God bless the leadership team of our fake 90s energy drink company, XXXTreme Quench Energy. They really thought they were on the road to fame and fortune.
Unfortunately, everyone knows how the story ends. As it turns out, events do sell energy drinks. Billions of energy drinks. If you really want to get specific, 6.8 billion cans of Red Bull flew off the shelves in 2018.
Meanwhile, XXXTreme Quench Energy and its many real-life look-a-likes, tried to fight on traditional grounds, and we all know how that worked out.
“In the world of energy drinks, you think about Red Bull and you think about everybody else,” said Encore Live CEO Walter Kinzie. “One of them believes in the power of experience, and the rest of them are fighting for the end cap at the end of the aisle of a grocery store.”
Red Bull doesn’t just do events. They create entire worlds of experience. The World of Red Bull runs the gamut from extreme sports to Formula 1, NASCAR and breakdancing. They don’t just own one sports team—they own more than a dozen across soccer, sailing, auto racing and eSports. They host hundreds of events across the globe every year, providing athletes, artists and performers of all stripes opportunities to chase their dreams. And, oh yeah, they dropped Felix Baumgartner from the stratosphere back to earth in 2012.
After their two decades of incredible success and sustained growth, it can be daunting to imagine your company trying to match this experiential empire. And the truth is, matching it might not be necessary.
But Red Bull had to start somewhere, too. What they prove is that with a consistent vision, unwavering belief and serious know-how, experiential ideas can be successfully scaled beyond most people’s wildest dreams.
What makes Red Bull’s position in its category so dominant is that its success was built in a world that its competitors simply haven’t been able to access with anywhere near the same success—the experiential world.
Here at Encore Live, we’re huge fans of what they’ve achieved. They set the bar for our entire industry, and serve as a clear and unassailable illustration of the power of experience to drive dominant business results.