Footwear giant Nike (NKE) is going big on a Super Bowl Ad Campaign to win back consumers and create demand. Nike has started airing a one-minute commercial showcasing some of the world’s best female athletes with the message “So Win.” This is Nike’s first Super Bowl commercial since 1998’s “Swoosh This.” The athletic footwear maker has realized the importance of brand marketing and is turning back big time toward the traditional marketing domain to win back audiences and potential customers.
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Nike’s Super Bowl 59 Ad Is a Winner
Nike’s Super Bowl 59 ad featuring athletes is the company’s way of turning around its marketing strategy and bolstering sales. The ad runs Led Zeppelin’s “Whole Lotta Love” song in the background, while Grammy-winning rapper Doechii’s voice delivers heart-warming limitations that society puts on athletes and wraps up with the words “Whatever you do, you can’t win. So Win.”
Released on Sunday, February 9, the commercial is already making waves. Some of the renowned athletes featured in the ad include WNBA superstars Caitlin Clark, A’ja Wilson, and Sabrina Ionescu, Olympic gymnast Jordan Chiles, and tennis ace Aryna Sabalenka, among others.
Here’s Why Nike Is Betting Big on Super Bowl
For a long time, Nike turned toward performance marketing to create demand, and the strategy was clearly not working for the footwear maker. The company’s performance marketing approach aimed to establish an emotional connection with customers through high-profile athlete endorsements and social media engagement.
Nike has been spending billions on marketing campaigns, with $4.29 billion spent in Fiscal 2024. Super Bowl commercials cost millions for advertisers. For instance, this year, a 30-second ad was sold for $8 million. Nike hopes the millions invested in this ad will surely return handsomely. It spent millions on a Paris Olympics ad that featured LeBron James and Serena Williams. Interestingly, the company has started shifting its budget from performance marketing to brand marketing, aimed at boosting brand awareness and generating more demand.
Some of the other companies betting big on Super Bowl ads this year include Anheuser-Busch’s (BUD) Bud Light Beer and DoorDash (DASH). Meanwhile, ChatGPT maker OpenAI is also making an ad debut at the Super Bowl this year, with a black-and-white one-minute ad.
Is Nike Stock a Good Buy Now?
Analysts remain divided on Nike stock owing to a highly competitive market. On TipRanks, NKE stock has a Moderate Buy consensus rating based on 14 Buys versus 14 Hold ratings. Also, the average Nike price target of $84.29 implies 22.7% upside potential from current levels. In the past year, NKE stock has lost 34.8%.
