What Durex's Formula 1 Sponsorship Can Teach Us About Brand Awareness

Back in 1975 condoms were kept behind the counter at pharmacies.

You’d walk in, ask the pharmacist for a pack of condoms, and they would hand you one.

Durex felt they were losing a lot of money because of this.

So, in 1976 they decided to sponsor a Formula 1 racecar.

That year, every time these 18-35 yo males would sit down to watch the Grand Prix they would hear…

“Durex around the corner”

“Durex pulls into first”

“Durex… Durex… Durex…”

As a result, they began to build a tremendous amount of brand awareness, to the point where people would march into the Pharmacy and ask for a package of Durex.

Now, let’s dig into why it's important for you to build a strong personal brand.

“A product can be copied by a competitor, a brand is unique.” - Stephen King.

This quote highlights 1 of the benefits of a strong brand, but first, let’s understand what Brand Equity actually is.

I will explain it in simple terms.

Brand equity consists of two components:

The first is brand awareness.

The second is brand association.

First, we need people to know that we exist.

Then, we need to create positive associations with our brand, so it becomes top of mind when they are making buying decisions.

Building a strong brand is an incredibly important part of building a successful business.

In 2014 Data2Decisions released research on the top 10 ways to improve advertising ROI.

Among the list included things like targeting, creativity, where you’re advertising, and even the price.

Topping the list was “Brand Size” with a profit multiplier of 18x.

Now, if that alone isn’t enough to get you reconsidering investing in building your brand…

Let’s dive into why 9 benefits of a strong personal brand and why you should build one:

1 → Marketing ROI:

Bigger brands get a higher ROI from their marketing.

As stated, Brand Size has a profit multiplier of 18x according to Data2Decisions.

2 → Premium Pricing:

The strongest brands in the market can often charge upwards of a 30% premium over the commodity equivalent. Bigger brands have a higher perceived value and this decreases people's sensitivity to the cost.

3 → Increased Opportunites:

The bigger your brand the more opportunities you have. For example, if you sell energy drinks, if you have a large brand you have a greater opportunity to be sold in more stores. For a small business, this could mean the bigger your brand, the easier it is to get on people's podcasts or landing brand deals and sponsorships.

4 → Protection Against Competition:

Brand acts as a market differentiator. Bigger brands can last longer and not be copied as easily.

As Stephen King wrote...

“A product can be copied by a competitor, a brand is unique.”

5 → Sales Volume:

Bigger brands generate more volume in sales.

6 → Brand Loyalty:

Once people establish a bond with a brand, they are more likely to re-buy and less likely to switch to a competitor.

7 → Diversification:

The bigger the brand the easier it is to diversify or branch into new products or new markets. Take Dwayne “The Rock” Johnson who’s launched Teramana Tequila, ZOA Energy drinks, owns the XFL to name a few, and is now worth almost a billion dollars.

For a small business, this could mean launching a new product or course.

8 → Teams & Employees:

You can acquire better people, at a lower cost.

They often work for less and stay longer.

Take Google.

Google has access to the best talent on the planet because of its Brand Equity.

9 → Brand Becomes An Asset:

When we speak of large companies like Coke, or Pepsi, the brand because an actual asset that can increase the valuation (worth of their company).

As coaches, creators, and small businesses, we have far more options for building a personal brand than Durex did back in 1975.

Instead of sponsoring a Formula 1 racecar, we can reach millions of people with nothing more than a free-to-use social media app like TikTok and the phone in your pocket.

Landon