Mohammad Ali, the greatest boxer and athlete of all time, recently sold the marketing rights to his name and image for $50 million. What’s amazing is that it’s been 15 years since ‘the greatest’ retired. The influence to this day of Mohammad Ali’s dramatic career record of 56 wins - 37 by knockout - and 5 losses, and a most entertaining personality who "floated like a butterfly and stung like a bee" shows the value of a brand and in particular the strength of his own.
So when thinking of what makes such a powerful brand, I remembered the three key elements needed for a successful image that I had learned during my PR industry days. These were Performance, Communication, and Exposure. Against all three, Ali certainly was exceptional. First, his Performance showed that he walked the talk and delivered exceptionally in his field. Second, his ability to Communicate in an entertaining and principled style captivated his audience. Finally, he gained global Exposure by performing internationally in such memorable events as 'The Rumble in the Jungle' (Zaire) and 'The Thrilla in Manila' (Philipines).
Not everyone can reach Mohammad Ali's stature, but there's certainly much to be learned from his career both at a personal level as well as corporate. Oh and by-the-way, in the $50 million contract, he did not allow the marketing company to use his name with any tobacco or alcohol related products or services.
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