The Houston Rockets and Portland Trail Blazers, both looked over Michael Jordan in 1984, allowing the Chicago Bulls to pick him. After winning 6 NBA titles with the Chicago Bulls and breaking record after record, Jordan became the greatest of all time, unquestionably one of the biggest names globally, inside and outside the world of sports. When Nike signed Michael Jordan and launched the Air Jordan, it aimed to only make $3 Million a year, but by the end of the first year itself, the Jordan brand of shoes had made $126 million, and the franchise is still running strong.
One of the best examples of a well-executed powerhouse personal brand, Jordan remains the highest paid and undisputed leader when it comes to the highest paid athletes in history. However, this wasn’t an overnight success but a result of well thought of and consistent efforts, and his commitment extended to his relationship with the fans.
Jordan would ensure that he routinely engaged with them in ways most other players wouldn’t, which cultivated a fiercely loyal tribe of fans and made the brand “Jordan”.
Brands serve as beacons that inspire trust. A powerful brand emanates trust and safeguards consumers from the potential pitfalls of making incorrect decisions while enabling companies to ward off competition and command higher margins.
Personal brands have always played an important role in shaping and uplifting brands and creating the much needed connection with customers while answering the brand’s “why”. These influencers can influence their followers’ behavior as consumers.
In the past, these were the rich, famous, and glamorous. The Michael Jordans of the world, but with present-day social media and the internet, almost anyone can be an influencer.
It wasn’t long before many of the leading CEOs realized the power of strong executive brands and created powerful personal brands. With countless examples such as Elon Musk, James Gorman, Tim Cook, Gary Vaynerchuk, Satya Nadella, etc. several CEOs and executives have built carefully curated executive brands through a combination of charisma, point of view on trending topics, thought leadership on novel ideas, and their leadership in action.
In the ever-evolving landscape of brand strategy, the focus has traditionally been on the company’s brand. However, as we move forward, it’s time for marketers to shift their gaze towards a new frontier: the personal brands of executives. This is not to suggest that the company brand is losing its relevance, but rather to highlight the untapped potential of executive personal brands in enhancing the overall brand image of an organization. Executive branding is a powerful tool that helps shape the narrative around a company. It not only humanizes the organization, making it more relatable and trustworthy in the eyes of consumers, but also helps with personalization, by solving specific problems within a community.
Today, every brand is built around a company’s “Why” and it’s this why that creates that deep connection with customers. When an executive shares their thoughts, values, and experiences, it can create a strong emotional connection with the audience, which leads to brand loyalty. It also gives a glimpse of a company’s culture and values and the inner workings of the organization, showcasing its commitment to its employees, customers, investors, and the community.
However, utilizing executive personal brands entails confronting a distinct set of challenges. It requires a delicate balance to ensure that the executive’s personal brand aligns with the company’s brand. Any misalignment can lead to confusion and potentially damage the company’s reputation. It’s crucial for organizations and marketers to have a clear understanding and ensure that the executive’s personal brand complements a company’s brand identity. Furthermore, executives need to be authentic in building their personal brands. Authenticity is the cornerstone of personal branding, where executives need to be genuine in their communication, sharing their true thoughts and experiences, rather than crafting and channeling a persona that they think will appeal to the audience.
The future of brand strategy lies in leveraging the personal brands of executives. It’s time for organizations to recognize the power of executive personal brands and harness it to enhance their company brands. In order to achieve this, companies and marketers must have a strategic approach, delving deep into the essence of the company’s brand identity and providing executives with the necessary support. It demands an unwavering dedication to authenticity from executives, where every action resonates with truth and sincerity. Moreover, it necessitates providing them with the indispensable backing and resources, empowering them to craft their personal brands with utmost brilliance and distinction. With the right strategy, executive personal brands can be a game-changer in the world of brand strategy, providing a unique way to connect with audiences and creating vibrant digital communities with deep connection.
