How brands can capitalize on the Olympics
Beginning in late July, worldwide attention will turn to Paris, France, for the 2024 Summer Olympic Games. The beloved yet oft-criticized sports institution is a global showcase of athleticism and human capability, as well as a media and advertising behemoth.
NBCUniversal has already booked more than $1 billion in advertising revenue for the Games and anticipates that it will break its record for ad sales set three years ago during Tokyo, according to The Hollywood Reporter.
While TV viewership of the Olympics has declined in the United States since 2016, it’s still hard to ignore the tens of millions of viewers and the broader cultural conversations that are generated by the competitions.
Marketing and PR managers are constantly looking for tentpole moments to latch their brand onto broader events or trends, and the Olympics are no different. The weeks-long event provides numerous opportunities for brands, marketing teams, and PR agencies, whether you’ve signed a contract with the IOC or not.
From crisis comms to public relations and athlete sponsorship, below are our top considerations for brands looking to capitalize on the upcoming Paris Games.
What to know about Rule 40
Rule 40 is a section of the Olympic Charter concerned with preserving the unique competitive environment of the games, as well as the value brought by the IOC’s marketing efforts and the IOC’s official marketing partners.
Put simply, brands must obtain permission to conduct marketing about the competitions or athletes, and as a part of the rules and permissions, many marketing activities are restricted. For instance, non-partner brands (brands who are not officially contracted sponsors of the Olympics or Team USA) can not use the intellectual property of the games such as photos, videos, and the Olympic rings logo. It’s also forbidden to use terms like Olympic, Olympics, or Paris 2024.
So what can brands do?
Brands are permitted to say things like ‘X product is made for champions’ or ‘made for greatness.’ These are generic slogans that are on theme but do not mention the Olympics by name. Brands can also mention that their athlete is an Olympian, but the campaign should not be centered on that fact.
Brands can also make congratulatory posts on social media, such as “Congrats X athlete on your performance.’ However, ‘congratulations X athlete on your Olympic gold medal,’ infringes on Rule 40 and is not allowed.
Learn more about Rule 40 in this guide from Team USA.
Looking to get around these restrictions? The only way is to pony up hundreds of thousands of dollars to become an official partner. However, Verde Brand Communications has put on our non-IP infringing thinking caps for how brands can meet this metallic moment in sports.
PR Strategy: be on topic
As you know, public relations is all about meeting the moment and being on-trend. During the Olympics, this means discussing themes such as achievement and greatness, as well as underdog stories or other topics in the news.
One topic that will be relevant this year is the growth of women’s sports. Beyond current discussions of star athletes and teams, new women will surge to the top of mind for Olympic fans around the world.
This is your brand's time to shine. Highlight how your brand supports women’s athletes and women’s sports fans. Note that this strategy does not have to involve even mentioning the Olympics. The audience will understand the timing.
PR Strategy: own the fractured media market
NBC is the official broadcaster for the games in the United States. They will be inundated with Olympic content and Olympic PR pitches along with the rest of the mainstream press. The mainstream sports media environment is increasingly fractured. For instance, the New York Times has shuttered its traditional sports desk, instead relying on its The Athletic brand for sports journalism. This has shifted what articles are produced and who produces them.
However, brands would be remiss to only focus their PR outreach on large, well-known outlets. As Verde has always advised, PR is about much more than newspapers and magazines. This year, TikTokers, podcasters, and YouTubers will produce thousands of hours of Olympic and sports-related content. Reach out to them as well as emerging print and online titles. A multi-channel PR strategy is the only way to compete and get your brand noticed in today’s media landscape.
Influencer marketing: increased athlete-to-fan content
The public has always been interested in the lives of pro athletes, and the evolution of social media has made it easier for fans to peer into the lives of their favorite athletes. All athletes are now influencers, and during the Olympics, these athletes-turned-influencers will be posting more behind-the-scenes content about the competitions, training, and life in the Olympic village than ever before.
This intimate first-hand access is valuable for brands, which is the whole premise behind influencer marketing programs. An in-depth, long-term sponsorship of an athlete generates brand association and value. This value carries over even when the post isn’t specifically about your brand. Don’t have an influencer program? It’s never too early to get started in preparation for the next Winter and Summer games.
Danger of sportswashing
Finally, it’s important to get involved with sports, athletes, and the Olympics for the right reasons. Sportswashing is a term referring to brands who launder their reputation by sponsoring sporting events or athletes. For example, governments with histories of human rights abuses and fossil fuel companies have been accused of sponsoring sports events and teams to distract from their unsavory reputation.
Bombproof talking points and a crisis PR plan are essential at all times but especially so during times of greater prominence such as during the Olympics. In addition, brands should make sure they are talking about trending topics not to make themselves look good but because they legitimately believe in them. For instance, if you are going to talk about women’s sports, do so for the long term, not just when it’s grabbing headlines.
Looking to improve on your PR and marketing plan this summer? Contact Verde to explore a solution.