There’s an old adage in branding, “Brand reputations take a long time to build and a short time to destroy.”
Boy did Tiger demonstrate how true that is. Tiger had it all. World’s top golfer. Beautiful wife and children. Rich and famous. Wholesome, attractive image. Yet Tiger took a wrecking ball to his personal brand – one that he’s been building since childhood. It’s a Greek tragedy in its epic proportions and he has no one to blame but himself.
Tiger was the first billion-dollar athlete who had endorsement contracts and business partnerships with the world’s top blue chip companies, including PepsiCo, Gillette and AccentureThe companies who sought Tiger out to endorse their brands paid him top dollar not just because he was a star golfer and not just because he was famous. Companies sought Tiger as a brand endorser because he stood for something they wanted their brands to stand for too – success, vitality, wholesomeness.
Plus Tiger’s brand also represented something quintessentially American – self-empowerment. Tiger was wholesome, earnest and self-made. He came from a humble family that represented a melting pot of races – who through talent and hard work succeeded. He represented America at its best. We all wanted to be like Tiger. All that is changed now.
Tiger may have been a personal branding superstar, but he forgot one of the most important rules of branding: Your reputation is your most important brand asset.
Already, in just the short time since the scandal broke, the power and magic of the Tiger brand is taking a nosedive. The Davie Brown index that measures celebrity brand influence – how a particular celebrity can influence buying a brand and build brand loyalty – announced that Tiger dropped from 6th place overall to 24th place.
Of course, we don’t know how this saga is going to end. Tiger could even turn things around with a remorseful apology to his family, his fans and supporters – this time in person – and seeking professional help for his problems. It would take time, but anything is possible. America loves nothing more than a heartfelt redemption story.
As I like to emphasize in my branding talks, you are your most important asset. You are an asset that no one can take away from you. In my opinion, your personal brand is a more valuable asset than what we typically view as assets – your investment assets and your real estate assets. Personal branding is about maximizing the value of the asset that is you. It’s important to build your brand based on your authenticity – what is special, different and valuable about Brand You. And guard your personal brand reputation with your life. Because it’s that important.
Visit Catherine Kaputa’s website: www.selfbrand.com
