What the NFL and Jay-Z can teach technology companies
August 28, 2019
Technology companies can learn much from the recently announced partnership of the NFL and Jay-Z.
The news sparked a debate throughout many circles. From sports media to political media and everything in between. The good, bad and ugly of the announcement have been covered ad nauseum.
While there are those who have praised the partnership for advancing social justice consciousness in the country, there are others willing to critique both parties, leading to questions about their motivations.
From a public relations standpoint, the agreement in the short term has generated mostly positive buzz for both the NFL and Jay-Z because of the anticipated availability of resources that can be leveraged for social justice causes with their involvement. However, those who continue to praise the partnership are realistic about when the return on investments will be realized.
This is where the risk of positive expectations can quickly turn to negative repercussions. Announcements like this, similar to those of technology companies, are about expectations.
When companies are ready to announce significant groundbreaking achievements, the question becomes how will they deliver on their pronouncements. While securing coverage in The Wall Street Journal and Bloomberg might be seen as significant wins when an announcement is first made, continued coverage centers on whether the company delivers on the promises made to the public.
While it is important to share significant announcements with the media and the public, it is even more important to realize that the larger the promises being made, the greater the likelihood for potential scrutiny and criticism.
My personal belief is that you should not be shortsighted by trying to squeeze a nickel today and risk a dime tomorrow. Technology companies could be served well by having a long-term view of their announcements, similar to what many feel the NFL and Jay-Z are employing with this recent partnership.