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Ep 384: Revitalizing a Hydration Empire – Dan Crosby and the BioSteel Turnaround Story
22 ideas de marketing sacadas de «Ep 384: Revitalizing a Hydration Empire – Dan Crosby and the BioSteel Turnaround Story», de DTC Podcast. Sobre todo de…
- 22 ideas despiezadas
- Fuente DTC Podcast
- Dura 55 min
- Publicada en 2024
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Canales de adquisiciónAntes de gastar, exige saber qué retorno esperas y cómo vas a medirlo. Si no puedes rastrear el resultado, no es marketing: es apuesta. La misma regla aplica a $1 o a $10M.
show every dollar I spend I better see 10 back it doesn't matter if I'm spending a 100 million to get to a billion or or a dollar to get to 10 that's the way that I ran Canadian 10 back it's kind of like our rule or you know we we Veer from the rule or whatever but you know as a general rule thumb you know I if it doesn't matter if I'm spending $1 or a 100 million to get to a billion or a dollar to get to 10 it's the same ratio I want to see something along those lines right so Performance Marketing you're not spending into a black hole for the for a future return right so the issue so so…
Escúchalo en el minuto 1:21
Canadian Protein genera $10 por cada $1 en ads
Medición y experimentosEn e-commerce, la regla de Dan Crosby es que cada dólar invertido en publicidad debe producir diez dólares de retorno. El mismo principio aplica a escala: $1M gastado debe retornar $10M.
show every dollar I spend I better see 10 back it doesn't matter if I'm spending a 100 million to get to a billion or or a dollar to get to 10 that's the way that I ran Canadian 10 back it's kind of like our rule or you know we we Veer from the rule or whatever but you know as a general rule thumb you know I if it doesn't matter if I'm spending $1 or a 100 million to get to a billion or a dollar to get to 10 it's the same ratio I want to see something along those lines right protein is hey $1 of AD spend produces usually $10 it's totally measurable right because all we've done is you know
Escúchalo en el minuto 1:21
Con marcas que tienen equity orgánico, no猜測 delega la ejecución a 3PL sin supervisión
Canales de adquisiciónTras adquirir BioSteel, Dan tardó 6 semanas en descubrir que la previous 3PL no estaba cumpliendo. Mientras tanto, fans de la marca seguían ordenando a través de canales que nunca se cumplían. La supervisión directa de operaciones no es opcional cuando el equity de marca está en juego.
sales as uh bioeel once was because we were running into fulfillment issues with the uh 3pl company that we use we were running into ad issues where we couldn't actually create ads so we're running number one like we're actually running completely blind because you know Shopify uh analytics which is a platform that bio Steals on only run so much information we wer we didn't have any kind of pixels on the website because we didn't have access to the Google analytics account we're just running so blind that now we can finally you know turn it on and you know we run one little sale with like…
Escúchalo en el minuto 40:06
Reduce SKUs a lo esencial: aplica la regla 80/20 en el portafolio de sabores
Oferta y precioEn retail, demasiados sabores generan mermas y exclusividades irreversibles. Si un sabor solo existe en 7-Eleven y no funciona, no puedes redirigir el inventario a Costco porque lleva su marca. Limita las variedades y haz offers limitadas sin branding exclusivo.
there's a there's so many SKS so many different flavors is are is that are you gonna do 8020 with that as well I don't know I probably would scale back some of them what I think is really going to be interesting is I probably will run limited time offers or limit lied time flavors but I what I won't do is I won't brand it like for example I'll give you an example here I think that this was like a big mistake so see see this right here this ice pop that's how I got into bio seal was the ice pop version yeah okay there you go so see see this right here the 7-Eleven yeah that's a problem so this…
Escúchalo en el minuto 43:39
Nunca pongas atletas en el packaging si no tienes contratos a largo plazo
Oferta y precioSi el athlete que aparece en tu empaque deja de estar patrocinado, ese inventario queda inservible. BioSteel tenía contenedores llenos de producto con atletas que ya no podían usar, lo que agravó la crisis.
