One of my favorite all time brands is Nike. I have worn their shoes and apparel for years. I am a big fan of the “Just Do It” tagline and their innovative advertising campaigns. Nike’s message has always inspired me. Nike has never been afraid of controversy or taking an unpopular position on sports issues. They have made some mistakes but they continue to learn and evolve as a company.
Nike has a strong brand purpose, mission and culture that guides their actions. Their mission is to bring innovation and inspiration to every athlete in the world. Nike believes if you have a body you are an athlete.
Last year Nike produced $24 Billion in revenue. This is up 60% since 2006. Nike is a huge company with 44,000 employees worldwide. This week Fast Company Magazine named Nike as the number one most innovative company of 2013. This is an honor that typically goes to the latest digital startup.
With launch of the Nike Fuel Band, the brand is transforming itself into a digital force. It is also evolving its model from a product company to a products, tech, data and services company. This is an amazing transformation. They are helping people rather than just selling them stuff.
The Nike Fuel Band measures your everyday activity and turns it into Nike Fuel. It tracks calories burned, steps taken and more. You able to view your history. There is a social component which allows you to connect with friends. Nike is committed to helping people live more active lives.
Their other major innovation is the Flyknit Racer, featherlight shoes that feel more like a sock atop a sole. The Flynite Racer is created from knit threading rather than multiple layers of fabric. The result is a shoe that’s more environmentally friendly and could reduce long-term production costs. “Flyknit is an innovation that could potentially change the athletic shoe category.
Nike’s lesson to brand marketers is to think beyond selling products and figure out how you can provide a service that helps people in their lives. They understand that the digital and mobile world is about helping consumer’s get jobs done.
In your opinion, who is the most innovative company in the United States?