Global Business Elite Jeremy Lin Brand Endorsement Value

After the end of the Yao Ming era, overnight fame Jeremy Lin quickly became the craving of big brands.

In February 25th, Jeremy Lin, who appeared on the NBA all star weekend, became one of the most watched players, but few fans knew his name two months ago. Unlike Yao Ming's first appearance in the US in 2002, it is completely different from many people's attention. Before becoming Linsanity, he has just experienced a series of draft failures, a bench bench on the bench, and a layoff by the team.

Now, this guy who is 8 years younger than Yao Ming and 38 centimeters short has been given too much meaning. He is a lifesaver to a troubled team. It is an inspirational model from the nameless name to the "American Dream". It even holds the fate of NBA in China. His experience has even risen to the realm of philosophy. Look at Amazon's bestseller list, one of which is called The Zen of Jeremy Lin, and another is Jeremy Lin: Art of war and art of war. Jeremy Lin, who was born and raised in the United States, likes to connect him to Oriental culture, both Chinese and Americans.

　　 Chinese fans Excitedly announces a new reason to watch NBA broadcast. At the same time, Nike, Anta, PEAK and other companies have quickly convened emergency meetings to discuss related endorsements. After Yao Ming retired, these brands willing to spend a lot of money on sports marketing did not find suitable alternatives. Liu Xiang and Li Na could only share a small part of their budget.

Whether Jeremy Lin can bring stability to the team and how much returns he can bring to the business is uncertain. The main function of star endorsement is to add points to the brand and how much sales growth it can bring. No one can make a judgement now. But this does not hamper the enthusiasm of the brand to this young player. When Jeremy Lin helped the team win the Lakers and hit the three point goal in the last second of the fierce battle against Toronto, the makers of the brand decided to make a bet.

Jeremy Lin is clearly not a quick success. So far, he has turned down numerous commercial contracts, including a million dollar endorsement.

In February 24th, the Nicks team was destroyed by the heat, which made Jeremy Lin's "crazy myth" temporarily interrupted. The worry is whether he can maintain a good state. The style is low-key and unreliable. For the brand, Jeremy Lin represents a business opportunity with limited resources and unlimited possibilities.

Jeremy Lin, a beware of spectators, began to pay attention to the Chinese soccer star when Jeremy Lin took part in the NBA draft. PEAK has a scouting team of three members in the United States. They are all Chinese studying in the United States. One of the people who signed the contract and Lin Shu Hao maintained a good personal relationship. During the NBA stop, the two players also played together. But the private affair finally arrived at the official business, and PEAK's "uncertain reasons" ended in the end. Jeremy Lin signed a contract with Nike in 2010 for a period of 3 years.

Although the contract has expired two years, the major brands are already fighting for the future. Rumour has it that Nike has extended contract to Jeremy Lin, and the new cost may increase to between 2 million and 4 million dollars. The local brands Lining and PEAK have expressed strong interest. There are rumors that PEAK CEO Xu Zhihua even went to the us to communicate with Jeremy Lin. Although the purpose of this trip is actually to cut ribbon for PEAK's opening in Hollywood branch, but since it is necessary to open up the US market, Jeremy Lin's identity is more suitable. PEAK has always been very proud of signing basketball stars. Before signing 15 NBA stars, including Yao Ming's teammate Lori, he was evaluated by ESPN's expert Hollinger as "a player with Jeremy Lin's shadow".

For Lining, who has been in the doldrums after the brand remolding, if he signed Jeremy Lin, he could become a shot in the arm. Lining signed a big shark O'neal before, and launched O'neal series basketball shoes. But in the industry view, this approach is not "on the road". "There is a saying in the row that" the center does not sell shoes, "because most people rarely have such a large body condition as the center. Zhang Qing, the founder of sports consulting company, told reporters. But Jeremy Lin is a guard, his body condition is close to the ordinary people, the shoes which take him as the template are more popular.

