Once again proving to be bold and comfortable taking risks, Nike has started airing an ad featuring Tiger Woods. With all the controversy that has swarmed around Woods for nearly six months, not many companies would even consider associating with him. A number of companies that had previously used Woods’ name and image to promote their brands and products have parted ways with the golfer.
Did Nike do the right thing? It is too early to say. But my bet is yes.
What is clear is that this move is consistent with Nike’s risk-taking culture. They have consistently pushed the envelope to create a highly regarded global brand. When you can get people to pay well north of a hundred bucks for a pair of athletic shoes, you have some serious brand equity.
Consider this statement by Scott Bedbury as reported in Newsweek. Bedbury was head of advertising at Nike for seven years in the 1990s. He says the key to Nike’s success is its willingness to embrace “a culture of screw-ups. It really does learn from its mistakes.”
Mistakes and failure. Ah, yes – the other side of the innovation equation. When a company truly accepts and even values mistakes, innovation will follow.
