During the recent Fast Company Innovation Festival, Redscout hosted a workshop with our clients at American Eagle Outfitters, Peloton and VICE Media, where we explored the question “Are You Really in the Business You Think You’re In?” It’s a deceptively simple question, but when framed correctly, everything else comes into focus and new paths to growth can be unlocked.
American Eagle Outfitters
It’s easy to think of American Eagle as a brand that is about jeans and T-shirts, but as the world has changed, it became clear that the brand needed to stand for more. Today, AEO is leading by building confidence and empowering teens to express themselves, and the aerie brand is winning through its commitment to being authentic and real.
"You have to go back to what’s REAL, what’s authentic about the brand. And be ruthless about it.” — Kyle Andrew, CMO, American Eagle Outfitters
People think Peloton is a bike business, but it’s really a human brand using fitness and technology to empower and motivate a generation of people to achieve their best. Peloton has a unique ability to connect with members one-on-one, which creates a much more powerful connection. They are following an entirely new brand playbook in an established category by listening to their audience.
"When we were considering the Tread opportunity, we had to use our knowledge of being in the motivation business to truly change and design for the experience of a total body work out. There’s a feeling that you can take on the world on Peloton Tread, and that you’re a better person on the Bike. These both come back to our core.” — Jasmine Maietta, VP, Brand Marketing, Peloton
VICE was a magazine, and now they are taking the media business by storm by reinventing TV and digital content. When they started to own their responsibility as a large, influential multimedia publisher, they realized it was about enabling a new generation.
“You need to be a challenger. Something to fight against. And once you’re a leader, you have to do the work to find that sense of responsibility in a new way." — Spencer Baim, Chief Brand Officer, VICE Media
Anyone can discover the business they are in and unlock innovation within their own organization by starting with these four questions:
What does your company do better than anyone else?
What human need do you solve for?
What cultural movement would you sponsor?
What about your company is mythical?