Revolutionary Measures

Elon Musk and brand safety – a cautionary tale

Consumers increasingly want to engage with genuine brands with a personality. And in many cases this goes back to the founder and CEO. Think of Apple and Steve Jobs, Microsoft and Bill Gates, Burt’s Bees and Burt. Or, as I heard yesterday on Radio 4, Gwyneth Paltrow and Goop.

battle black blur board game

Photo by Pixabay on Pexels.com

In a world where consumers are bombarded with slogans from faceless corporations, having a figurehead that they can relate to should be an excellent shortcut to drive success. And, in many ways it often is. However, one of the key factors that drives people to found and grow businesses is self-belief that whatever they do is right, and that they need to battle the world to maintain their success. Add in that the more success they have, the fewer people there are around them who are willing to tell them when they are wrong and you can see a recipe for potential reputational disasters.

Elon Musk is a classic case in point. He’s built Tesla into one of the most recognised car brands on the planet, from scratch, and helped accelerate the spread of electric vehicles. Earlier in the year the company had a stock valuation of $50 billion – larger than Ford, despite its much smaller size (and profitability).

Of course, the key phrase is “had a stock valuation of $50 billion”. Musk announced in a tweet that he had the funding in place to take the company private at $420 per share. When it turned out he didn’t he was sued by both investors and regulators. A further tweet after he was fined for this saw the stock fall further, knocking $10 billion off its value. And don’t forget this is the man that called a British diver involved in the Thai cave rescue a ‘pedo’ and was recorded smoking pot on a podcast.

So how can organisations combine the creativity, drive and charisma of a founder with brand safety? There are four ways to achieve this:

1          Trust the CEO
You could, of course, just let the CEO do what they like, Richard Branson style, but that’s assuming that they understand that there are limits to their behaviour. In the case of true loose cannons (like Musk), this isn’t going to work. In the case of public companies it is also going to make the share price gyrate on a daily basis.

2          Focus on the product
A longer term strategy is to shift the focus from the founder to the product. So while the CEO might be introducing what the company makes, they are talking about what goes into it and what makes the company special, beyond their own personality. Bring in outsiders such as celebrities to subtly shift away from a single founder – a good example is the Virgin Media ads featuring Usain Bolt alongside Branson.

3          Build a team
No one person can run a multi-million pound company successfully. Leaders need help, so build a team and make sure that they are increasingly seen in the media. They are never going to have the same appeal as the founder – for example compare Tim Cook with Steve Jobs at Apple. But creating a wider team will deflect some of the attention over time and prepare for the point when the founder is no longer around.

4          Have people who can say no
Probably the hardest thing for an underling to do is to disagree with their boss, particularly if they have built the company from the ground up. Not many employees would embrace such an almost certain career-limiting move. That means telling founders that they are on the wrong track has to come from boards, independent mentors and from creating a culture where messengers are not shot, but encouraged. This is another long-term process, but one that needs to be thought of early in the process.

Balancing the marketing value of a charismatic figurehead with their wayward side is never easy – just ask Ryanair – but if brands want to stay around for the long-term they need to be ready to outlive their founder and put in place a framework and culture that turns ‘me’ into ‘we’ without losing the brand essence and magic they bring.

 

 

October 10, 2018 Posted by | Creative, Marketing, Startup | , , , , , , , , , , , , , , , , , , | 1 Comment

Write more, type less

According to research quoted by Richard Branson, half of 13-19 year olds have never written a thank you letter, and just 10% own a pen. And before we adults start moaning about teenagers, texting and social media replacing good old fashioned ink and paper, think back to the last time you hand wrote something, other than your name on a Christmas card.

Image of a modern fountain pen writing in curs...

As Branson points out, the act of writing long hand holds more meaning than an email or electronic message. You have to put greater physical effort into it, and you also need to think about it more, plan it and take time to actually write the sentences, particularly if your handwriting is as atrocious as mine. He points out that poems and love letters, no matter how scribbled, are the perfect way to crystallise feelings and emotions directly, rather than through the medium of a keyboard and screen. You can’t cut and paste sections of text, move things round or delete words without leaving a mess. Obviously this does involve more time, but that isn’t always a bad thing – particularly given the breakneck speed of modern life.

Writing shouldn’t just be about letters either. I find that physically taking notes is the best way of ensuring I actually remember what I’m hearing, particularly if I then type it out again later on. And planning in longhand is the perfect way of collecting your thoughts before drafting a press release or document and avoids starting with the soul destroying white space of an empty Word document.

The scary thing is that we are becoming physically less able and practiced at holding a pen. As a student I wrote for three hours straight in exams, without any ill effects, yet now I struggle to manage more than a single holiday postcard without getting cramp. Children today increasingly don’t need to write, with much of their coursework completed online, so no wonder that they don’t need to own a pen.

What we need is to embrace the best of both worlds – you need the skills to type quickly and organise your thoughts using modern technology, but also to take a step back, breathe and think about what you are trying to say. The pen is perfect for this – we should all remember to uses digits in the offline world, as well as the digital one. So, if you don’t have one, put a pen and notebook on your Christmas list and make a New Year’s Resolution to write more and type less.

This is my last blog of 2015, so thanks to everyone that has read, commented and shared my posts. Have a very Merry Christmas and a Happy New Year!

December 16, 2015 Posted by | Creative, Marketing, Uncategorized | , , , , , , , , , , | 1 Comment