The golfing world was celebrating the resurrection of its own god in the week after Easter. Millions of fans, television broadcasters, marketers (from whatever is left of the Tiger Woods saga) and most important, the PGA (Professional Golfers' Association), all heaved a sigh of relief after Woods announced his return to competitive golf at the Augusta Masters tournament. Will Brand Tiger too undergo a resurrection?
Consider the leading indicator. Around 6.86 million Americans watched his well-orchestrated, well-rehearsed televised mea culpa on Feb. 19 this year; so many that the trading volume on the New York Stock Exchange fell to 1,000,000 shares -- the lowest in the week -- the moment his speech started. A modern-day adage in America says "if there were a television set in every living room 70 years ago, Americans would have never elected a man in a wheelchair (read President Franklin Roosevelt)." With Woods it could well be the exact opposite.
History, too, tells us that a comeback is possible. Woods is not the first sportsmn to walk on the wild side. Ben Johnson (Seoulgate), Hansie Cronje (match fixing), Shane Warne (steroids and womanizing) Kobe Bryant (accused of rape) and more recently Michael Phelps (marijuana use) have come under the lens. If you break the law and go against the spirit of sportsmanship (cases in point: Johnson and Cronje) a return is well nigh impossible. Personal disasters are easier bunkers to drive out of.
Humans practice the ritual of exoneration diligently. We are a forward-looking breed and always see light at the end of the tunnel. This apart, the simple philosophy that "every American deserves a second chance" has helped many a fallen angel in his comeback. Case in point: basketball star Kobe Bryant.
In 2003 Bryant was accused of raping a hotel employee. Akin to the Tiger Woods saga, McDonald's, Nutella and Ferrero SpA terminated their endorsement contracts immediately, while Nike and Coca-Cola didn't. The suit against Bryant was dropped, and both these brands have reaped tremendous benefits. Bryant's career since his return has been a phenomenal success, including participating in the NBA championship in 2009 and winning the MVP in 2008. Nike's commemorative Kobe Bryant shoes line (Zoom Kobe, Hyperdunk, Huarache) is one of the highest selling brands of shoes worldwide, and his replica jerseys are the bestselling basketball jerseys ever.
To start with, the brands that stayed with Woods will benefit. Post his "transgressions," barring Nike, EA Sports and Tag Heuer, all the others gradually deserted him. Gillette has been noncommittal.
When Tiger Woods takes to the fairways on Apr. 8, he will hog the spotlight as never before. Every move, every practice swing, every little chat with his caddy Steve Williams will be closely monitored and even dramatized by the TV networks.
With public sentiment gradually swinging in Woods' favor after his public apology, Nike and Electronic Arts have realized that notoriety is not a bad thing after all. It represents a ton of exposure for their brands and their endorser. Both will be talked about on every television show, blog, online chatroom and call-in radio program across the world. It is expected to be the most watched Masters tourney ever, the most heavily photographed, the most actively YouTubed and Hulued.
Augusta is great for these brands as well. Augusta created history when about 43 million Americans watched Woods win the 1997 Masters, his first and also the first major triumph for a black golfer. That's still a world record for a Masters telecast. This year it is being predicted that the Augusta Masters will have bigger audiences than Barack Obama's inauguration (37 million). It is bound to be the biggest media spectacle in recent times.
Nike's paraphernalia, namely the shirt, cap, ball and bags, will suddenly be at the center of the universe. EA Sports will never find a better time to launch its hugely popular game Tiger Woods PGA Tour 11.
Woods on his part will have to deliver. A decent performance at the Masters and he will not only assuage marketers but also demonstrate the greatest resurrection ever. It will also get his brand identity back on rails from where it is now. His performance on the field will be the best way to do this. And this will get new guys to bank on Woods' appeal.
The most likely brands would be the competitors of his former endorsees. It will allow these corporations to take "brand equity" away from competitors who spent millions of dollars building their image through Woods.
Verizon could easily slot into the vacancy left by AT&T. AT&T has Apple's clout to bully around. Verizon should quickly grab this opportunity and have Tiger Woods do a Steve Jobs spiel for them.
Coca-Cola's Powerade is a sports drink that competes directly with PepsiCo's Gatorade. Powerade has 20+ per cent market share versus Gatorade's 70+ per cent. Tiger Woods could help increase the market share of Powerade more than any other sports celebrity.
Citizen should replace Tag Heuer soon as the later has stopped using Woods in its marketing efforts. Citizen is pushing its high-end Eco-Drive range and has a few endorsers like NASCAR Driver, Matt Kenseth, American footballer Eli Manning and LPGA women's golfer Paula Creamer. However, none of these have the global reach that Woods can offer.
However, riding Brand Tiger will be a tricky affair. The brand manager will have to assess whether his brand is a leader, challenger, underdog or an ex-champ. Then will come the task of establishing synonymity between the attributes of the brand and the virtues -- we know about the vices -- of the personal brand Tiger Woods. The positive is that Woods has had the courage to come out in the open and accept his sins. The communication around him shouldn't be too over the top. The mass hysteria around him will do the trick. Woods' agent, Mark Steinberg, is on the lookout for new brands to associate with, and at the moment Woods is available for the cheapest price in a decade. Go figure!
