Momentum: By Guest Blogger, Jim Casella, CEO, Case Interactive Media
For everyone’s benefit, I’m taking a little break from blogging today, b2b-ers. Enjoy these words of wisdom from Jim Casella. You can also check out his blog here.
As we start the new year, the word that keeps coming up in politics and business is “momentum.” Hillary lost it in Iowa but regained it in New Hampshire. McCain lost it six months ago when his campaign started to run out of money before he had run any ads, but he regained it in New Hampshire and hopes to keep it in Michigan and South Carolina. Rudy believes he will gain it in Florida, but it could be too late in the game going into Super Tuesday, February 5th. Mitt claims he has won two silvers, but silvers do not give you momentum. Edwards clearly does not have it and pressure will mount on him to get out of the race after South Carolina and make it a two-person race for the Democratic nomination. Huckabee claims he had it for a moment in Iowa, but he lost it in New Hampshire. Obama clearly has it, but it slowed down a bit in New Hampshire. One of the candidates in each party will certainly grab the momentum ring on Super Tuesday and ride it to the White House in November.
The media business is very similar to politics and sports. When you are winning and on top, it feels like it will last forever. But as Andy Grove, the former CEO of Intel, and others have stated, “only the paranoid survive.” Those of us who grew up on the advertising side of the business know how quickly fortunes can change and how difficult it can be to represent a property that is not #1 or #2 in its category.
As managers, we need to make certain that our businesses are constantly innovating to insure that we are not in the position of losing momentum for our core brands. Media brands with significant good will and brand equity will allow for tarnished brands to be rebuilt, but it is very challenging. Does anyone recall brands like Atari and Sega, which were once the leading video game platforms and seemed invincible? Keep checking those scorecards and doing research to insure that your leading properties will deliver strong results in ‘08 and beyond.
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