In 2017, the archery world was stagnant. Vertical bow sales were declining and crossbows were seeing modest adoption as more states opened the archery season to their use. Then, along came Ravin. With Gunpowder at the wheel from a marketing perspective, the company went from nowhere to the unanimous market leader in a matter of 18 months.
Launch an entirely new brand and technology to a market rife with competition and in the midst of a hotly contested debate about the product’s use across the country. The goal? Build a brand and business that could be sold within four years to deliver maximum value to all stakeholders.
Gunpowder developed a bold, unapologetic approach to market entry, appealing first to gun hunters looking to transition into archery season as opposed to going after the obvious vertical bow owner market. This approach meant developing content and storylines that were appealing to a more general hunting community and focusing on the key benefit of the product: long-range accuracy. While the brand launched at the ATA Show in January, that unveiling was quickly followed up by a gutsy appearance at SHOT Show Industry Day at the Range, where hunting and shooting editors flock to shoot the newest guns on the market. With a 100-yard range and attendees regularly dropping arrows into the 10-ring with stiff crosswinds, the statement was made. One leading gun outlet proclaimed Ravin “the crossbow that stole Range Day.” From there, the agency developed a full-360 campaign that continued to tell the story through earned media, paid media, events and content. The bow earned every major award possible and became the new gold-standard in the industry, upsetting the industry stalwarts and forcing innovation across the board.
Millions and millions of impressions and stacks of positive media coverage are great. But the ultimate prize was delivered just 18 months after the first bow was shipped to a retailer. In September of 2018, the company was sold to Compass Diversified for over $100 million and a very successful exit for the ownership team.
