MOBE Review : Universal Branding Nike
MOBE Review : It works without the words. The Nike “swoosh,” that is. Even without the company name, the Nike brand is instantly recognizable by its famous logo alone. It’s not by chance that the swoosh reached global success.
Here are the key factors on how the sports apparel company made a huge worldwide appeal:
A Business Today article summarizes Nike’s ethos of “constant innovation” as a leading factor for their exponential growth and global domination. In the early days, Bowerman would open up pairs of Tiger brand shoes to analyze how he could make them lighter and better. He had also asked for help from university runners to test out his creation and acquire feedback.
After a relationship breakdown with Onitsuka in 1971 and earning a $1 million revenue, BRS went from being distributors to becoming designers and manufacturers of athletic footwear. The company has since gone on to dominate the footwear market, with Statista disclosing Nike’s athletic footwear sales at $90 million compared to Adidas’ profit at $25 million.
If you feel a product or service has the potential to be better than what it is, don’t be afraid to reinvent it in a way that’s within your financial range. Like Bowerman, test out your creations and improve it using two important elements:
- User Feedback.
Once you’ve addressed both details, you’ll get a good idea as to where to take the product next and how, if at all, you can develop it. Remember, you must create a better product than the previous one, otherwise, you may as well just continue distributing the original.
To create a meaningful and memorable name, BRS was replaced with Nike in 1971—named after the Greek goddess of victory.
In need of a distinct logo, they sought the assistance of design student Carolyn Davidson. After a few versions, Davidson created the now-ubiquitous swoosh for only $35, without knowing that the company’s market value will grow to approximately $10.7 billion today. It goes to show that simple and inexpensive efforts can translate into big outcomes in the future as long as you streamline all aspects of your business.
If you’re planning to change your brand name, then go for it! It could have different effects depending on how you will market yourself, but you’ll do fine by making sure it’s memorable, catchy and striking. Furthermore, Nike isn’t the only major brand that had changed its name. Some of the major companies that have undergone rebranding, but still became household names all over the world, are listed below to give you that added reassurance:
- Backrub (Google).
- Cosmair (L’Oreal).
- Software Development Labs (Oracle).
- Jerry and David’s Guide to the World Wide Web (Yahoo! Inc.).
- Brad’s Drink (Pepsi Cola).
Creating a logo for your brand is not done in an instant. You’ll surely go through a plethora of revisions before arriving at the final, so don’t rush it. It should be strikingly memorable—the kind that takes you a second to analyze but a lifetime to forget. Nike’s iconic swoosh is not only a visually effective design, but it’s also commonly associated with success and a “can-do attitude” which the brand heavily advocates.
After the 20-year-old Stanford golfer named Tiger Woods won an unprecedented third U.S. amateur title in the summer of 1996, Nike founder Knight showed a keen interest in him saying, “I hope we can sign him,” as reported in an article on the Stanford alumni website.
Three days later, a young Woods called a press conference to declare that he will be going professional, “Well, I guess it’s ‘Hello world,’” grinned the legend-to-be. And then, Nike announced that they had signed Woods to a 5-year endorsement deal worth $40 million. The subsequent ads adorned the clever tagline, “Hello, World”—the sound bite of the moment.
Since signing tennis ace Ilie Nastase in 1973, when still operating under BRS, to the present day, Nike’s founders have always been keen on powerful endorsements as part of their marketing growth.
According to Statista, Nike attributes much of its success to the brand’s effective global marketing campaign, which is renowned for “using sponsorship agreements with celebrity athletes, professional sports teams and college athletic teams to use their products and in return promote their technology and design.”
In 2013, Nike spent approximately $1.09 billion on its advertising campaign in the United States alone and “as a result, Nike will continue to be one of the most popular brands amongst men and women when it comes to athletic apparel worldwide.”
You may not have the financial clout or capacity (just yet), to sign globally famous faces to increase your global reach. However, one thing you can do is create effective marketing strategies to reach a global audience similar to how Nike does it.
The company has also been known for their clever advertising and commercials and have always stuck inside consumers’ minds long after seeing other TV advertisements. It’s undoubtedly a result of spending a considerable amount of money on marketing. But you can craft equally powerful messages through different means and the help of a creative team that knows your prospects interests.
MOBE Review : When you innovate and create a brand that has the legs to run a lifetime and can grow with time, and then subsequently master the art of branding and marketing, you’ll reap the same rewards as one of the biggest companies in the world.
With a global revenue of over $30 billion and employee figures of over 62,600, there’s no reason not to replicate the Nike, Inc. journey. So, just do it.