Coke, McDonald’s, Apple… 3 companies that are constantly doing one thing. Advertising their brand. These are 3 of the biggest businesses in the world and yet you still can’t turn on your tv or scroll through social media without seeing some sort of advertisement for these brands.
So why is brand marketing so important that these companies that most people would already know about spending millions of dollars on constantly putting their brand in our face?
Let’s look at a recent event that had a huge effect on a global mega-brand.
Recently in a Nationally…well, Internationally televised college basketball game Zion Williamson who is the consensus number one pick for the 2019 NBA Draft got injured. I know standard right? It’s sports, injuries happen… Well, this was a little different. 33 seconds into the game between Williamson’s Duke and North Carolina, Zion went to do a simple cross over dribble, he planted his right foot and went to push off to change direction… and then his Nike shoe split apart right there on the court resulting in Zion crashing to the court clutching his knee. At that moment everyone at Nike held their breath.
What happened next was every Brand manager’s nightmare by the time markets closed Nike stock had dropped 1.41% equating to a loss of 1.46 Billion dollars off their market capitalization. All that from one shoe, from one bit of stitching. The social media channels were blowing up with everyone from other professional sports people through to everyday punters jumping at the chance to chastise the apparel giant.
More then just the stock hit there is another major factor at play here. In college, sports athletes are not permitted to sign shoe deals. The schools do, Duke being a Nike school gets paid by Nike for their players to wear their shoes. The benefit to the schools here is that a lot of the big-name players tend to sign their own shoe deals with the brand they played college in.
However, with this incident all of a sudden, the odds of Williamson signing on to be a Nike athlete when he enters the NBA after the draft in June have changed with competitor Adidas now deemed favorite for Williamson’s signature. Zion’s shoe deal is estimated to be between 9 and 10.5 million USD per year…. so you can imagine the profit these companies are making off having the big-name players wearing their shoes, all this gone in a second.
When it comes to branding you need to always be working on it, you need to always be pushing it. You want your business to be the first thing people think of when it comes to the industry your trade-in. Here at Rebel Media, we are experts in helping Brands grow their reach.
Related Article: Unique branding ideas that actually works
