As a business development consultancy specialising in advising marketing agencies, attending Madfest 2024 was a goldmine of insights. One of the standout sessions was “Challenger Brands Uncensored,” featuring conversations with two dynamic brands: Lucky Saint and Vinted. The session, expertly moderated by Jon Evans, CMO of Uncensored, provided a treasure trove of actionable advice for brands looking to make their mark. Here’s a summary of the key points from the discussions with Kerttu Inkeroinen, Marketing Director of Lucky Saint, and Andrew Smith, Senior Brand Director of Vinted.

 

Vinted: Scaling with Speed and Maturity

Andrew Smith of Vinted shared how the company continues to move at speed while also achieving organisational maturity. Here are the highlights:

• Speed and Efficiency: Despite their growth, Vinted maintains agility. Clear processes enable them to scale efficiently without losing their dynamic edge.
• Organisational Maturity: The company has developed a level of maturity that supports its growth, ensuring that operations run smoothly and efficiently.
• Founder Involvement: Interestingly, the founders of Vinted are not heavily involved in day-to-day operations, allowing the organisation to function independently and effectively.

 

 

Lucky Saint: Building a Brand with Quality and Passion

Kerttu Inkeroinen of Lucky Saint offered an inspiring look into how they are building their brand. Key takeaways include:

• Product Quality: The quality of their product is paramount. They start their production process with alcohol and then de-alcoholise it, rather than starting with water. This dedication to quality sets them apart.
• Brand Building: Lucky Saint is focused on making their brand known and aspirational. They’ve even opened their own pub, creating a tangible space where the brand comes to life.
• Founder’s Vision: The founder’s obsession with design and involvement in the business is a driving force. This passion permeates the company culture.
• Optimism and Momentum: Despite being a relatively small team of 60, they project a much larger presence. They embrace momentum and maintain optimism, not dwelling on failures but learning and moving forward.

 

The Challenger Mindset: Lessons from Eat Big Fish

The session also featured insights from the philosophy of Eat Big Fish, a consultancy known for championing challenger brands. Here’s what they had to say about maintaining a challenger mindset:

• Challenging the Category: Success for challenger brands isn’t about size; it’s about culture. To stand out, you have to challenge something fundamental within your category.
• Creativity Through Constraint: Limitations can drive innovation. Embracing constraints can lead to creative solutions and breakthrough ideas.
• Asking the Right Questions: Instead of focusing on why something can’t be done, ask, “What would have to be true for this to happen?” This shift in perspective can unlock new possibilities.
• Maintaining the Pirate Spirit: Keeping a rebellious, challenger attitude helps resist the forces of the status quo. It’s about staying true to the spirit of innovation and disruption.

 

 

Conclusion

The “Challenger Brands Uncensored” session at Madfest 2024 provided a wealth of insights for anyone looking to disrupt their industry and build a strong, dynamic brand. From Vinted’s efficient scaling and organisational maturity to Lucky Saint’s commitment to quality and brand building, there are valuable lessons for all of us. Embracing a challenger mindset, as championed by Eat Big Fish, can drive creativity and help brands stand out in competitive markets.

For marketing agencies and businesses, these insights offer a roadmap to navigating the challenges of growth, innovation, and brand building. Let’s take these lessons to heart and continue to push the boundaries in our own ventures.

 

Read my first review of the Madfest 2024 Insights from Sir Martin Sorrell at Madfest 2024: A New Era for Business and Marketing