Titans Of Finance Undone By Larry The Cable Guy
When massive corporations decide to come up with a new slogan, they almost always end up with something short, trite, and massively expensive. Citigroup just unveiled its earth-shaking new slogan "Citi Never Sleeps," which is a reworking of its classic "The Citi Never Sleeps" tagline. But didn't they just spend $30 million last year launching a different slogan? Well yes, but that one didn't work out, because it sounded like it came straight from the mouth of bottom-rung redneck comedian Larry the Cable Guy. Derisive laughter is appropriate here:
Charles O. Prince III, Citigroup's former chief executive, wanted something fresh and focused on the theme of financial partnership, these people said. After months of research, the group settled on "Let's Get It Done," an invitation for customers to use more of Citi's services and a rallying cry for employees to get behind its turnaround...
But the tagline fizzled, despite a $30 million budget for the first two months of advertising. Although Citigroup executives maintain it tested well with customers, many employees, from senior bankers to security guards, were uninspired. The tagline also sounded like the "Git-R-Done" riff from the blue-collar comedian Larry the Cable Guy.
You might be a troubled CEO if...