By Thomas Murrell MBA CSP, International Business Speaker
The personal marketing power of Eddie McGuire as chief executive of the Nine Network could add more than 100 million dollars to the company over the next five years.
Running a commercial TV station is a simple business model. The more eyeballs you have watching - the more you can charge for advertising.
Advertising is limited by time and space so the key is to get the maximum number of viewers with good programming.
In the case of Channel 9, analysts believe each rating point increase is worth about $40 million dollars in revenue a year.
McGuire's unique combination of charismatic personality, influencing skills and high profile makes him the perfect personal brand on which to build a new corporate identity.
Branding in today's competitive, crowded and noisy marketplace now needs to focus on three levels - the corporate brand for capital markets and external stakeholders, the internal brand for employees and at a leadership level, the personal brand of the CEO has a significant and often underestimated impact - McGuire has the qualities to succeed at all three levels.
Successful leaders with high levels of power, influence and charisma are able to align their personal brand with that of the company to add shareholder value and this is what makes the appointment of Eddie McGuire such a good decision.
McGuire's values of the ambitious, hard working and determined battler appeal to the Australian larrikin in us all, and because Nine's audiences, revenue streams and future fortunes lie with this target market, I'm convinced he will be a success despite his perceived lack of management experience.
Brands help keep products or services fresh in the minds of consumers - and good marketers and influencers are able to identify what is at the core of a brand - the McGuire personal brand will bring new energy to Nine's waning star.
The outstanding attribute of the McGuire personal brand is that his values are both authentic and aspirational and this resonates across a wide range of demographics.
McGuire is not afraid to have a go at the establishment and this much admired Australian trait coupled with his creativity and impeccable networking skills make him the obvious choice.
I'm calling this concept Integrity Marketing, where a good CEO will use their position, personality and power to align the values of an organisation with those of its staff and customers.
The Eddie McGuire story is the typical hero's journey and this is why his personal brand will add value to the company right from the CEO's door to the mail room floor.
His profile as President of the famous AFL Football Club, Collingwood has also helped create a powerful personal brand.
Learning from Eddie McGuire's success, if you're an aspiring or experienced leader here are five reasons why you should implement a personal brand strategy:
It sets you apart from your competitors.
It reflects your core values, personality, talent and skill set.
It increases your credibility, especially if you can harness the power of the media.
It establishes your expertise, authority and value.
It creates a success spiral that can boost your health, wealth and career.
For more media tips visit our website www.8mmedia.com.