At a preseason game in Providence, R.I., earlier this month, a young Boston Celtics fan sitting behind the Cavaliers bench wearing a white Paul Pierce jersey had a sign he made to get LeBron James' attention.
It read: "You Can't Be King Without a Ring."
James has endured significantly harsher signage and verbal bashing from hecklers during his NBA career, though those instances are generally dwarfed by his fans and positive signs even on the road. But that young boy is a cutting example of the situation that James finds himself in as he enters his sixth season with the Cavs.
Despite his at times unprecedented success on the court, James' stated goals to become both a "global icon" and basketball's first billionaire have been unexpectedly dragging.
It is becoming clear that if James wants to reach those heights, it will take more than great statistics and a well-planned international marketing strategy. He's going to have to do it on the local court by leading his team to the only major achievement still not in his grasp: a championship.
When James formed his own marketing company, LRMR Marketing, a little more than two years ago, he developed a strategy to maximize his profile heading into last summer's Olympics in China.
James did his part, putting up increasingly impressive numbers with the Cavs and leading them to the most playoff success in franchise history. He was also a captain and key part of Team USA's run to a gold medal, restoring America's basketball image.
A dynamic gold-medal performance with the U.S. Olympic Team enhanced James' reputation as a leader, but he remains behind Kobe Bryant and others as the NBA markets basketball.
LRMR CEO Maverick Carter and James' New York-based publicist, Keith Estabrook, did their jobs well, too. James made the covers of an impressive and diverse array of national magazines, from Vogue to Fortune to Men's Health to Black Enterprise. He scored high-profile gigs hosting both the ESPY Awards and "Saturday Night Live." He's become a regular guest with David Letterman and opened his home for a feature on his family by ABC last spring. After years of rejecting the offer, LeBron recently filmed an interview for an upcoming feature on "60 Minutes."
Yet despite this dream scenario of excellent play and massive media attention, James' products and popularity aren't soaring as expected.
"His Nike shoe and apparel sales have been just average, which means not very good," said Matt Powell, an analyst at SportsOne Source, which tracks sporting goods sales. "It is the same for jersey sales."
The NBA does not release actual numbers, but in its most recent rankings James is just third worldwide in replica jersey sales. In Europe, he ranks fourth. In China -- where James and Nike have focused their efforts with specialized campaigns, including games or promotional tours in each of the past four years -- James ranks fifth. The Celtics' Kevin Garnett and the Los Angeles Lakers' Kobe Bryant rank ahead of him in each list.
After making him the centerpiece of their ad campaigns in his first two years in the NBA, Nike has noticeably cut back on commercials featuring James over the past several years. Coca-Cola has dropped him from their higher profile Sprite ads and put him in more niche ads for Vitaminwater.
Analysts have been surprised that Microsoft, which inked a deal with James to promote their MSN Internet product a little more than 18 months ago, hasn't activated its relationship with James other than on a Web site devoted to children.
"LeBron lived up to the hype and he was the most-hyped athlete in the history of sports," said CNBC sports business analyst Darren Rovell.
"He has the most personality of about anyone in sports and he has a 'wow' play every night and it's all over the highlight shows. But his marketing is still stalling when his shoes and stuff should be flying out the doors. So you have to ask yourself why."
The answer may be the lack of that coveted championship, which seems to truly endear athletes to fans. It seems even more accurate when looking at the surges in popularity enjoyed by Dwyane Wade and Garnett after they each won rings.
Bryant, who has three championships and last year won his first MVP Award, is currently the most popular player internationally, especially for the exploding basketball audience in coveted China.
"Winning a championship is very important," LRMR's Carter said in an interview last week. "LeBron wants to win one because it is the pinnacle of any career, not just to increase his profile or for marketing reasons."
It has been estimated by some financial publications that James earns around $25 million per year in endorsements, which ranks him first among active basketball players. Only a few athletes, such as Michael Jordan, Tiger Woods and Phil Mickelson, currently earn more per year.
So by no means is James struggling, but without the sort of championships on his resume that Jordan and Woods possess, he may never be able to reach or surpass their level. That may be a key issue when James looks to extend his Nike contract, which expires in two years.
"Jordan put Nike Basketball on the map, there was no Nike Golf before Tiger Woods; their success made those brands," said Brian Berger, a public relations consultant and host of the nationally-syndicated Sports Business Radio. "Championships are what resonate with the international consumer."
They resonate with James, too. There has never been a question as to James' dedication to his performance on the court, though there has likely never been a star so focused on developing his brand at such a young age. Which is why James feels urgency to deliver, which would give him the success he wants across all platforms.
"I'm a winner and I've always been a winner," James said. "Bringing a championship to Cleveland has always been my highest goal, if you can reach that then everything else will take care of itself."
