So Much For That 'Watson Bump'
I read an article in the Dallas Morning News today about the folks at Adams Golf and how they were hoping to capitalize on Tom Watson’s performance in the British Open. Watson has been an endorser for a decade and happened to be using Adams’ clubs and wearing a hat with their logo as he made his unlikely run at the British Open this past weekend.
CEO Chip Brewer tells the paper how great the exposure has been and how Watson is “the face and the heart and soul of our company.” On no news, the article points out, the stock was up a combined 18 percent, totaling momentum from Friday and Monday.
Shares are down sharply today perhaps because the people who might have bought stock in the company are finally realizing that sitting and clapping probably isn’t the best way to cash in on your association.
I’m not sure what their budget is but found it pretty remarkable that Adams Golf didn’t have a single ad for Watson (see The Greenbrier’s full page ad in USA Today).
If that were too expensive, maybe they would have given him a special hat to play in Sunday’s final round.
And if that couldn’t be done, you’d at least think they’d get their Web designer to do some sort of Watson flash on the front of their Web page.
That doesn't cost anything.
None of this happened.
If there's a lesson that comes out of this, it will be that cashing in on sports marketing isn’t based on having your brand on television coverage.
It’s about taking that association and doing something more with it.
Nike knows that.
Hours after Stewart Cink bested Watson their golf site had an array of products to offer out of Stewart’s bag.
All the consumer knows at this point is that Tom Watson wears an Adams Golf hat and I guess they assume he plays their clubs.
But Adams hasn’t told us, so how can they hope to cash in?
Questions? Comments? SportsBiz@cnbc.com