Leading by example, CEO-style
Look at the ever-present Apple logo, and Steve Jobs in his black turtleneck and trademark glasses comes to mind. Think of the brand Virgin, and Sir Richard Branson with his signature mane and fiery eyes is sure to pop up in your head. Read about the latest Tesla car model, and one is sure to start thinking about Elon Musk with all his famous musings about the future of humanity.
And there are plenty more. Plenty more of such highly-rated CEOs, whom not only displayed great business acumen, but also upheld beliefs and values that have proven to be highly aligned with their respective organisations, over time.
Now, do note that the existence of such colourful, memorable CEO personalities is not a prerequisite for business success — not all money-spinning companies have CEOs that are well-known public figures and able to connect with their organisations in terms of beliefs and values. However, for companies that do have such inspirational leaders at the helm, the advantages and benefits in terms of marketing and profitability can very well turn out to be tremendously rewarding.
We call this phenomenon ‘CEO branding’. In terms of strictly dollars and cents, strong CEO branding can become a deal breaker in terms of helping companies attract investors and customers. Beyond that, strong CEO branding contributes towards the creation of an emotional connection and resonance with target consumer audiences. In a world full of cold and faceless corporations, having that personal human touch can go a long way towards building affinity and fostering loyalty.
The integration of the CEO’s beliefs, values and basically entire DNA into the particular organisation involves public relation efforts, media interviews, book signings, charity endeavours, speaking engagements, employee welfare, and the list goes on and on. Sir Richard Branson is a brilliant example of a CEO who has managed to do all of the aforementioned very, very well. His firm beliefs and values have somehow rendered his ‘David vs. Goliath’ corporate philosophy of being the perennial underdog very convincing and believable, despite the fact that his companies are by no means small in size or stature. And yes, Virgin Group has a net worth of over US $5 billion and counting. Did it all work out? You bet.
Strong CEO branding does not just reap the benefit of profitability, but also greatly improves and enhances the appeal of the company in the eyes of prospective talent. Headhunters have an easy time recruiting for companies like Apple, Facebook and Zappos because these companies have CEOs that embody strong qualities and attributes, of which are shared with the organisation and resonate well with potential recruits.
“Our number one priority is company culture. Our whole belief is that if you get the culture right, most of the other stuff like delivering great customer service or building a long-term enduring brand will just happen naturally on its own.”
However, just as much as an excellent CEO can lift the company to giddy heights of posterity, one wrong move can also cost the organisation dearly. Consider the case of Abercrombie & Fitch’s ex-CEO Mike Jeffries. Although Jeffries did indeed contribute towards building A&F up into a fashion behemoth, his astonishingly controversial public comments have also thoroughly embarrassed the company. His insensitive comments ranged from the highly superficial:
“That’s why we hire good-looking people in our stores. Because good-looking people attract other good-looking people, and we want to market to cool, good-looking people.”
to the downright ridiculous:
“Are we exclusionary? Absolutely. Those companies that are in trouble are trying to target everybody: young, old, fat, skinny. But then you become totally vanilla.”
And yes, by the way, A&F is rated as America’s most hated retailer. Even after Mike Jeffries have left the company. Not surprising there.
As you can see, CEO branding can definitely be an invaluable asset to companies, regardless of industry type. A good CEO is one who can run and manage the company well, but a great CEO is one who can inspire and motivate those working with him to scale even greater heights. A great CEO is driven by his or her own unique story and an indomitable set of values. And as they all say, everyone loves a good story.
With that, I would like to just leave you with the following quote from famous author Napoleon Hill:
“People buy personalities as much as merchandise, and it is a question if they are not influenced more by the personalities with which they come in contact than they are by the merchandise.”
How true.
