Just as the Olympic athletes prepare for their performances at the Beijing Olympics, advertisers and sponsors are also nervously anticipating how they will perform with billions of media viewers tuning in.
In a Harvard Business Publishing blog, HBS professor emeritus Stephen Greyser outlines what he calls “the branded Olympics” and what is at stake for companies that pay handsomely to hitch their marketing wagon to the sporting event.
At the highest rung are a dozen corporate members of the Olympic Partner Program including Coca-Cola that “each pay an estimated $70+ million for the four-year exclusive rights in their category to be a global sponsor and use the rings,” writes Greyser. “They spend many millions more to implement (”activate”) their sponsorship via merchandising and other promotional means.”
Will sponsors and other advertisers get their money’s worth? Let the Games begin!
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