Cristiano Ronaldo and the 4 billion in damages to Coca Cola. The influencer creates, the influencer destroys …
Cristiano Ronaldo caused havoc in the world of consumer goods and beverages when he moved Coca Cola from the press conference table by inviting you to drink water.
The gesture – which would be considered superficial and meaningless almost anywhere else in the world – caused Coca-Cola stock to collapse during the week. The company lost about $ 4 billion from its market valuation.
Not only was the incident echoed throughout the sports and beverage world, it was then widely covered in the international media.
Ronaldo's taunt against Coca-Cola highlighted the "flip side of the rise of sports influencers," according to a new Bloomberg editorial. Ronaldo's seemingly insignificant gesture showed how "the power of individual stars, amplified by huge social media followers, can reverse the partnerships companies have formed with teams and events," wrote author Andrea Felsted this week.
It all stems from Coca Cola's desire to join UEFA in financing the European championship. At the same time, however, Ronaldo was not tied to Coca Cola. So there was no impediment for Ronaldo to do what a devastating gesture. At the same time, empowering influencers and sports stars, using them as driving elements of their brands, also means making sure they have the possibility of damaging the brands themselves.
But now brands like Adidas and Coca-Cola have cut their individual athlete sponsorship expenses and have focused more on team / tournament sponsorships. Meanwhile, Nike has continued to rely on the star power of some big celebrities to help lead its brand: Michael Jordan, Serena Williams, Naomi Osaka and LeBron James, to name a few.
Then there are risks related to the particularities of the single stars, their beliefs, their preferences, their morality. Paul Pogba, who is a practicing Muslim, removed a bottle of Heineken from the press conference held on Tuesday after being named Man of the Match after France's victory over Germany. No alcohol when he's there even though Heineken, who is Coca Cola, is a sponsor.
Betting everything on influencers is a double-edged sword. A brand is linked to a person, to his twists and turns, to his tastes. Billions of investments linked to a single figure. Good luck.
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The article Cristiano Ronaldo and the 4 billion in damages to Coca Cola. The influencer creates, the influencer destroys… it comes from ScenariEconomici.it .
This is a machine translation of a post published on Scenari Economici at the URL https://scenarieconomici.it/cristiano-ronaldo-ed-i-4-miliardi-di-danni-alla-coca-cola-linfluencer-crea-linfluencer-distrugge/ on Sun, 20 Jun 2021 15:41:50 +0000.