Nike's Genius Marketing Strategy for 2020

Summary

This video script dissects Nike's 2020 marketing strategy, highlighting its success through emotional storytelling, celebrity partnerships, and interactive campaigns. It emphasizes Nike's mission to inspire athletes and its broad demographic targeting, from teens to adults across social classes. The script also details Nike's social media prowess, community engagement, and gender-focused campaigns, showcasing how the brand transcends mere products to embody success and motivation.

Takeaways

• 😀 Nike's brand positioning is centered around inspiration and innovation for every athlete, with a mission to 'Bring inspiration and innovation to every athlete in the world.'
• 🏃‍♂️ Nike's marketing strategy includes emotional marketing by telling athlete stories, which often do not directly showcase the product but focus on inspiring narratives.
• 🤝 Nike has successfully partnered with high-profile athletes like Michael Jordan and Tiger Woods, leveraging their stories and personas to connect with consumers.
• 📈 The company's annual revenue as of 2018 was $36.4 billion, showing a significant increase over previous years, indicating the effectiveness of their marketing strategies.
• 🌐 Nike effectively uses interactive marketing, such as their 'phenomenal shot' game during the 2014 FIFA World Cup, which increased engagement and showcased their products' prevalence in professional sports.
• 📱 Social media plays a crucial role in Nike's marketing, with creative and engaging content that resonates with their audience, including silent videos and original YouTube series.
• 🌟 Nike's advertisements are visionary and often focus on storytelling rather than just the product, with campaigns like 'Find Your Greatness' that have millions of views.
• 💬 They are very responsive on Twitter, engaging with customers in a fun or caring way, which helps build a strong community around the brand.
• 🏳️‍🌈 Nike is active in supporting social causes, such as LGBTQ rights, integrating themselves into communities and aligning with their values.
• 👩 Nike has dedicated campaigns for women, like 'Daughter of Nike', which are moving and challenge societal norms, showing their commitment to gender equality.
• 🎯 Nike targets a wide demographic range, from teens interested in sports to adults who maintain an active lifestyle, offering products at various price points to cater to different social classes.

Q & A

What is the annual revenue of Nike as of 2018?

The annual revenue of Nike as of 2018 was 36.4 billion dollars, representing a 5.96% increase compared to 2017.

What is Nike's mission statement?

Nike's mission is to inspire and innovate every athlete in the world. They believe 'If you have a body, you are an athlete.'

How did Nike use emotional marketing in its advertising strategy?

Nike used emotional marketing by telling stories of athletes in their ads, often focusing on their inspirational journeys rather than just showcasing the product.

Which young star athlete did Nike partner with at the beginning of its emotional marketing strategy?

Nike started its emotional marketing strategy by partnering with Michael Jordan, creating the perfect shoe for him which became a must-have for many.

What was the impact of Nike's interactive marketing during the 2014 FIFA World Cup?

Nike's interactive marketing during the 2014 FIFA World Cup involved a game called 'phenomenal shot' which was a huge success, driving engagement and showcasing Nike's presence with 94 out of 150 goals scored by players wearing Nike shoes.

How did Nike utilize social media to its advantage?

Nike took full advantage of social media by creating successful video ads, some of which were silent and impactful, as well as launching an original YouTube series called 'Megaburst Lily' to market their brand.

What demographic does Nike primarily target with its marketing strategies?

Nike primarily targets buyers between the ages of 18 to 45, mostly teens interested in sports, and provides athletic apparel catering to all social classes with different price ranges.

How does Nike position its products in the market?

Nike positions its products as high-quality, innovative, and fashionable. They are considered a brand that resonates with athletes and is more than just a product, representing a story and conviction.

What are some of the key marketing strategies that Nike frequently employs?

Nike frequently employs marketing strategies such as advertising through high-profile celebrity endorsements, direct marketing with organizations like local sports teams, and providing financial support to various groups.

How does Nike's marketing strategy differ from other brands in terms of brand presence?

Nike's marketing strategy creates a strong brand presence where consumers can envision what a Nike product or service would be like, unlike some hotel brands like Hyatt or Marriott, which lack distinctive branding.

What is the significance of Nike's 'Find Your Greatness' campaign and its impact?

The 'Find Your Greatness' campaign was significant as it inspired people to focus on their goals and was widely shared through short YouTube pre-roll ads, with the campaign accumulating millions of views.