Dylan Jacob Has A Monopoly In The Drinkware Market In The United States
In the unbearable summer heat, a can of chilled beer is all you really need. But leave your drink for 10 minutes and it becomes warm and undrinkable. Dylan Jacob, who had already run two successful businesses by 2016 was surprised that nobody had come up with a solution for this problem. Thats when he decided to take matters in his own hands.
With his experience from previous businesses in product development, Jacob
started BrüMate. In its first year itself BrüMate made $2 million in profit. The next year, the company recorded a 1000% growth with $20 million revenue. In its third year, BrüMate has a sort of monopoly in the market. Even though its been three years since Jacob started the business, there hasnt been any real competition in the field.
Its important to talk to the customers to understand what it is that they expect from the product. There isnt any real competition for BrüMate because a lot of other brands have stopped at regular koozies and flasks. When I first launched the Hopsulator TRiO, it wasnt perfect. But with feedback from the customers, I was able to make the products functioning better and now it is one of the best-selling products we have. I believe that for an entrepreneur to stay ahead in the game, its important to listen to the customers and to give them more than just what theyre looking for, the 24-year-old entrepreneur said.
The global drinkware market is expected to cross over $11 billion in the next few years. Jacob is focused and dedicated to making BrüMate one of the best drinkware brands not only in the United States, but also across the world. His thirst for developing and expanding his business has made BrüMate a million dollar company in less than three years.
But all of this didnt come without obstacles. Jacob had to sell his house and max out his credit card to come up with enough money to get inventory for production. He used targeted Facebook ads to create enough buzz about the brand on social media, marketing the Winesulator as the perfect Christmas gift. The risk was tremendous but the reward was sweeter. BrüMate made over $2 million in the following months.
Jacob believes in the power of digital advertising and uses it to grow his business online. Building a brand has never been easier than it is now compared to 10 years ago when it might take you 15-20 years to build a prominent brand and I've seen companies do it in one or two, said Jacob. There arent many adult beverage drinkware brands in the market who are using social media as effectively as BrüMate is. Using social media to connect with customers and keeping them engaged is the new way of the world.
Which is why, Jacob uses Facebook to connect with his customers. They regularly conducts contests, do giveaways and give a taste of upcoming products to peak customer excitement. The page has over 400,000 fans who regularly engage with the brand. The effectiveness of the product, slick product design coupled with a fantastic marketing plan is really whats making BrüMate a leader in the market and the competitors seem to have a lot of catching up to do.