This is a great article that demonstrates how being Purpose-driven has enabled Nike to maintain its market leadership position over a number of decades, with consistent distance between itself and the No.2 brand over that period.
With the brand now worth $32.4 Billion, it is interesting to see that this valuation has been attributed to Nike’s value-based messaging and the bold marketing that brings their values to life. Also, key has been the shift from an aspirational brand positioning largely driven by their association with athletes such as Michael Jordan – “I want to be like Mike”, to a more purposeful and empowering “I want to be the best athlete I can be.”
This has seen Nike take a number of bold steps in its marketing and product ranges, from ‘Dream Crazy ’in support of Colin Kaepernick, which may have alienated some people, but translated into brand loyalty and sales. Being purpose-driven has also driven them to be brave enough to share many of its patents and technology solutions with potential partners who could help them be more innovative and sustainable in how they help everyone be the best athlete they can be.
Another great example of how being Purpose-driven can help organisations transcend market cycles, attract talent and inspire loyalty beyond reason from customers.