Other industries that have not yet been restricted by exclusionary agreements have already thrown olive branches, involving beverages, cars, IT and so on. Jeremy Lin's agent team revealed that several auto dealers had already made a lot of money.

According to people familiar with the matter, told Global Entrepreneur, as of now, Jeremy Lin and his agent team have refused to endorse the invitation of 17 local and Taiwan enterprises, and only five or six are currently talking about cooperation. "Lin mama is more cautious. She thinks Jeremy Lin has just hit the top and does not want to be overly high-profile, for fear that he will not be able to control it." "On the other hand, because they live in the United States for a long time, they are not very sure about their domestic businesses," the source said. At present, the cost of endorsement by Jeremy Lin has reached 4 million dollars. It is understood that the brand is now negotiating, the price is not lower than this figure.

However, there are also brands that have concerns. Jeremy Lin has participated in more than ten games so far, and the players need at least one season. The two season will be more rational. "Four million dollars has reached the Kobe level in the United States. For brands, it is now a hot stock, the risk is relatively high. Who can guarantee that a stock can keep rising? "The head of a Chinese sports brand said to the Global Entrepreneur," the safest way is to observe for a period of time. When he is stable, there is a real business positioning. " But as many brands look on Jeremy Lin, it's hard to wait until the return of rational value. Before that, every performance of Jeremy Lin may be a coordinate on his value curve.

Can value continue? " Lin Lai Meng How long can it go crazy?

2012 NBA draft scout report so commented Jeremy Lin: not a pure guard, dribbling too high, medium distance and three points are not good at, lack of confidence in jump shot, easy to make mistakes after physical decline. The advantage is: the first step is fast, the basket feels good around, amazing, good at choosing a breakthrough line, very good at using cover, solid ball, can break through the creation of opportunities under the basket, good at fighting back, very hard.

The merits mentioned in the report are all in Nicks's three matches against wizards, nets and jazz.

And his mistakes began to stand out. The Wall Street journal has detailed Jeremy Lin's hidden problems, including too many mistakes, weak defense and low shooting percentage. Jeremy Lin's first six games, five games were six or more turnovers. In February 24th, when the heat hit Nicks at home, Jeremy Lin made a lot of mistakes, contributing 8 points, plus 8 turnovers.

More scouting reports do not write about the characteristics, and gradually appear in practice and training. "Act according to circumstances, adjust ahead of schedule, read the opponent's defense quickly, make changes, attack tactics properly, take charge of the whole team when attacking low, and change the organization after the team's attack runs smoothly. These psychic aspects are not reflected in the scouting report. Basketball commentator Zhang Jiawei said. The highly educated background of Harvard University's economy not only gives Jeremy Lin excellent field intelligence quotient, but also helps to expand his breadth and depth in commercial endorsement.

NBA, well versed in the making of stars, knows how to assess the situation. Especially Jeremy Lin is likely to save his flagging business in China. On the other hand, Jeremy Lin attracted a star entrepreneur such as Zuckerberg to watch the ball. President Obama also claimed to be his fans, though he missed the heat's game against Nicks. "These messages are also very attractive to businesses, and their news sustainability may be more stable." {page_break}

For a star who can turn sports into social phenomenon (for example, Yao Ming), the performance is not the only judgement of commercial value. "Brand merchants usually focus on two kinds of people, the first is genius, natural stars, such as James and Wade; the second is those who have inspirational stories, and strive for achievements through their own efforts. Jeremy Lin is the latter. Liu Xiang, director of PEAK public relations, told reporters. Jeremy Lin once lost the NBA draft and sat on the bench for a long time. In 16 days, he was twice laid off by the team. His achievements today are seen as a reward from God for his perseverance. His story can be associated with many brand ideas, and his yellow skin can be associated with China. As for the details, Jeremy Lin has almost no negative news. "He has positive values and energy, and has been working hard."

