Let us look at some of the stark statistics of the primary challenge. Rep. Cantor had a campaign fund of more than $5 million while his challenger Dave Brat raised just $300,000.
- Customers vote with their wallets: The key takeaway is from Dave Brat, who said, “The reason we won this campaign, there is just one reason, and that’s because dollars do not vote — you do.” The product or service you are offering matters much more than the communication about the product or service.
- Message relevance: With a differentiated message relevant to the audience, you don’t need a lot of investment to amplify the message.
- Unwavering core principles: Cantor constantly changed his positions on immigration, bailouts, etc. Brands to be relevant over long periods need to morph the message as consumers interests and priorities change. But the core essence of a brand should be non-negotiable.
- Don’t go head to head when you are ahead: Cantor’s aggressive ad spending boosted Brat’s name identification at a time when he didn’t have the wherewithal.
- Never underestimate your competition: Brat’s campaign was run by a relatively inexperienced 23-year old campaign manager armed with a Walmart flip-phone.
- Consumer sentiments can change quickly: As per a poll in late May, Cantor was leading 62%-28%. Two weeks hence, and Cantor loses by a margin of 10%.
- Perils of leadership: As an executive you may be few layers away from the customer, and consequently, out-of-touch with reality. Cantor was busy setting the Republican agenda in the Congress, while Brat was working closely with the locals and listening to the likely voters.