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steal stanley cup's marketing strategy that 10x its revenue. www.iammichellegifford.com

Steal the Stanley Cup’s Strategy That 10X Its Revenue 

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Steal the Stanley Cup’s Strategy That 10X Its Revenue 

In the last 4 years, the Stanley Cup has gone from a $75 million net worth to $750 million. Crazy, right? How did they do it? The Buy Guide, an influencer company, played a huge role in this success story. You can hear all about the start of the Stanley Cup and how it became so popular HERE. We are diving into some key strategies that Stanely and The Buy Guide used to increase sales. Here’s everything you need to know to steal the Stanley Cup’s strategy that 10X its revenue. 

 

 

Just a quick backstory–Stanley is a 100-year-old company that sells all types of outdoorsy equipment, camping gear, and things of that nature. This camping line is where it was selling the Stanley Cup. It was actually discontinued because it was performing poorly. The ladies from The Buy Guide convinced them to give it another shot and through their strategies and marketing they revived the Stanley Cup and now almost everyone you know has one. 

 

steal the stanley cup's strategy that 10x its revenue. www.iammichellegifford.com

 

Steal the Stanley Cup’s Strategy That 10X Its Revenue

Now that you know the quick version of their success story, let’s dive into the specific strategies they used to make this happen. These strategies can be replicated in your business and marketing strategies. That is the whole point of this post–I only share information that will help you in your business and there’s a ton we can learn from this one! 

 

Stanley Cup’s Marketing Strategy #1: Sell to your customer’s pain points.

If you have heard an influencer talking about Stanley Cups, you would hear them bring up the handle, how it fits in your cupholder, how it has a straw, and it’s 40 ounces, so you can keep it with you all day and not have to fill it up every two minutes. 

Focusing on these features of the Stanley Cup speaks to the pain points of the target audience. The target audience is women between the ages of 25-55. These women are the ones driving around in their cars, having their hands full of backpacks, little hands, groceries, etc. so having a cup with a handle is a game changer. 

Think about the product you sell. Now think about the problem your target audience has. How could you market your product in a way that solves their problem? This should be the whole reason why you are in business. You have a product that can solve someone’s specific problem and now you just need to help your audience see that. 

When you talk about your product as the solution and get super specific on the problem it will solve, then people will want to buy it. When you say things like it will make your life so much easier having this product, that’s not specific enough. Share the exact way this product will help in their lives. 

 

Stanley Cup’s Marketing Strategy #2: Create an influencer marketing campaign. 

I hesitate to share this one because I don’t want you to think you have to get a lifestyle influencer to market your product. However, I want you to start looking around at people who are influencing your target market and how you could work with them. 

In the Stanley Cup case, they set up an affiliate program. This was a huge hit for them because it created a win-win scenario for the company and the influencers. They also reached out to very specific people to start sharing about it, and because of that the cup exploded. 

The whole point of selling your product is figuring out how to get more people talking about it. A great way to do this is by creating an influencer marketing campaign that focuses on your target market. To start, choose 10 influencers to give your product to and get them talking about it naturally. 

Sometimes it’s worth it to pay the influencer to market your product. If you go this route, you’ll definitely want to set up a written agreement so you can get specific on your requirements and ensure they will post about your product. You don’t have to pay them–you could just send them your product but that’s more of a gamble and you won’t be sure if they talk about it, what they would say about it, etc. 

If you want consistent sales, I definitely recommend making influencer marketing a part of your regular strategy. Put it on your to-do list to reach out to 5 influencers a month who could use and market your product on their platform. The more you work with influencers, the more you will notice which influencers bring you the most sales and those will be the ones you can continue to work with. 

 

3 marketing strategies to steal from the famous stanley cup business. www.iammichellegifford.com

 

Stanley Cup’s Marketing Strategy #3: Increase lifetime customer value. 

When Stanley Cup started selling the same cup (or different versions of the cup) in different colors, this dramatically increased the lifetime customer value. Now, people don’t think they need just one tumbler, but now they need two or three–or even more. 

If you are not familiar with the term, “lifetime customer value”, it basically means how much a customer will buy from you over a lifetime. When you give your customers reasons and products to buy from you more than once, this will dramatically increase your revenue. 

Here are a few ideas of how you can increase your lifetime customer value:

  • Adding complimentary products. This could look like you including a product your customers get for free when they purchase another of your products. 
  • Bundling products. What other products pair nicely with the product they want to purchase? Which bundled products would improve their experience? Find that answer and then start to bundle those items together when marketing them. 
  • Create a product your customers can use regularly. When you sell this type of product, your customers will come back again and again to purchase another one. To help them know when to come back for another purchase, you need to be really proactive about communicating when they need to renew their product. Let’s say you sell a product that lasts about 3 months. You could send an email at that 2 ½ month mark sending them a reminder and a coupon code to order it again. 
  • Listen to your customers and create products for them. Create a specific time and space for you to get feedback from your audience. (This could look like you taking a poll in your Instagram stories). Take that feedback and apply it to the products you could create and sell to your customers. 

 

how to market your products that will 10x your revenue. www.iammichellegifford.com

 

Steal the Stanley Cup’s Strategy That 10X Its Revenue

There are so many things we can learn from Stanley. My hope is that you can start looking at other businesses’ success with a strategic eye and figuring out how they did it and how you can do it for your business too. Start with this post and steal the Stanley Cup’s strategy that 10X its revenue. These same strategies can work for you and your business too, no matter its size. For more tips and strategies for growing your business, make sure you’re following me on Instagram @iammichellegifford

P.S. Join my Insta Social Society HERE where you’ll get monthly content plans, trending audio, and training from me sent directly to your inbox. If you need some direction on your Instagram strategy, this is the best place to start!

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