Tiger Woods. Perhaps the greatest golfer of our time, maybe even all time. Not since 9/11 have we seen such rumors, and rumors of rumors, fan around the globe like this.
And what about Tiger's brand value? Regardless of how the story ends this may be used as a marketing case story for eons. His quick exit from the PGA Tour may have had more to do with a request from his sponsors so they could withdraw their sponsorships without losing face. Expect Tiger's calamity to be dissected ad infinitum by marketing types.
Let's look at both classic and recent example of what happens to a brand when it falls from grace.
- Richard Nixon
- Fell from grace for telling a gigantic series of whoppers in 1973 that smashed the credibility of the White House. By the time he died in 1994 he had recoverd a good bit of his street cred as a statesman but will be forever remembered as a disgraced president. His brand recovery strategy? Candor, plowing ahead and, eventually, owning up to his mistakes.
- Bill Clinton - Cigar, stained dress,"I did not have sex with that woman", impeached. Where is he now? A revered American statesman and 1/2 of the most politically powerful couple in the world. Today, there's better than even odds that he'll be our first First Husband come 2012. His brand recovery strategy? Blow up a camel and a tent in Afghanistan with a million dollar missile. Also called diversion. (DO NOT try this at home.)
- Peanut Corporation of America -
Salmonella? Who gives a crap as long as I get my bonus! This from company owner Stewart Parnell who was profiled by the media as perhaps the most heartless CEO since Chainsaw Al Dunlap. His brand recovery strategy? None. Filed Chapter 7 bankruptcy and called it a day.Too bad all those kids who are still suffering from his tainted product can't call it a day.
- A-Rod - What, me, steroids? His brand recover strategy? Start dating Madonna. Also known as diversion. (Again, DO NOT try this at home.)
- Michael Phelps - Reefer madness. He borrowed a page from Nixon's marketing book. He owned up to his dalliance and got back to work. Where is he today? Just landed in 4th place in AP's Athlete Of The Decade poll...behind Tiger (1st), Lance Armstrong (2nd) and Roger Federer (3rd).He's also back doing product endorsements on national TV.
- Elliott Spencer
- Disgraced former Governor of New York and Democratic Party's fair haired boy who paid for $1,000 an hour prostitutes with taxpayer money. His brand recovery strategy? Take full responsibility for his actions, stay married and work on it, keep a low profile, plan a political comeback rumored to take place in 2010. Awesome PR quote: "Over the course of my public life, I have insisted – I believe correctly – that people take responsibility for their conduct. I can and will ask no less of myself. For this reason, I am resigning from the office of governor."
- Swine flu - Everyone from the President on down has tried to be Chief Public Relations Poobah regards this 'pandemic'. In doing so they've proven that, even though truth can be manipulated by PR, viruses can not. In August and September 2009 approximately 292 deaths were attributed to swine flu in the U.S. Conversely, it is estimated that about 36,000 Americans die from regular flu bugs every year. It's just a tad suspicious that these mostly seasonal outbreaks are never called pandemic. What is the brand recovery strategy for swine flu drum beaters? Keep shouting the sky is falling way past the point where anybody's even listening. Most intelligent people would consider this a waste of time and money.
- Wall Street - Blamed for the Great Recession of 2008 through "TBD" due to their ludicrous invention of an investment called 'credit swaps'. Their brand recovery strategy?
- Throw one of their own to the wolves (Shearson Lehman);
- Create the illusion of buying into the Federal government's meddling in areas of high public visibility such as investment bankers' compensation;
- Blatantly test the power of the current administration by continuing to do business as usual, despite repeated warnings.
- United States Congress
- Their brand value is a heckuva lot worse than Tiger's. Talk about a work in If the recent election in Massachusetts is a market indicator it looks like demand for their services is in a freefall. progress...stay tuned on this one. Next report due on Nov. 3, 2010.
The great lesson in all this is that a brand's rise from the ashes is largely determined by the brand's post crisis behavior. In Tiger's case, however, it would seem that there was a true element of self destruction in his dalliances. Leaving texts and voicemails like he did suggests that he really wanted to be caught. He's just way too intelligent to have made those choices in ignorance.
No, Tiger's case seems suggestive of 'too much, too fast' which may have exacerbated any judgement shortfalls that were already present.
Tiger will be back if he chooses it.