Years ago when I wrote my book on reputation recovery, I told how disgraced Tyco International waited until they had proved themselves before launching a new advertising campaign. I wrote:
“When it was time to formally declare that the recovery process was officially in place, new CEO Breen initiated two noteworthy advertising campaigns. The first introduced Tyco’s brand-new 13-person leadership team that replaced the entire previous executive team. The advertising targeted to Wall Street, legislators, and employees featured the following statement accompanied by individual executive’s signatures: ‘‘We signed on because we believe Tyco has a bright future. We signed below to show you we mean it.’’ The signatures underscored the point that these executives had personally signed up for the mission. The campaign underscored how Tyco’s new leadership team was standing shoulder to shoulder behind Tyco’s improving reputation. The 13-person team portrait also communicated that new leadership was focused on the team, not the individual. According to Jim Harman, Tyco International’s vice president of advertising and branding, ‘‘The message behind this campaign was that Tyco had hired senior managers with the highest level of integrity from diverse manufacturing companies.’’
The advertising served as a reminder to influential stakeholders that Tyco was well on its way to rebuilding the reputation it lost.
AIG has now joined these ranks. If you recall, AIG was the recipient of the largest government bailout during the recent economic crisis and was on the short end of the stick when it came to public outrage. Since the new CEO, Robert Benmosche took over in 2009, AIG rebuilt its business and began paying back its loans to the US government. No one believed they would do it. And yet just yesterday, the government sold off what was left of AIG securities for a surprisingly big profit of nearly $18 billion in profit. Although they launched this new YouTube campaign about their comeback several weeks ago with the tag line, “Thank you, America. We’re proud to be keeping our promise to stand by you,” their timing is right and I dare say they hit the right notes in the campaign.