When Stefan Lagerqvist took over as CEO of Nick’s, the better-for-you snack brand was growing fast despite some tough lessons. Five years in, he scaled the business 6x, cracked the US market, and led a global brand refresh. Best of all? Under Stefan’s leadership, Nick’s is now the newest client on Curiosity’s roster.
In this episode, we get the scoop on why the secret ingredient to being a great business leader is cynicism, the driver behind Nick’s major brand refresh, and how one smart hire can change it all for a high-growth brand.
Why Stefan is a cynical business leader and you should be too.
In the early days, Nick’s had a significant amount of venture capital and almost no guardrails as they set out to revolutionize better-for-you treats. With a gold brick on the gas pedal, Nick’s staffed up and said yes to everything. Unfortunately, their momentum slowed, their investments didn’t meet projections, and they had to reevaluate operations.
That moment reinforced Stefan’s philosophy of cynical business management, where optimism meets realism. What sounds great on paper may not make total business sense. For example, to drive cross-category conversion of Nick's ice cream and protein bars, the team pitched printing QR codes with coupons for bars under the lids of their signature pints. While the idea sounds like a no-brainer, Stefan challenged the team to think about the ROI. Considering the high incremental printing expense coupled with low scanning and redemption rates, the team found that it was actually cheaper to give the bars away for free.
So what does it mean to be a cynical business leader? When evaluating new ideas, Stefan recommends approaching them with healthy skepticism rooted in data. The end goal may still be possible, but the route to get there can often be simplified. It doesn’t make you the “bad guy,” it makes you the “responsible guy.”
Think you know your target consumer? Data says think again.
When Nick’s was getting started, they catered their brand to the “urban active family.” After investing more into consumer research, Stefan and his team discovered that this initial target actually had the lowest awareness and consideration for the brand. So, they went back to the drawing board and shifted their business to cater to a completely new audience.
When they entered the US, they had to rethink their brand again. At launch, Nick’s introduced the US to “Swedish” ice cream. Their “Swenglish” names like “Triple Choklad” and “Cookies and Kräm” were a fun nod to the origins of the brand, but ultimately created confusion when searching for the product online. So, they went back to the drawing board and found that clarity trumped creativity in this sense. With this new data informing decisions, Nick’s completed a US rebrand and launch.
The keys to pulling off the best experiential marketing.
For high-growth food brands, sampling is bread and butter. In Nicks’ case, getting their products directly into the mouths of consumers is the best way to convince skeptics to purchase. But the successful delivery of these treats requires a tremendous amount of planning. From warehouse travel distances to temperature and seasonality to losing cold air every time the sampling truck opens, Stefan urges CMOs to think through every aspect of the sampling journey. Yep, no chill here.
Once you nail down the logistics, another major key for your sampling to go off without a hitch is treating your brand ambassadors like a casting. That means being deliberate with who you have representing your brand. Do they present well? Do they understand why your product is superior? Do they match the brand vibe? Sampling is many people’s first impression of your brand – make it a good one, or it could be their last.
Want your creative to resonate? Have your target consumer on the team.
Nick’s approach to their creative and brand messaging comes straight from the mind of their key consumer. In their case, it’s Johanna, their Head of Brand – who’s oh, so strategically in Nick’s target market. She’s helped develop Nick’s brand voice and head-turning OOH boards that say “Lick me”, “Have you even spooned a Swede?", and “Eat me till ice cream” that don’t just drive social engagement, but drive their target in-store to try and buy.
Besides rising sales, another reason Nick’s knows they’re on the right track is through social listening. If a particular piece of content earns high engagement on social, it gives them confidence to work it into their packaging and out-of-home activations.
Hope you saved room for dessert…
Want to hear more from Stefan? Like the Nick’s product that took down Snickers in Sweden? Or how Nick’s responded when THE Bethenny Frankel shouted them out? Catch the full episode on YouTube, and don’t miss Stefan’s ‘This or That’ where we made him choose between his old friends P&G and Unilever. As always, drop your favorite takeaways on our social posts and leave a review wherever you listen to your podcasts. See you next month. 👋
ABOUT THE QUESTION EVERYTHING PODCAST
Part interview, part therapy, part Price Is Right, the Question Everything podcast puts your favorite CMOs and thought leaders in the hot seat. That means while they're facing off against our game board, you'll learn from the successes and failures of the best in the biz who were daring enough to be curious.
