Imus on Business

In what I think is a stunning turn of events, Fox Business Network signed Don Imus to begin simulcasting his morning show beginning on Oct. 5 during the 6-9 AM EST time slot.  Is this a good idea?  I think not.  Not that I have anything against Don Imus, but is this really a solution for the low ratings they have been experiencing?  Well it is if what is most important is the short term bottom line.  In the short term, adding Imus in the morning will almost certainly bring in some advertising revenue and some new viewers to the network.  But what about the big picture?  Let me re-phrase...what about the Fox Business brand?

More than likely, the viewers and listeners are not are not largely from the demographic that Fox Business wants to reach with its core message.  While the new viewers will tune in for the I-Man's show, will they stick around for the rest of the day?  Probably not.  Better yet, will the core audience that Fox Business is trying to reach tune in to see Imus in the mornings?  Probably not in large numbers.  Those money managers, traders, C-suite players, and Wall Street junkies will, in large part be getting ready for the market open.  Where will they do that?  CNBC or Bloomberg.

The even bigger issue for Fox Business is the loyal customer base they have already captured.  Will they turn to CNBC or Bloomberg until the Imus show is over and then turn back or will they leave there sets where they are never to return?

One of the most critical issues in branding is sticking to who you are.  In other words, credibility is everything.  No brand is credible in all areas so you have to be certain when making alliances that they match with what your brand stands for.  Don Imus might be a fantastic "shock jock", he might be the funniest the guy on earth, he might be the nicest guy you know.  It's all irrelevant.  The only thing that matters is his lack of credibility as an anchor on a business network.

What this does exhibit is short-term MBA business thinking; what are the numbers?  Brands are long-term assets, not quarterly reports for Wall Street analysts.  As one former Kraft Foods executive noted, "Good numbers don't guarantee your success, but bad numbers will get you every time."