Generally with the Olympics we see some of the biggest names in marketing making huge appearances throughout the games. Brands like McDonald's and Coca Cola can be seen several times a minute and thinking of the Olympics tied to these names is always synonymous.
However, the Olympics are a very long event with ample time for businesses to get a chance to strut their stuff on a this global marketing stage. However, smaller brands can't go at this all willy-nilly. To be impactful they need a plan. Having smaller budgets than the big kahuna's this is ever more important on this grand stage.
Essentially it comes down to a few main guidelines to make an impact during the games. Speak the language, provide incentives, get social, curate unique experiences, and host a watch party - in the grand scheme of things all these may seem very insignificant and a waste of time, but for a company trying to make a name for themselves this could mean the difference between sinking and swimming.
The question here is, how many people can this type of mentality truly impact? And taking that one step further, is it in their best interest and worth the pretty penny these companies are sacrificing to get their chance in the limelight amongst the heavy weights of marketing.
On a personal note, do you know any techniques not mentioned that could be effective in marketing during the Olympics for the smaller companies of the world? If so, do explain.
- Tristan Crimmins
I don't think it is worth for these companies to go for the big stage yet. They are better off building their way up until they have enough capital to do so. If they wanna start being branded with sports teams, they should start with players and smaller clubs and build their revenue that way. Eventually if it all works out they can find themselves competing for the big events and hopefully have large returns on their investment.
ReplyDeleteI unfortunately agree that yes, in almost all cases it comes down to who has enough money to make the appearance. But, several times smaller companies hit a plateau that they cannot overcome in their current markets because of the simple issue to not reach a deeper consumer market. If they go with starting small with not ideal clubs and players they could end up simply not making their money's worth because they are so restricted. In total, I know its a gamble but desperate times call for desperate measures when a company has hit a stand still.
ReplyDelete- Tristan Crimmins
What if they sent a couple of representatives for the company out to the olympics to try and get some brand recognition? I don't think that would cost them too much, and it can only help them.
ReplyDeleteI also agree that maybe these smaller companies should wait before entering into such a large market. I think when compared to these larger companies, they will have to pay a lot more to be in this same market. I think building their way up is the best option. - sydney
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