A pioneer in energy drinks three decades ago, Red Bull is now the world sales leader with estimated 2012 fiscal sales of over $3 billion, profits over $400 million, and a 43% leading US dollar market. To establish a new category in the face of Coke and Pepsi and then hold it for decades is very impressive.
Four quick observations about Red Bull’s unique approach to brand building:
- Red Bull’s brand building is largely based on associating its brand with an amazingly wide range of people, teams and events.
- Red Bull believes in owning teams and events rather than being one of several sponsors.
- Because of this ownership model, they can and have turned this buzz machine into a profit center.
- Their on-brand activities reflect two very different personalities that live side by side.
The scope of Red Bull activities is overwhelming. It gets involved in a wide mix of sports such as wakeboarding and motorcycle racing, dozens of Red Bull music events, sponsoring athletes such as motocross racer Ashley Fiolek, teams such as the New York Red Bulls soccer team and much, much more. The Red Bull website has entertainment features such as the Red Bull Soapbox Racer video game, weekly rock music bulletins on the Rock Report, plus sections on movies and TV shows as well. The list of their entertainment features goes on and on and is captured on their Facebook Page, which has more than 37 million followers. With well over 100 potential points of contact, Red Bull will connect to their target market many times, in multiple ways. And more importantly, Red Bull becomes a big part of their customer’s lives. …Continue reading