I just returned from a trip to Hawaii; I came home last Sunday, just in time for my Monday class. It’s not a good practice, but everything worked out fine.
I was in Hawaii to watch my daughter Claire compete in the Ironman World Championships in Kona. She did very well, survived (most importantly) and finished 5th.th in his age group. Amazing.
The experience was an immersion in the remarkable Ironman brand, both the power and the challenges.
Iron Man
The Ironman is a remarkable competition. First run in 1978, the race includes a 2.4-mile swim, followed by a 112-mile bike ride, then a marathon, a 26.2-mile run. Every part is difficult; I don’t think I’ve ever cycled 112 miles in a day and I’ve only done one marathon. Put them together and you get an event that borders on the absurd.
At Kellogg, we define brands as the associations linked to a name, brand or symbol. What are the associations around Ironman? I suspect they include challenge, endurance, achievement, discipline and fitness. Some might add crazy to the list, and that would fit too.
Ironman Brand Review
Ironman is an incredibly strong brand. It particularly excels in three dimensions.
First, Ironman has a great conscience. People all over the world have heard of the Ironman race. Few have actually done so. but a lot of people know that.
Second, the associations are very clear. Ironman is what it is. The brand is exceptionally well defined. It is a strong and distinctive brand. There is nothing fun, relaxing or casual about Ironman.
Third, Ironman has a customer benefit. This is an essential consideration for any brand. Customer benefit means that customers appreciate the benefit you offer them, are willing to pay for it, and consider you to be doing your best. For Ironman, the customers are the athletes and they clearly enjoy the challenge. They are also willing to pay for it. Participants travel to the races, invest in remarkable equipment and pay high entry fees.
There are competitors, but none have the power of Ironman. Just name another triathlon with these distances. I’ll wait.
Advantages
A powerful brand creates all kinds of benefits. It stimulates research and social activity, modifies perceptions, differentiates itself, attracts partners, creates trust and builds loyalty.
People also use strong brands to define themselves. I used to think Harley Davidson was the most tattooed brand. After a few days in Hawaii, I now think Ironman should get that honor.
Challenges
Even though Ironman is a strong brand, managing it is likely to be a significant challenge.
One challenge is ensuring the brand experience is positive and consistent. It’s not easy to organize one of these races; the race lasts 17 hours. How many cities will allow you to close streets for that long? How do you organize something like this and deliver a cohesive experience?
There is also the risk of something bad happening. When you push people that hard, some will struggle. I was arriving in Kona. Participants crossed the finish line and were then greeted by two assistants and medical staff. Within seconds, they were escorted to a covered walkway. I suspect this was carefully designed, to ensure that when people collapsed, as many did, they were out of sight. Ironman isn’t supposed to be like Nascar, where some people show up to watch the crashes. My daughter collapsed after being helped down the sidewalk and ended up in the medical tent. She’s okay, but the medical tent was pretty busy.
Another challenge is finding growth. The Ironman racing series is owned by World Triathalon Corporation, which was purchased by Advance Publications in August 2020. There is no doubt that Advance is looking for growth.
But how big can you build Ironman? Finding new locations is difficult and lead times are long. Capacity on races is capped. Pricing is an opportunity, but at some point it runs out.
The easiest way to create an Ironman is to expand it into shorter, easier, more logistically accessible races. In 2005, for example, Ironman added the Ironman 70.3 race, including a 1.2-mile swim, 56-mile bike, and 13.1-mile run.
But further expansion could harm the brand. Ironman experienced 5,150 races (1.5 mile swim, 25 mile bike ride, and 10 mile run). Is this consistent with Ironman?
We could go further. How about an Ironman marathon? It seems strange but maybe. How about an Ironman 5k?
Perspectives
Ultimately, Ironman is well-positioned for continued success, provided executives don’t push it too far.
