:
- Pay attention to your employees: It was one of them who initially suggested exploring ‘The Buy Guide’ blog and Instagram as a potential new avenue. Your workforce is a valuable source of knowledge, so devise methods to capture their insights through the Voice of Employee.
- Customer Immersion: I have written before on this as a powerful tool to guide Executives and senior leaders in strategy and decision making. Stanley’s Global President, Terence Reilly, utilised this approach by spending time with ‘The Buy Guide’ founders and the outcome was a redesigned product in pastel colours, making the Quencher their best-selling item.
- Understanding your target market is crucial. In Stanley’s case, diversifying to a new audience required a deep understanding of their key drivers and preferred marketing channels. Social media played a pivotal role in the success of the Quencher (750m views under #StanleyTumber on TikTok). Leveraging effective affiliate and targeted marketing, Stanley honed in on the desires of this demographic, continuing to innovate and iterate to meet their evolving needs.
- Define your purpose and value proposition clearly as part of your CX strategy. Stanley exemplifies this by emphasising its robust heritage, creating trust through its ‘Built for Life’ and sustainability (check out the video of the Stanley Cup in the burnt-out car wreck!). Into the mixing pot goes mass appeal and FOMO and Stanley have effectively balanced the technical, functional and emotional aspects of its brand.
- Advocacy: Recognise the influential impact of recommendations on your customer experience. They not only affect personal networks but also shape online sentiment, particularly through social media. This dynamic can generate excitement, stimulate demand, and foster brand advocacy.
Understand your customers, meet their needs and don’t be afraid to innovate your brand