Showing posts with label Marketing. Show all posts
Showing posts with label Marketing. Show all posts

Thursday, July 29, 2010

Marketing Lessons From The World Cup

The month long spectacle of the quadrennial Football word cup culminated in South Africa after much fanfare and gaiety last week. The tournament as a whole was a great success thanks to the hosts who took to the event in such a huge manner that the festive atmosphere that prevailed truly reflected the rainbow nation in its true colors. Though there was much to crow about the successful event, the first in the African continent, a lot of things could've been done better. Let's look at the some of the lessons that we can learn from this event from a marketing angle.

Ignore Technology at your own peril: I know that my English friends would still be sulking about Lampard's disallowed goal. Whether that decision would have made a significant impact on the outcome of the match is indeed debatable. I have my doubts as I feel that Germany was a much better side on the day and they thoroughly deserved the win.

Disallowed Goal

But what is beyond debate is the fact that the simple use of technology could've avoided the issue altogether and everyone would have been happy with the final result had it been the case. And the winner would've been pleased that their win did   not get sullied in the controversy.

Marketing Takeaway - Don't get overawed by technology as it's a great enabler.

Don't alter crucial factors close to the event: The tricks that the ball (Jabulani) played in adversely affecting the games as a spectacle as well for players could've been avoided had they not left the choice of balls to be used till the very last moment.

Marketing takeaway - Trust the tried and tested tools when the stakes are high.

Don't go overboard with the scarcity card: Well before the first whistle blew or the sound of Vuvuzela was heard, FIFA had announced that the most of the tickets had been sold. But in hindsight, the claim that 97% of tickets were sold before the tournament began seemed hardly credible as made conspicuous by swathes of empty seats at the stadia. Did they put off the potential buyers by playing the scarcity card excessively? Well, the evidences seem to suggest so.

Marketing takeaway - Be moderate and credible with claims as it may put off prospective customers otherwise.

Know your market: One of the basics of marketing is to know your target audience and the organizers made a basic error in judgement in this aspect. There was a huge drop in the ticket sales over the internet, since majority of the football fans in Africa don't have access to internet and the payment options online. Africa isn't Europe and what worked in the previous world cup obviously didn't work this time as the market has changed.

Marketing takeaway - Choose to go online or offline based on the audience

Greed isn't a virtue: The exorbitant pricing of the packages - travel, accommodation and ticketing aimed to squeeze out the maximum from the ardent faithfuls was met with strong negative response from all around. And instead of making it an affordable proposition for the multitude of fans, the sheer greed on the part of the stage managers fended them off big time.

I'm sure that the cricket fans would nod their heads in agreement on how the West Indies bungled on the same in the world cup that they hosted in 2007 but did well to quickly learn from that mistake in time for World T20 two years later. Hope that Brazil can take a leaf out of their books in time for 2014.

Marketing takeaway - When you're working with a massive market, the prices ought to be competitive

World Cup Party

But for all the marketing slip ups and hiccups, what cannot be missed was the joi de vivre that was on display in ample measure. Let's capture that spirit of joy and happiness in our marketing efforts as well.

Waka Waka folks..!!

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Wednesday, May 5, 2010

Sports Marketing - Are You Getting ROI For Your Marketing Dollar?


Image : http://www.flickr.com


There is a number that is indelibly linked to the multi- billion dollar industry that is sports marketing today. The year 1984 remains the landmark year for the then still nascent industry. The commercial success of the Summer Olympics in Los Angeles was coupled with acceptance in the corporate boardrooms that sports and business do mix. A very ubiquitous soft drink brand spent US$30 million on endorsements throughout the games, a figure which was exorbitant at the time.

Most significantly, companies who got involved experienced increased brand awareness regardless of their team's performance. A HSBC-sponsored Jaguar Formula 1 Racing team was mediocre on the race track, but still played a major role in building the bank's global brand.

A successful sports marketing campaign needs the following to be considered:
1. Target demographic
2. Geography of market
3. Type of business
4. Additional goals (client entertainment, prestige)

As far as possible, the campaign must be structured with clearly defined end goals. Using motorsports as an example, it is possible to get a race-by-race sponsorship deal which is more cost effective and relevant to the specific markets you intend to sell to. Similarly, backing a more accommodating new racing team rather than a big name if you want to impress customers. If you do fancy your company logo on a sports team or sports personality, devise a complete marketing plan to make the most of the investment. Consider level of exposure, target markets, activation plans and, of course, take your time to shop around. Sports marketing is still a very viable industry and the best thing about it now is that prices are dropping as more opportunities arise.

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