another issue too is obviously you know the brand branding aspect of it right they put all their athletes All Over The Branding and then the sponsorship deals you know closed out and then now they're left with a bunch of product that you can't sell because it's littered with you know momes all over it or you know McDavid like who knows what right like there there's whatever whatever uh athlete that they added to the packaging is now no more sale it's it's no longer salable so um I'm just looking at it from a different approach and you know maybe 7-Eleven doesn't pick up the cream pop okay…
Escúchalo en el minuto 45:53
Comprime el embudo: usa ads con atribución directa en vez de branding ciego
Canales de adquisiciónEn e-commerce puro, paid media que puede rastrearse (Google, Meta) comprime todo el embudo en un solo momento. El patrocinio de marca sin atribución es el extremo opuesto: top-of-funnel sin prueba de retorno.
so Performance Marketing you're not spending into a black hole for the for a future return right so the issue so so that's how the way that I ran Canadian protein right and that's one of the ways that it was it's become so successful is it's very easy to analyze this type of data to to recognize whether or not it's performing the problem that I'm having to get around is okay if I spend just let's just call say I get into an agreement with the NHL just let for an even number 10 million bucks so say the next deal with the NHL is 10 million bucks am I going to see analytical hard data that will…
Escúchalo en el minuto 25:41
Canales de adquisiciónPagar por un logo sin activación es tirar dinero. Si no puedes创意地把 el patrocinio en contenido que genere demanda rastreable, no vale la pena. Los contratos grandes con la NHL son así: visibilidad sin datos.
people that say it's too expensive it's it's those that don't understand how to creatively make it work to your advantage rather than just like you know throwing like an NHL Shield like that on a product and just being like hey come buy it right it needs to be more there needs to be more activation than just throwing a logo on a product and expecting people to just want it and they're open to it which is cool too because you're you're coming to this what you're describing is the Performance Marketing mindset that we talk about on this podcast all the time Dollar in $10 out and so that's so I…
Escúchalo en el minuto 28:16
Canales de adquisiciónPagar por un logo sin activación es tirar dinero. Si no puedes创意地把 el patrocinio en contenido que genere demanda rastreable, no vale la pena. Los contratos grandes con la NHL son así: visibilidad sin datos.
people that say it's too expensive it's it's those that don't understand how to creatively make it work to your advantage rather than just like you know throwing like an NHL Shield like that on a product and just being like hey come buy it right it needs to be more there needs to be more activation than just throwing a logo on a product and expecting people to just want it and they're open to it which is cool too because you're you're coming to this what you're describing is the Performance Marketing mindset that we talk about on this podcast all the time Dollar in $10 out and so that's so I…
Escúchalo en el minuto 28:16
Construye el funnel al revés: de los kids a la NHL y de la NHL a más kids
Canales de adquisiciónEn lugar de solo sponsorships top-down, activa programas en bases de hockey menores (OMHA) con patrocinios performance-based. Los kids de 8 años que usan BioSteel hoy serán fans de la NHL mañana: ahí se cierra el círculo.
to think how many kids come out of the omha that hit the NHL there's a lot of kids so if bioeel is a brand that is you know the most trusted the most you know beloved hydration brand from when that kid is eight years old all the way up until when he hits the NHL that's where the NHL starts to come into play is you know activating Grassroots with like the omha sponsorship deals but performance-based sponsorship deals performance-based fundraising deals uh performance-based you know uh event sponsorship deals you the previous bio steal guys they were just they were just throwing money at…
Escúchalo en el minuto 32:48
Medición y experimentosEn la primera venta que pudieron correr tras recuperar el acceso a sus cuentas, BioSteel generó $100,000 en un solo día con cinco productos próximos a expirar. Demuestra que la demanda estaba ahí; faltaba la ejecución operativa.
