My parents once told me to choose my words wisely. It was an important piece of advice 20 years ago and it is even more relevant today. In this digital age, it is imperative that you think before you speak.
Nike recently made a very bold move and it’s blowing up on social media. Many athletes, actors and millennials are supporting the brand’s decision to have Colin Kaepernick as the face for their new “Just Do It” campaign.
While others are disgusted with Nike’s move as they burn sneakers and boycott the company. Nike has and will lose a large percentage of their customers due to this campaign. Nike’s shares fell 3.2% as the boycott grew and I expect them to lose more money this week.
However, as they have lost customers, I don’t see this hurting the company long term. This campaign was a very calculated decision. Nike’s target audience is younger consumers. And those are the customers who like and buy from the companies who take a social stance.
Gino Fisanotti, Nike’s vice president of brand for North America told ESPN that the new version of the campaign is meant to specifically speak to 15-17-year-olds.
More and more companies are taking a social stance because they believe that's what their customers want.
A study in January revealed that 66 percent of consumers want organizations to take a stand on political and social issues. From H&M to Pepsi and Ben & Jerry’s we continue to see big brands share their beliefs in their marketing.
But is mixing politics and social issues a smart move for brands? While it may work for some, I believe that it can be a slippery slope for many.
As a company, you have to be ready for the ramifications, customer loss and negative press. You must ask yourself if it’s worth it.
Social media and online reviews…they can be a company’s best friend or their enemy. In the past few years, lawsuits over negative reviews have risen. With this trend, there has been an increase in businesses suing consumers for their overzealous negative reviews and comments.
We’re excited to announce our new video blog question and answer series. Today’s question comes from Kyle Reyes, President and CEO of The Silent Partner Marketing. Kyle asks about what types of things should we plan for. All companies should take a look at their industry and look at what the potential risks are. You can’t predict what can happen, but you can prepare.