How Nike Built A Billion-Dollar Brand & 3 Lessons We Can Learn
A good friend of mine recommended the book; Shoe Dog by the founder of Nike, Phil Knight. Ever since I have been even more in love with Nike’s legend.
“I’d tell men and women in their mid-twenties not to settle for a job or a profession or even a career. Seek a calling. Even if you don’t know what that means, seek it. If you’re following your calling, the fatigue will be easier to bear, the disappointments will be fuel, the highs will be like nothing you’ve ever felt.”
— Phil Knight, Founder of Nike
Nike is the biggest sportswear and apparel maker in the world, putting it ahead of rivals Adidas, Puma and Under Armour. Its dominance in sports retail is indisputable. Nike is an adored brand by everyone from teens to adults. But what are the reasons for their success?
They had incredible sales in 2020 during a pandemic, last year and the year before last. They have been steadily growing since Nike’s inception. This is however not the reason for their success but simply a by-product of their effectiveness. It’s an output and we need to discover their inputs to understand what made them so successful. What’s inspiring about Nike is three-fold — their mission, marketing, and branding but first a little bit about their founder; Phil Knight.
Phil Knight is a person who knows how to go after what he wants, even if he didn’t have the experience. Phil thought that he had stumbled upon a great opportunity in his early twenties. He knew that to take advantage of it he’d have to establish contact with a Japanese company and negotiate to import their goods to America, both of which were actions he had zero experience with. But, as is befitting of the man who’d later create Nike, he went ahead and just did it. Probably a lesson in this alone, the kind of courageous attitude you need to have to make an idea work.
Mission
Like other great brands, Nike understands that they are not in the business of selling athletic shoes and apparel. Instead, they inspire people to become part of their cult-like culture and make everyone want to achieve their personal best — the famous Just Do It slogan!
All great consumer-facing brands recognize that their product and services are just methods for reaching higher aspirations of human beings.
Marketing
Nike has rooted its unshakable brand and logo through extensive marketing investments. They focused on the higher needs mentioned earlier and rarely sell their product but instead the emotional benefits of their products.
Marketing is something Nike truly excels at. Nobody does this quite like them. I would be shocked if there is a single person reading this article who hasn’t heard of Nike; in fact, most of you probably owned at least one Nike product during your lifetime.
Branding
By creating a great positive image by associating with some of the greatest athletes. From Michael Jordan, Tiger Woods, and Cristiano Ronaldo to Rory McIlroy. Cementing in the end consumer the high regard and quality of the brand. People associate the best with Nike and why purchase Nike’s products aspiring to more in their own lives.
Their messaging has been consistent from the beginning. The ‘Just Do It!’ slogan goes synonymously with the brand. The logo of the ‘swoosh’ has been around even longer. It’s fascinating that one of the world’s most valuable and recognisable brands purchased their logo for just $35.
“The cowards never started and the weak died along the way. That leaves us, ladies and gentlemen. Us.”
― Phil Knight, Founder of Nike
