Making the most of Olympic sponsorship rights that brands have already paid for is one thing, but spending as planned to draw attention to them in the midst of economic turmoil is another. In today’s “SBJ Unpacks – Weathering COVID-19 Podcast,” Olympics consultant Terrence Burns acknowledges to our Bill King that some brands will have to re-think their level of spending around next year’s rescheduled Games. But he also anticipates that an unprecedented opportunity may emerge. Below are some key takeaways from the interview.
On how sponsorship levels will be impacted by economic shifts due to coronavirus:
Burns: You’re not going to get any return on that sponsorship if you don’t activate it. Every sponsor knows that. Will the economy effect the activation budgets? Yes, it has to. Will they be depressed? Likely, in some categories. But you can’t underestimate the power of the Olympics next year, (if) we’re through this or it’s been blunted or it’s livable. The power of the Olympic Games to celebrate ... humanity’s triumph over this thing adds a whole other level of marketing and messaging and hope and optimism to the already excellent Olympic message.
On how synergy between conquering coronavirus and the Olympics' unifying message creates a unique marketing opportunity:
Burns: It could be the biggest opportunity in living memory to celebrate our collective humanity in a new way. I think those types of intangible benefits and values are real. Smart sponsors will understand that and I think you’re going to see some very exciting and epic messaging.
On Tokyo’s ability to pick up moving pieces that go into hosting an Olympics and relocate them to next year:
Burns: Tokyo was ready to go in three months time. They were in operational mode. What that means is they’ve done all the hard work, all the heavy lifting and planning. It’s really, and I don’t mean to make light of it, but they just have to shift it forward a year. The logistical issues for the hotels and the venues are serious and significant, but the vast majority of the plan itself is baked and ready to go.
On how top partners are reacting to the Olympics’ delay:
Burns: The top partners are relieved. ... They’re probably A: relieved to have this decision made and B: it takes away the uncertainty of the next few months because truthfully, none of us know what the world will be like in July.
