Why the Olympics Are a Huge Business Opportunity

Returning every four years, the Olympics are an international sensation - here are some ways you can leverage the platform and branding for you.

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Arriving once every four years, the Olympics are a huge spectacle of sportsmanship and national pride. As an international event with massive impact, it has a wide audience across the globe. As such, businesses in a wide range of industries can leverage the Olympics platform, news cycle, and cultural focuses to boost their brands. 

Here are a few ways to use the Olympics to your advantage and face the challenges that you might come across.

Creative Marketing

With the Olympics spanning a wide range of cultures, nationalities and interests, there are many ways to incorporate ongoing events into a marketing campaign for your business. Consider running promotional campaigns in line with particular sports, or athletes. Though it can be costly to engage athletes as sponsors, you can still engage fans of their sport through online quizzes, prizes and more. This will characterise your brand as one tuned into current events, as well as increase your customer base and engagement. 

Be Directly Involved

Though it can be costly, being a sponsor for the Olympics can boost your brand exponentially. Aside from massively raising your brand awareness, being an active sponsor can boost the net worth of your company, propelling you to the top of the stock market.

Abstract Advertising

Though you’ll need to be careful of trademarks, sports is still a wide-reaching industry, which often centres on health, strength, and lifestyle benefits. Does your business offer nutritious food and beverages, or services to complement a healthy lifestyle? Try building a campaign around it! Connect your brand to the conversation at hand by appealing to your abstract, shared values. This is even easier if your brand contributes directly to the sports industry, by offering items such as activewear, shoes, or exercise equipment. 

Bring Attention to Local Causes

Each time the Olympics roll around, the media turns its attention to the culture and causes of the country which hosts it. If you are a local business in the host country, try drawing attention towards local social causes and advocacy, or local business specialities. This can boost business for particular areas or industries, such as low-income areas, and allows store owners operating in them to grow their businesses. The increased scrutiny brought about by the Olympics can also offer more international business opportunities for local businesses.