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« In Social Media Monitoring, You Can't Always 'Trust Your Instruments' | Main | Google Sidewiki exemplifies the saying, "Everyone's an expert" » Tiger Woods' One-Percent ProblemPosted by Matt Kucharski on December 3, 2009 at December 3, 2009 8:37 AMWant to know why Tiger Woods finally figured out why an apology was required, even though legally he did nothing wrong and his extracurricular activities are largely a private matter? One percent. Think about it. What happens if just one person out of one hundred decides to switch -- from Nike to Taylor Made, from Buick to Lincoln, from Tag Heuer to Cartier -- as a result of his actions? That's one percent of sales. One percent of sales on the products endorsed by Tiger Woods is real money. So, while I completely agree that Tiger's issues are of a private nature, acknowledging he made a mistake and making an honest effort to move on is the right thing to do -- both for his family and for the people who helped make him what he is today.
Trackback PingsTrackBack URL for this entry: CommentsYour instincts are spot-on. In fact, a recent UC Davis study calculated a combined 2-3 percent in lost market share for Tiger's top five sponsors. Pepsi (Gatorade), EA and Nike fared the worst, and now have a "4 percent problem" on their hands. So how do these percentage points tally up for shareholders? The study estimates they lost a collective $5 to $12 BILLION in the wake of the scandal. Time will tell exactly how hard Tiger's transgressions will hit shareholders, but I agree that a sincere, timely apology would help cushion the blow. The UC Davis study is available online at: http://faculty.gsm.ucdavis.edu/~vstango Posted by: Michelle Theilmann at December 29, 2009 9:13 AM Post a comment |