we run one little sale with like five products that are like due to expire we like 100k in one day so like there's a lot of steam behind bioeel um we just have to now we're starting to turn The Floodgate on now we're starting to bring people in to help support because I also took on like we just brought on I think like a week ago like three retail guys to support retail sales One customer service a logistics guy that started like Monday for six weeks it was me my rhand man Clark my it manager Leslie and like my marketing manager Dave that's it four people took the jobs of like over a 100 so…
Escúchalo en el minuto 40:42
Canales de adquisiciónComprar una marca herida pero con equity alto (BioSteel) ofrece distribución, reconocimiento, contratos existentes y demanda probada. Ir desde cero toma años y mucho más capital. La decisión clave es si puedes operar mejor que el dueño anterior.
from a lot of my friends uh is uh that are that are in this space that have really focused you know they started their first BR had some success with it and now they're buying Brands and they've come to me and said like oh my God buying Brands under the right circumstances is so much better than going from zero to one because you have a lot of the hard work done so can you just talk about like what you actually bought with bio seal what you what you didn't how that actually worked a little bit sure so I bought all of the assets minus the equipment down in Verona so they had a manufacturing…
Escúchalo en el minuto 10:59
Canales de adquisiciónEn hydration y supplements, si la mamá no confía en el producto, el niño no lo bebe. Dan Crosby observó que BioSteel tenía una base de madres convencidas de que era seguro para sus hijos: esto es un moat que no se construye con ads sino con ingredientes legibles y sin artificially.
this and they said well there's no artificial colors there's no artificial uh ingredients there's no artificial sweeteners in it and and they trust it and I found that so unique and so rare because I've been in the business for 15 years and at the end of the day this is like although this is like considered a food product this is a I I would call it also a supplement product and to for for Mom for a mother to say that and then also for a mother to be so confident and Father's to be so conf confident to go buy this stuff at Costco and trust it to the point where it's the only product that they…
Escúchalo en el minuto 19:26
Gatorade nació del football; BioSteel nació del hockey: la misma lógica de autenticidad
Canales de adquisiciónGatorade se creó para los Florida Gators y su historia es football. BioSteel se creó desde los vestidores de NHL y su historia es hockey. Cuando una marca nace con una comunidad deportiva auténtica, su equity es más difícil de destruir. La lección: no construyas patrocinio sobre una marca que no tenga raíces orgánicas en su comunidad.
it was it was listen at the end of the day bio steel what bioeel is to hockey Gatorade is to football it's the same exact analogy it's Gatorade was made from a from a Florida Gator it's like it was made by somebody that was like I can't remember if it was like an alumni or something but it was made with a football narrative behind it right in the whole football you know ecosystem or whatever bio steel is the same thing the NHL and hockey it's the same thing so I think they realize that bio steel is the right brand for them it's authentic I think that like listen there's some very smart people…
Escúchalo en el minuto 29:13
Convierte la TV en atribución local: apunta a los mercados donde ya tienes retail
Canales de adquisiciónTV funciona como top-of-funnel cuando puedes rastrear la conversión a nivel local: si tu público ve el anuncio y luego compra en Costco o Amazon en el mismo mercado, puedes cerrar el loop. Sin footprint retail no hay forma de medirlo.
really interested in like in TV the thing I keep talking about a lot of advertisers these days is the value of strategic TV in real to television specifically and like and really like as a really because I feel like it would be even a more strategic way to support your top of funnel efforts with the NHL potentially interes because and because the brand it's such a good brand story it's a brand whose time has come it's a product whose time has come if you can tell that story really well and then and even like and Associate it with minor hockey and neat way like I could see it being a really…
Escúchalo en el minuto 47:25
Barbie: campaña de TV sobre aspiración infantil destruyó la resistencia del board
Canales de adquisiciónEl punto de quiebre para Barbie fue cambiar el mensaje de adultas a aspiración para niñas. Una campaña de TV que mostraba que Barbie era un modelo de futuro —no un juguete— eliminó la resistencia interna y disparó la marca. La táctica: cambiar el marco narrativo de defensivo a aspiracional.
