The Olympic Games Paris 2024 have arrived, bringing with them a two-and-a-half-week festival of sport and a massive stage for many of the world’s biggest brands. Poised to be the most-watched summer games in years, the marketing world is abuzz with anticipation. For brands, the Olympics present a high-stakes marketing opportunity, where success can lead to brand victory and failure can result in brand defeat. Here are some key areas that Olympic marketers should be prepared for in case things go awry.
Prepare for the pull of polarization
In today’s polarized world, even marketing efforts without a clear political stance can be pulled in one direction or another. Ads may be perceived as too woke for some or too traditional for others, leading to potential backlash. Olympic marketers must be prepared for this and should conduct scenario planning to anticipate extreme interpretations of their marketing efforts. By thinking through potential scenarios, brands can be better equipped to respond if their marketing faces polarization.
Navigate known controversies
The Olympic Games are not without their controversies, and the Paris 2024 games are no exception. From geopolitical tensions to concerns about pollution in the Seine, brands must navigate these issues with finesse. Smart brands will pay close attention to both what’s happening in the wider world and what’s happening on the field of play. Given the global nature of the games and the fluidity of potential controversies, brands must remain vigilant throughout the Games.
Play sponsorship games
The Olympic Games Paris 2024 organizing committee has hit its sponsorship revenue target, with the Olympic Partner Programme (TOP) being the primary sponsorship vehicle for the games. Official sponsors have made significant investments, and there are strict guidelines in place to ensure they get the value they’ve paid for. Rule 40 limits what individual athletes and their non-Olympic sponsors can do during the games, leading to potential challenges for brands looking to tap into the Olympic buzz. Expect to see athletes and their sponsors pushing the envelope on Rule 40, as well as various attempts at ambush marketing from non-official sponsors.
Embrace the unexpected
The Olympics are known for their surprises, from inspirational stories of underdog athletes to unexpected events that capture the world’s attention. Brands must be prepared for the unexpected and ready to respond in real-time. With breakdancing making its debut as a „non-traditional“ Olympic sport in Paris, marketers will need to read the moment and show off their best to appeal to their audience. The world will be watching to see which brands take home the gold and which may falter.
In conclusion, the Olympic Games Paris 2024 present a unique opportunity for brands to showcase their marketing prowess on a global stage. By preparing for polarization, navigating controversies, playing the sponsorship game, and embracing the unexpected, brands can position themselves for success during the Games. As the world tunes in to watch the athletes compete for gold, brands will be competing for their own victory in the marketing arena.