Insights With Trent Munday

Bloomberg is arguably the most well known brand in business media. A few years ago they launched a social-first, Twitter-first new brand which they called Tic Toc. Everything was going fine, until a crazy little social network all about dancing and lip synching to music started to become mainstream. What's the connection? Well that singing and dancing app was called TikTok.  Different spelling, but the same pronunciation. And the TikTok product resonated so much with its market that it just grew and grew. Ultimately, Bloomberg gave up, and renamed its news service to Quick Take. The battle was ultimately won by a product that was so successful in its segment, that it was able to create strong awareness in markets that were polar opposites - like a business news service. In this case, I believe, Product was able to beat Brand. #product #brand #tiktok #tictoc #bloomberg