However, Jeremy Lin's American identity will limit the market. "His market is not across the US and China." Insiders say. "Yao Ming's early retirement has something to do with the double battle between China and the United States, but if it is not for the two tier market, he will not be so angry." For brands, Yao Ming is a born basketball player, and his physical condition determines that it can last for a long time. "Yao Ming really represents the Chinese people, and in this respect Jeremy Lin can't compare."

　　 Nova risks How does the aura of earnings Jeremy Lin illuminate enterprises? Insiders say, there are two main categories of enterprises that connect with Jeremy Lin, one is sports brokers and the other is sporting goods brands. There is no need for brokers to benefit from sporting goods brands. "Jeremy Lin's brokers in the United States are mostly legal backgrounds, mainly dealing with players' legal matters and not focusing on commercial development. This gives many brokers opportunities. " These two kinds of enterprises are eager to win the contract with Jeremy Lin.

Generally speaking, brand selection and signing athletes need three criteria: first, whether they can match the spirit of the brand; second, whether there is potential, whether the future can play the role; and third, whether there is a story behind him can support commercial value. These three points mean that the brand must not only tap the spirit of athletes, but also need to invest for a long time to help players grow. In these respects, Nike is the best company.

When Nike signed Li Na, Liu Xiang and Jeremy Lin, the other side also had nameless names, but they all ended up shining brilliantly. In addition to vision and luck, the long-term training of athletes has also contributed to the success.

Nike has two marketing departments, one is the brand marketing department, the other is the sports marketing department, the former is responsible for advertising public relations affairs, the latter is mainly serving the contracted athletes, including ordering monthly to headquarters to meet the equipment requirements of athletes throughout the year, and is responsible for communicating with sports circles. Many employees have sports backgrounds, many of them are retired athletes, or have professional experience in sports fields. They rarely stay in the office, usually in the Sports Association (Field Association, Football Association, basketball association, etc.) and sports key schools, to explore young players.

Liu Xiang, a Nike employee Li Tong, was once the holder of the 110 meter hurdles Asian record for many years and the first athlete to sign Nike in China in 1981. He is now the director of Nike sports marketing department. Nike's scout needs to have the ability to feel his light before a new star shines. Even some special characters.

PEAK is training this model. The three members of the United States began to focus on the rookie from the NCAA university basketball competition, and also focused on the career planning and future direction of the players. Prior to signing Anthony morrow, PEAK had been watching for two to three seasons. When he saw lorry, he was still on the bench. "We want to invest for a long time, not who will win the lottery, not one or two seasons," he said.

But compared with international brands, local brands are much lower in the depth and rationality of players' application. "Endorsement is not just about making a new advertisement on a regular basis." Zhang Qing said. "From the beginning of the contract, players will be involved in product development, marketing and social media marketing programs. From the dissemination of content to business driven, we can truly grow together with athletes.

Nike once described itself as "the only company willing to invest in the future", and it is also willing to be good at cultivating tomorrow's stars. When Li Na was 15 years old, Nike sponsored her to go to the John Newcombe Tennis Academy in Texas, USA to train tennis skills and learn English.

After signing up for athletes, Nike will provide at least one professional to keep track of athletes' dynamics, feedback on their physical condition, exercise habits and needs, and then reflect on the products. Athletes will participate in Nike's basketball training camp to share skills and experience in playing basketball. Jeremy Lin used to teach ball control skills in basketball training camp. "The company provides more than just a endorsement contract, he provides athletes with more stage and greater possibilities."

Of course, for a brand, signing a player is always risky. Once the contract is signed, his performance and brand will be shared. "Athletes' life cycle has four stages: potential mining, ability training, performance performance and spiritual inheritance. Jeremy Lin is now in the stage of ability training, and the most important thing is to maintain state and maintain stability." Zhang Qing said.

This view coincides with that of Nike. Nike has made a statement to the outside world: "the most important thing at this stage is not Jeremy Lin's commercial value, but how to help him maintain stability. We are not going to have a flash in the pan.