15 Oct 2024
MEMOS/ Ideas
Stance had sold over 36 million pairs of socks, raised over $115 million from investors, and partnered with the 3rd highest-grossing sports league in the world in the first 5 years of business. How do they do it?
Let’s take a look at their About:
“Stitched Different — For nearly 15 years, we’ve been committed to engineering and testing products designed for the comfort to be yourself, with the versatility to do more. We believe the perfect fit matters more than fitting in and that the path to innovation is through our imagination. Our community of artists, athletes and everyday icons inspire us to stay in motion and we embrace the full spectrum of their stories. Behind every Stance product is the freedom to choose your unique path and live to your fullest expression. Welcome to the crew.”
It did not mention their products once. It’s not about the socks. Stance wants people to associate them as a brand for self-expression and creativity.
They were an upstart in a legacy industry back in 2009 and saw the potential for personality in a boring space. The premise for the brand was “the uncommon thread.” They wanted to be the misfit socks (they even sold pairs in three’s). That led to launching one of the first-ever micro-influencer strategies across social media, working with smaller names with dedicated followings, called Punks and Poets. They really focused on people who lived their passion and purpose like athletes and artists, surfer Cole Houshmand, Pro skateboarder Louie Lopez…
The result? They do hundreds of millions in annual revenue and became the official sock of the NBA and MLB.
Companies that build an emotional connection with their customers outperform the sales growth of their competitors by 85% (source).
So next time when you are trying to build a community, start here: