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These Stanley cups are teaching us a MULTI MILLION DOLLAR LESSON:
Sometimes you don’t need a new product… you just need a new audience!
Stanley is a 110 year old company and in 2019 they hit $73 Million dollars in sales
Their primary target audience were working men who needed to stay hydrated on the job sites, while hiking, etc, etc.
In late 2019/2020, a popular blog for women posted about this cup and her audience of women went crazy over it.. causing it to go viral several times. Instead of brushing off this sudden surge in sales from a new and unexpected audience (like many brands do)….
Stanley’s new Global President (who has a strong marketing background) decided they should go all in on this new woman audience. They launched brand new colors that were pastels and colorful (opposite of what they had done for the last century)
They did collaborations with influencers and other popular brands like Starbucks. They created waitlists of thousands of women and sold out for every new launch.
In 2023, they were projected to hit $750 Million Dollars in sales!
Sometimes you can have a winning product in your back pocket… you just need to get it in front of the right or new audience...
-Michelle Martin, a Facebook Mom
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