The rise of YETI
Here at The American Genius, we feel the term “cult” gets a bad name. In fact, we find it beautiful. It’s the product of keeping promises and delivering remarkable experiences to consumers time and time again until they have no choice but to love a product or service unconditionally. That’s not just gold for your business, but it’s a grand human experience to build a relationship founded on trust and loyalty (and a leeeeeetle bit of fanaticism).
We’ve written about cult followings before, like the Crossfit craze. However, we can understand if you’re a bit skeptical when we tell you that a company making coolers is cultivating a similar craze amongst consumers. However, the facts don’t lie. In six years, YETI sales grew from $9 million to $450 million. Sales are so strong, they can barely keep certain products in stock.
All this over a 300 dollar cooler. Yep, 300 dollars for something you usually pick up for no more than 50 bucks at any no-name Walmart.
Confused? Don’t be. This story isn’t rocket science; just good old fashioned product innovation and saavy marketing at their finest:
YETI didn’t just make a better cooler; they made a luxury product
Those janky, $50 Walmart coolers don’t cost much for a reason; their functionality is a bit limited. So, there’s plenty to improve on. But a Yeti Cooler isn’t just an improvement; it’s damn near perfect.
It’s practically indestructible. So indestructible that it’s grizzly proof. It also keeps ice frozen for a long-time. Long enough that you will still have ice after a long weekend trip in many cases. Combine those things together, and it’s not hard to believe that when a fire engulfed a vehicle, the YETI Cooler and the ice inside it survived the inferno.
Excessive? For most, maybe. However, there’s a beauty in its utilitarian luxury. And they have expanded this utilitarian luxury beyond coolers to products ranging from tumblers to soft-side coolers to bottle openers.
It’s not uncommon to find brands that succeed on a platform of relentless perfection of their product; Apple, Harley Davidson and Ferrari come to mind. Consumer trust in the quality of the product, be it durability or user-friendliness, forms a strong foundation for a relationship with your customers. Here, Austin-based YETI is no different, and more than ever, it’s necessary to be remarkable to achieve the business success you want.
Marketing to aspirations
YETI Cooler’s marketing focuses intently on the ideal outdoorsy lifestyle, and it has kept that focus throughout the product’s lifetime.
“The aspirational use and the actual use don’t always have to be the same thing,” said YETI’s VP of Marketing Corey Maynard. “We want our communication to stay as absolutely authentic to the hardcore user from the hardcore user as we possibly can.”
Influencers aren’t just Instagram yoga girls
From the beginning, YETI has marketed the cooler to people like the founders; passionate and respected outdoorsmen whose passions drove them to own the latest and greatest gear. To do this, they hired influential guides and fisherman as brand ambassadors. They also sponsored programming on hunting and fishing TV stations. All of these early efforts earned the trust and recommendation of “influencers” and “prosumers.”
“Those commercials didn’t reach millions of people, but the people that they did reach were the most serious hunters and fisherman,” Maynard said. “So it would reach 100,000 or so hardcore hunters and fishermen who would be the person within their circle of friends who their buddies would ask about the latest gear.”
When they did land the sale, YETI made sure they could advertise that too. In the beginning, the company handed out stickers and hats with each cooler sale as a way to kick start conversations about the brand.
All of these factors created a “grassroots marketing goldmine,” where word-of-mouth made a lot of difference. That, combined with the aspirational messaging, creates a tribe where consumers feel included as a part of something bigger than themselves. So, as you go about marketing your business, consider these key concepts in your model. It could be just what you need to take your business to the next level.
This story was first published on May 6, 2016.