A Tale of Two Cities Corporate Branding Brilliance or Luck March 19, 2014
Branding Example #1
! 2006: Citi paid $400M over 20 years for naming rights to the New York Mets new stadium
! 2008: Citi laid off 75,000 employees ! 2008: Citi took $476B in public cash and guarantees during
financial crisis
Citi Field name was a slap in the face to all of us
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Branding Example # 2
! 2012: Citi paid $41M for Citi Bikes – 10,000 bicycles in 600 stations across NYC
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May 2013
! Citi Bank is visionary, innovative and advocates for sustainability
– 4.7M trips taken – 9.4M miles rode – Critics silenced
! Favorable impressions of Citi increases 17 points – +12 points for innovation – +12 points for social responsibility
! Celebrity rides – Leonardo Dicaprio
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But What If…
! Bikes did not meet expectation – Low ridership – Racks were eyesores
! Multiple accidents – Negative publicity – Possible lawsuits
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Lessons
! Even well considered decisions may not work for factors beyond your control.
! Increases visibility creates magnified success or magnified failure.
! Even identified risks cannot be mitigated
Successful branding requires a dose of luck so don’t take all the credit
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