Nike changed the game.
In stunning fashion, Nike named Colin Kaepernick the face of its 30th Anniversary “Just Do It.” campaign. The market’s initial reaction to the campaign is about as volatile as you’d expect. A quick look at Twitter and you’ll see burning shoes, brand-less socks, and a whole lot of rhetoric. Look toward the stock market and you’ll see Nike’s stock hitting record highs. In reality, none of that truly matters. We, as marketers, must look toward the future to see the real implications of Nike’s revolutionary values-based strategy.
Nike just did it.
What did Nike do? They picked a side. It’s often been said that business and politics don’t mix but — for good or for worse — reality doesn’t share the same view. The market of the past is not the market of today. Three growing trends within the market that have helped shape Nike’s impactful move:
- Consumer power is increasing.
- Consumer loyalty is dead.
- Consumers aren’t listening.
Consumers of today are smarter and more elusive than ever. Nobody is more in tune with this trend than one of my favorite marketers, Mark Schaeffer, who has deemed it the ‘Third Marketing Rebellion’. It seems like the only way to truly reach and influence the modern consumer is at the interpersonal level. Of course that starts with authenticity and transparency, but how do we break down that wall between the seller and buyer? I think that’s what Nike is trying to do here – attach to something that can penetrate the wall and hang on for the ride.
You snooze you lose.
If you’re going to take the value-based marketing plunge (and want the world to take notice), you better do it quickly and wholeheartedly. There is a ‘shock and awe’ aspect to this strategy that is not going to last. If you take a glimpse into the near-future, I have a feeling that you’ll see the value-based marketing run dry with consumers. One of two things is going to happen:
- The consumer will roll their eyes at your desperate attempt to ‘newsjack’ a social cause for branding purposes
- Value-based marketing is simply going to be expected.
Either way, this strategy won’t elicit the same senses that it does now. Speaking of senses, I am reading a great book, Contagious by Jonah Berger, that is very relevant to this discussion. If you ask Johan, I have a feeling he’d say that Nike did a great job ‘arousing’ it’s audience.
“Arousal is a state of activation and readiness for action. The heart beats faster and blood pressure rises. Evolutionary, it comes from our ancestors’ reptilian brains. Physiological arousal motivates a fight-or-flight response that helps organisms catch food or flee from predators. We no longer have to chase our dinner or worry about being eaten, but the activation arousal provides still facilitates a host of everyday actions. When aroused we do things. We wring our hands and pace back and forth. We pump our fists in the air and run around the living room. Arousal kindles the fire.”
Excerpt from page 109 of Contagious by Johan Berger.
Walk the walk.
If a company really wants the value-based strategy to stick they should focus on taking action, because consumers are going to end up wanting more than just a silly marketing tactic. Ben & Jerry’s is a prime example of how to do this right. We also see it with a ton of local business here in Grand Rapids, Michigan (a very progressive city). In fact, local businesses seemed to have beaten corporate brands to the punch. Either way, it’s a classic case of ‘don’t talk the talk, walk the walk’. As we discussed earlier — consumers are smart, you’re going to be called out if you aren’t true to your word.
Will it stick?
So we’ve come this far in the discussion and now need to ask ourselves a big question: is this value-based marketing strategy even going to work? I think it’s a wait and see approach, but here are my hot-takes:
- More politics? No thanks. With the state of political discourse, I’m not sure if companies should involve themselves with such a deeply political issue.
- But… it might be just what the customer wants. Maybe I’m not the typical customer of today.
- It’s not about Nike, it’s about the rise of consumer power and businesses’ inability to reach their core market.
- Get excited. It’s a fun time to be a marketer. Start thinking big.
If you’ve made it this far, thanks for reading. I’d love to hear your thoughts on Nike’s power move.
Mindful Marketing 