Last year the story of Stanley’s meteoric success was all over the news, even covered outside the unusual marketing watering holes. But they nearly missed this golden opportunity.
One tough, reliable brand in decline
A more than 100-year-old American thermos brand, Stanley is well-established as being reliable and rugged, mostly among male outdoor enthusiasts and construction workers.
And they had the colors to match: green, blue, silver, and even plaid.
With a legacy like Stanley’s, you can imagine how executives might be reluctant to expand their product range beyond their standard ‘toolbelt-toting tough guy’ segment and reposition their brand for the mostly fashion-conscious working moms of suburban America.
But that’s what they did. In part because they didn’t have much of choice—their core product had been in decline for years.
Even so, executives at the time felt catering to this new market would be a compromise. They argued it would weaken their identity and the strength of the Stanley brand. They wanted to play it safe.
In with the old, in with the new
Instead, the Chief Executive, Bob Keller and Sales Associate, Lauren Solomon, recognized how this segment, driven by wellness and fashion influencer trends, was already using their product.
And, guided by this insight, they chose to break convention, take action, and double down on a seemingly off-brand product for a brand-new segment.
And we all know the result—Stanley 10x’d their sales in five years, all without sacrificing any of their identity or alienating their most devoted, old-school Stanley fans. Win-win-win.
Of course, this break with tradition wasn’t the only factor in their success. Macro-trends like health and fitness, personalization, the premiumization of everyday items, and environmental consciousness (well, at least at first) were also major contributors.
How to keep your brand piping hot
Heritage, your brand DNA, positioning—they aren’t just important, they’re absolutely vital for building enduring brand equity. You pick a strategic bearing for your brand and you hold the wheel. That’s just good brand strategy.
But that doesn’t mean we can afford to treat brands like they’re untouchable.
In this case, Stanley understood what too many legacy brands fail to recognize:
- Don’t assume your audience is set in stone. Your product might appeal to others far beyond your core segment you han’t yet considered
- You can do something radical and unconventional with your brand and still keep your heritage intact
- A well-informed brand strategy can provide even well-established brands with the opportunity to become challenger brands, if only for a new segment
In the end, brands have two choices—adapt to the market or lose market share.
Being safe is risky after all. And besides, it’s kinda boring.
And isn’t ‘boring’ where brands go to die?
