For literally decades the horse racing brand was sound. The stands were full, betting was stout and the state of the game was more than fine. California racing especially had a strong associated brand – the big pools, sunny weather and a place one could always get a bet down.
In 2011, this brand is being challenged; not by Indian Casino’s or slots, but by customers.
When customers challenge your brand it means one thing and one thing only – sales will fall. Organizations meet the challenge different ways, one of which is by clinging to the old brand exceptionalism, and looking for blame rather than solutions. Today marketer Seth Godin looked at this phenomenon:
“So, your brand doesn't do anything wrong. What it does is the best it could do under the circumstances. Someone who knew what you know would make the very same decision, because under the circumstances it was the only/best option…. you say it is not fair or expected” he wrote.
He goes on to say that once this thinking is entrenched, it is “impossible to innovate”, because innovation can mean failure. When you believe you are exceptional and your loss of market share is everyone else’s fault, why would you innovate. It’s a vicious circle.
When we look at failed brands across the landscape, or in general business anywhere, most market share losses can be traced to the corporate culture at its very core: Where decisions are made at a fundamental level. If you don’t even know your brand is broken, and no one you surround yourself with has the guts to tell you it is, you are in serious trouble.
Godin alludes to this:
“Brand humility is the only response to a fast-changing and competitive marketplace. The humble brand understands that it needs to re-earn attention, re-earn loyalty and reconnect with its audience as if every day is the first day.”
Horse racing’s leadership, and media in some quarters, can coddle and sympathize when decisions are made at the highest level. “What else could they do, the economy is bad” we might read. This does not do us any good. Sitting around boardrooms, or reading turf press that encourages failure and the status-quo, with everyone preaching to a choir can be dooming to horse racing, or any business.
Samuel Goldwyn once said: “I don't want any yes-men around me. I want everybody to tell me the truth even if it costs them their job.”
In my opinion we need some in our leadership, especially in California, to ditch the yes-man dogma and stand up and say “Our brand is broken because our customers are telling us it is. What are we going to do about it?”
A little bit of brand humility can go a long, long way.
Related: Art Wilson looks at the TOC and California handles.
Subscribe to:
Post Comments (Atom)
Most Trafficked, Last 12 Months
-
Standardbred Canada has a poll up asking who is the greatest trotter who ever lived. These questions are fun, but really it is impossible t...
-
There has been a lot of discussion of late via #simocon about racing, betting and signals and all the rest. The main theme is that racing ca...
-
The news hit the wires today that TVG is in search of a new CEO. This news assures a shake-up in programming at the huge ADW, especially w...
-
How do we differentiate ourselves from thoroughbred bettors? What are the pros and cons of being a harness bettor? In a recent article at R2...
-
A lot of you have seen this Portnoy post about his beat in the Pick 6 at Del Mar yesterday: I made it to last leg of pick 6 at Del Mar. I h...
-
In 1996, most know that the pari-mutuel tax on wagering was reduced from 7.5% to 0.5% as part of the slots at racetracks program. The indust...
-
I saw this tweet by Nick yesterday. Nick is the morning line maker at Keeneland. I promise I’m not being a smart ass. I clearly made a horr...
-
Harness racing is a unique bird when it comes to driving styles and driving colonies. Whereas in Thoroughbred racing, a jock does not race a...
-
Sitting outside, or in the grandstand at Greenwood brings back many memories. Racing was super-popular and we usually had a packed house and...
Similar
Carryovers Provide Big Reach and an Immediate Return
Sinking marketing money directly into the horseplayer by seeding pools is effective, in both theory and practice In Ontario and elsewher...
No comments:
Post a Comment