What the Paris Olympics can teach us about successful sponsorships
I have loved any opportunity to watch the Paris Olympics. Having spent a few days in stunning Paris last month and seen some of the stadiums, travelled down the Seine and climbed up the Eiffel Tower with my family, I feel an even stronger connection. I honestly wish I was there!
I have been watching closely the brands that are sponsors or suppliers of the Olympics both locally and globally. It has also been interesting to see all the comments around their involvement.
Key Reasons to Sponsor Major Events:
Enhanced Brand Visibility: Gain extensive media exposure across various platforms, increasing brand recognition and reach.
Networking Opportunities: Host customer events, both locally and remotely, fostering valuable business relationships and partnerships.
Brand Association: Align your brand with the values and prestige of the event, enhancing your company's reputation and credibility.
Local Audience Engagement: Create targeted campaigns that resonate with the Australian audience, as demonstrated by brands such as Woolworths and Four'N Twenty's Olympic campaigns.
Employee Engagement: Boost employee morale and pride through the company's involvement in high-profile events.
Exclusive Marketing Rights: Secure unique promotional opportunities and access to specific marketing channels associated with the event.
Data and Insights: Gain valuable consumer insights and data through campaign participation and interactions.
Corporate Social Responsibility: Demonstrate your company's commitment to supporting important cultural or sporting events.
Long-term Brand Loyalty: Build lasting connections with consumers by associating your brand with memorable experiences.
It's important for your brand to always consider strategic ways to align with naming rights holders to gain visibility.
Below are some smart approaches that have boosted brand presence:
Uniform Suppliers: Iconic Australian brands Sportscraft and Volley provided Australian athletes uniforms for the Paris 2024 Olympic Team Opening Ceremony. This partnership showcased Australian design and craftsmanship on a global stage. For instance, the live broadcast of the Opening Ceremony reached a national total TV audience of 2.138 million viewers across Channel 9, 9Gem, and 9Now, significantly amplifying the reach and visibility of both brands.
Social Impact Initiatives: The Australian Olympic Committee (AOC), in partnership with The Toyota Foundation, funded the inaugural Australian Olympic Indigenous Coaching Scholarship (AOICS) pilot for Indigenous coaches in basketball. This initiative demonstrates a commitment to diversity and inclusion in sports.
Brand Partnerships: Local brands such as Woolworths and Four'N Twenty pies have created smart multi-channel campaigns that align with their existing creative while also forging emotional connections with audiences. These partnerships leverage the excitement and national pride associated with the Olympics.
Broadcasting Rights: Nine (Channel 9) has secured the rights to broadcast every moment and medal of the Paris 2024 Olympic Games live and free in Australia, with streaming available on 9Now. This comprehensive coverage has provided significant exposure for the network and its associated brands.
I have had the privilege in my previous companies to have worked on some really meaningful and smart partnerships that have been of great benefit to all brands. These partnerships were thought through and made sense for both companies. When large investments are made, it is critical that there is shared value and return on investment (ROI) for your brand.
RTR Sports Marketing, a UK-based agency, emphasises that well-executed sponsorships can forge powerful emotional connections. The Olympics evoke intense emotions and national pride. Brands sponsoring the Games can leverage these sentiments, establishing a deep emotional bond with consumers that often translates into long-term loyalty.
Next steps if you wish to look at partnering with a naming rights holder:
As shared in my previous blog.
Be clear on your values, mission and areas of social impact focus.
Create a shortlist of potential partners whose missions and values align with your companies.
Have a conversation with these partners to see if there is a genuine fit.
Collaboratively design partnership programs that will create shared value while delivering business benefits (ROI) to your company.
Need help with looking at who to partner with - book a call here.