Now more than ever, with London 2012 less than two years away, Olympic partners are being asked to look at the return on objectives to account for the £Millions spent on these sponsorships. How do TOP, 1 and 2 tier partners measure success on a stage bursting with mega-brands vying for market coverage?
Each partner will have a list of objectives to achieve; the question is how can these be realized?
The answer lies in the ability to strategically and clearly communicate their brand identity, products and services via impactful, engaging and most importantly innovative platforms of activity.
In our world that means Events.
It is in the heat of the moment; that inspirational activity; the WOW factor that moves people and cements powerful consumer relationships with brands.
Does that mean, ‘…chuck some more money in the pot’? I don’t think so.
Increasing budget to a poor concept is not going to save it; arguably it will only highlight its weaknesses further. The activation concept must be spot on, relative to its target audience.
The Olympics are inherently an assault on the senses; light, sound and motion play the biggest hands with brands attempting to out-do each other by overindulging our faculties.
What Olympic partners must recognize is that consumers are a savvy bunch that are of course looking to be entertained, but that each individual is not just another number; consumers want to feel like an activity was made especially for them.
Experienced event and sponsorship specialists need then to work alongside brands to conceptualise and produce cost-effective programs of activity around that target market.
Once the concept is established, it is utilizing a partners exclusive relationship with the Olympic movement, as the most recognisable symbol of human excellence, in creating sustainable brand relationships that will last longer than the hallowed 17 days of the London Olympic Games.
If the evaluation and activation concept isn’t on target, then there will be questions asked.
But get it right at the concept stage and follow through with engaging, targeted events, the Olympic partners will have big ticks in the box marked ‘Objectives’ and therefore achieved return on investment
SM