Oct 23, 2018
DESCRIPTION
Today we are going through all
the essential stages of creating a successful brand in a really
interesting discussion with Kiri Masters and Brian Smith, the
founder of UGG. Although Brian sold UGG a little while ago, he has
some really amazing stories to share about growing the company into
an internationally recognized brand, what he went through along the
way and how he dealt with retailers or copycats.
Brian is also the author of the
book “The Birth of a Brand” and he was kind enough to share with us several
insights that he included in his book. Tune in and learn more about
Brian’s experience with growing UGG.
Though Brian spent several years
studying accounting, he wasn’t very passionate about this field and
decided to explore his entrepreneurial side by going to California
to find something innovative and bring it back to
Australia.
After following his dream of
surfing in Malibu for a couple of months, one day, while sitting on
the beach, Brian realized that the water started getting cold and
chilly winds began to blow. Pulling on the sheepskin boots he'd
brought with him from Australia, Brian had a breakthrough. He
realized there were no UGG boots in America!
Though everyone knows the
popular UGG brand now, it took quite a long time for Brian to tap
into the consumer mind and understand how to sell the products he
produced. In this interview Brian explains what he did to grow his
company into the iconic brand that it has become today. We hope you
enjoy his insightful journey.
KEY
TAKEAWAYS
- Brain
tells the story of how his brand was born.
- The
first year's sales were only twenty-eight pairs of
boots.
- How
he managed to break into the consciousness of the
public.
- Brian
noticed a theme years later while writing a book when the brand had
grown into the millions.
- The
theme of Brian's book was that you can't give birth to
adults.
- Brian
explains his analogy of giving birth to adults.
- The
stage where most entrepreneurs give up.
- Every
business goes through a stage of infancy before the orders start
coming in.
- If
you start out with a really unique product or service, the business
is bound to pass through the infancy stage and move into the
teenage years.
- The
potential danger of getting into national distribution too
quickly.
- Brian
explains the life cycle of every business.
- Brian's book, “The Birth of a Brand”,
highlights all the stages that a business goes through.
- The
UGG brand has gone on to gross a billion dollar per year for the
last six years in a row.
- The
different stages and turning points that Brian experienced as his
brand become more and more popular.
- Brian
broke through when he started taking pictures of pros surfing at
iconic surf locations to create really powerful images for his
ads.
- Advertising and marketing became a passion for
Brian.
- The
importance of advertising the emotional side of the benefits of
your product.
- Brian's reaction to the copycats who started
coming in.
- When
Brian sold the company it wasn't about the product, it was all
about the brand.
- Brian
taught his staff not to obsess about their competitors, but rather
to "get out first and run faster".
- The
strategy of going for the lowest price is not always the best way
to go.
- Staying ahead of the competitors.
- There
is a value implication to being more expensive.
- How
the UGG brand got into the back door of retail through the surf
market.
- The
methodology of marketing has really changed with the internet age,
so you have to think and react much faster.
- A
product that Brian sees as the new UGG brand is the Sash
Bag.
- The
power of utilizing an existing market to sell products.
- The
importance of building personal connections.
- On
the 30th of October, Brian has a big ad coming out in Ink Magazine
to launch the audio version of his book.
- Brian's book is still as relevant as when it
was first published.
- Go to
Amazon on October the 30th and look for The Birth Of A Brand - it's
a roadmap for every entrepreneur.
MENTIONED IN THIS EPISODE
Leveraging Storytelling & User Generated Content with Lexi
Cross.