Thursday, October 14, 2010

TYR's new branding strategy - We are athletes just like you!

Is there a "number one", "best-ever", suit out there anymore? In 2008 we thought it was anything Speedo.

Which suit do we believe is now the new number one?

If tech-suits came back tomorrow we would not be reaching for the LZR, it would be the blueseventy, the Jaked, or the Arena. In 2009 Speedo left the table at the FINA World Championships as the perceived "loser" and soon thereafter tech-suits were banned.

Hence, TYR is rebranding; or more accurately, going back to their original message: TYR was founded by athletes, the product is designed by athletes, and they even named it after an athlete! (Well, the Norse god, TYR, wasn't exactly an athlete but he certainly encompassed the same ideals.)

So, What will be the response from Speedo?

Speedo's number one swimmer, Michael Phelps, seemingly hates his job and would rather be playing golf or playing poker in Las Vegas according to the press. That is a huge whole to fill.

Ryan Lochte is coming out with a new Speedo shoe line but has he convinced you that a Speedo will make you swim faster? Other problems for the company is that they seemingly have no presence in the triathlon market and even Arena is building a larger stable of swimmers.

I think we will have a new number one swim wear brand post 2012. I don't know who it is but i will enjoy the race.


Scubapro said...

Tyr has been great at sponsoring both world class athletes as well as age groupers both at the podium and those who love the sport to show off their brand. They have also been upping their fit, changing their fabrics and raising the bar on quality back to their roots too! It's great to see Tyr shine again once more.

Anonymous said...

I like that ad but wow, it will be hard to knock Speedo off its spot. At the Commonwealth Games Speedo was tweeting all the time about its swimmers who were winning and medalling in Speedo suits. It was overwhelmingly the majority, plus Speedo has a global brand name recognition to a degree TYR can only dream of at this point. Still, it is definitely possible..

Tony Austin said...

Speedo is a Commonwealth company which explains the overwhelming presence at the CWG. In the USA, there are massive too but they are not considered the de facto standard suit anymore.

I estimate that Speedo grossed 350-million in 2009. They are a strong number one but cracks are emerging.

Trev said...

Great ad - right on par with something Nike might produce. Much more impactful than Speedo, IMHO.

Tony Austin said...

In the future, no one will run commercials on TV unless they are for branding purposes or have an immediate call to action like the ShamWow guy ads

At work we are acknowledging that the internet will be the new "cable/satellite" option. Hence, that w=is where branding will take place.

TYR probably spent maybe $20,000 or less on this piece and it will really pay off. Their creative director is quite industrious and very hands on. It would not surprise me if he did the whole thing himself and they spent half of what I estimated. That is coup brand wise for so far 2,500 have seen the video in the past three weeks and these people wanted to watch it rather than being forced to. If it were on TV, 250,000 people would have had to have seen it for 2,500 to be pleased to see it.

I did not mention it in the post and it is something I have been thinking about for some time. Marketing to the less affluent is not working, they are not getting into the pools like USA Swimming hoped. (I really want it to work and oget everybody swimming but the results are not happening.) I suspect it's public pool availability and even beck yard pool availability.

Hence, TYR is "fishing" for swimmers where the "fish" are. Triathletes and teams and the people that swim in that milieu are affluent whites or Asians.

TYR donates swim gear to inner city youth every year, but the sales demographic for swimmers is "lily white", or "lotus yellow."

No one likes that but that is the way it is.

Anonymous said...

Keep trying Tony, keep trying. TYR is wonderful, only for you.