like what you're talking about right there go look at Barbie stories uh like the story behind Barbie go look up uh how they started um with respect to I think it was like maybe their first or something along the lines of like their first uh TV campaign you know they they Barbie was very uh you know met with a lot of hesitation you know back in in the day you know you've got this woman that was you know producing a toy with like big breast and it was like very like hourglass you know shape and stuff like that and like the men behind you know Mattel even though the people behind Barbie were the…
Escúchalo en el minuto 48:34
Canales de adquisiciónBioSteel gastó $400M en dos años, quemando $1M/mes con ventas que crecían 124%. Su marca tenía tanto equity que Canopy la vendió en quiebra por el valor de los activos. Dan Crosby la compró sin deuda y sin contratos heredados.
was burning over $1 million a month building brand equity and sales that actually grew 124% in the last fiscal that's the way that I ran Canadian protein and that's one of the ways that it's become so successful is it's very easy to analyze this type of data to recognize whether or not it's performing the problem that I'm having to get by canopy a big cannabis company fell under some Financial duress was not able to meet some of its Financial targets and canopy put it up for sale and Dan you bought bioeel something close to half a billion in debt that you were able to kind of write off…
Escúchalo en el minuto 0:42
Canales de adquisiciónDinamarca, Finlandia, Suecia, Alemania reciben demanda constante de BioSteel que no pueden satisfacer. Europa tiene regulatory overhead que impide operar de entrada. La lección: si tienes demanda internacional sin hacer nada, prioriza mercados que puedas cumplir antes de abrir nuevos.
then they also want to expand over in new Europe which we get calls like non-stop or DMS and messages emails from you know Finland Sweden Germany Denmark uh you know you name it all of those Nordic countries and you know Western European countries they they love bio steel they just they can't get enough they can't get enough of it and they just there there was distribution out there we've had to kind of pull back a little bit because there was a little bit you know there's regulatory scenarios with Europe and I can't focus on that right now I have to focus on the North American market and…
Escúchalo en el minuto 36:49
Canales de adquisiciónEl acuerdo de patrocinio de BioSteel con la NHL era de 13.2 millones de dólares estadounidenses, uno de los gastos más pesados de la marca.
knowledge it was like a$ 13.2 million USD deal right so okay um yeah it was it was heavy and then how are you g to how
Escúchalo en el minuto 24:28
Canales de adquisiciónAntes de la quiebra, BioSteel perdía más de un millón de dólares mensuales, a pesar de que sus ventas crecieron 124% en el último año fiscal. El problema no era falta de demanda sino sobredimensión de costos.
was burning over $1 million a month building brand equity and sales that actually grew 124% in the last fiscal
Escúchalo en el minuto 0:42
Canales de adquisiciónAntes de la quiebra, BioSteel perdía más de un millón de dólares mensuales, a pesar de que sus ventas crecieron 124% en el último año fiscal. El problema no era falta de demanda sino sobredimensión de costos.
was burning over $1 million a month building brand equity and sales that actually grew 124% in the last fiscal
Escúchalo en el minuto 0:42
Canadian Protein firmó un PO con Costco por $40M/año
Oferta y precioCanadian Protein, la empresa matriz de Dan Crosby, aceptó un pedido de Costco que representa aproximadamente 40 millones de dólares anuales.
we just accepted a a PO from Costco it's going to be worth about 40 million a year and then uh you know the other bio
Escúchalo en el minuto 10:12
Canales de adquisiciónLa compra de activos de BioSteel permitió borrar una deuda cercana a los 500 millones de dólares. Dan Crosby adquirió solo activos, no el pasivo, lo que fue clave para la operación.
something close to half a billion in debt that you were able to kind of write off through the purchase what can partnership as the official beverage of the NHL that not only includes intense branding opportunities but also
Escúchalo en el minuto 0:27
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