There are dozens of competitions all year that gear up for the Olympics, some of which businesses can sponsor for amounts as low as five figures.
THE OLYMPIC GAMES OFFER ONE OF THE MOST EFFECTIVE MARKETING PLATFORMS IN THE WORLD, reaching billions of people in more than 200 countries.
In a few weeks, hundreds of companies will be giving the athletes everything from footwear to power bars in hopes of winning the gold—in business. But small business owners often feel like they’ve got to have green before even thinking of gold,according to the CBS Interactive Business Network Resource Library.
Not so, according to Roaring Spring Bottling Co. of Chambersburg, Pennsylvania.
At the height of bottled water’s popularity, Evian spent US$3 million on the 1992 Olympics in Barcelona. Roaring Spring Bottling Co. could only dream of that budget. That didn’t mean it couldn’t catch the Olympic spirit and win.
For an investment of about $10,000, Roaring Spring sponsored a bicycling event. It hung banners and distributed free samples along the bike trails. Roaring Spring even sponsored hometown favorite, Darren Baker, for exposure and community support.
“Our strategy helped us reach our customers. And it made us feel good about being part of America’s Olympic effort,” says Scott Hoover, Roaring Spring general manager.
This summer in London, total sponsorships are expected to exceed $5 billion more than double the amount spent during the 2008 Games. And, a lot of that is coming from small businesses that have learned the five Ps: Properly promoted patriotism produces profits.
What many companies don’t know: There are dozens of competitions all year that gear up for the Olympics, some of which businesses can sponsor for amounts as low as five figures. White-water canoeing and kayaking have become popular with major TV-viewing audiences. Power Food Inc., the Berkeley, Calif., manufacturer of PowerBars, handed out thousands of nutritional products, strung up advertising banners and gave out T-shirts for paddlers to wear during a recent competition.
“I saw canoe-kayak as a way to reach the market we’re trying to attract,” says Laurel Lynch, Power Food promotions executive. “These are high-endurance athletes who require a lot of fuel for training. And what better way to show that the bars are waterproof?”
Lynch says Power Food hopes that canoeists and kayakers “will trend-set from Olympic athletes down to outdoor recreationalists.”
If done right, Olympic sponsorships can be an effective way to impress customers and clients, says Jim Crimmins, director of strategic planning and research for the DDB Needham Worldwide advertising agency.
“Many Americans feel it’s their patriotic duty to buy from Olympic sponsors. More than 61 percent of the respondents to a poll said they felt that buying the products of Olympic sponsors enabled them to help the Olympic effort.”
What does this mean to you and your company? It’s an exciting opportunity to better employee morale and generate increased sales. Roaring Springs Bottling Co. received huge business recognition from its efforts. Now you have that chance. The Summer Olympics are fast approaching. Contact your local Olympic supporters and sponsor an event, an athlete or a charity.
Let the games begin! Properly promoted patriotism produces profits. One+
One+ June 2012,