Every four years, the Summer Olympics turn into more than just the world's biggest sporting competition. Now that the Rio Olympics are well behind us, there's been time to analyze and determine what we can learn from the marketing of this event. The Olympics present an invaluable opportunity to study how both large and small brands seek to take advantage of audience attention, teaching us valuable lessons about their strategies as a result.
That's no different this year, as the Olympics take place in Rio. Here are 3 lessons any brand can learn from the event to improve your social media marketing.
1) Getting The Public's Attention
More than anything else, the Rio Olympics provide a perfect case study into a phenomenon and opportunity that occurs during any major event: marketers are trying to tap into conversation-garnering events. Millions of people around the globe are discussing key moments and sharing images on Twitter, and simply joining in the hashtags and keywords can lead to major brand exposure.
For example, the scowl of star swimmer Michael Phelps before a race against a key competitor led to an instant meme called #PhelpsFace. Within seconds, consumers and marketers alike were joining the hashtag to make jokes and connect the scowl to their brand message.
2) Live Streaming is Here to Stay
No matter where you look, live streams are popping up surrounding the events on a variety of channels. While the International Olympic Committee's strict broadcasting rules prohibit live broadcasting of events beyond its official partners, media publishers and marketers found a way around that restriction by streaming instant opinions, analysis, and other related content through their outlets.
Even athletes are joining in the fun: the above-mentioned Phelps, for example, streamed video on Facebook Live before his last-ever race to talk about his expectations and show the audience around his accommodations. Michael Phelps' Facebook Live video has been seen by more than 4 million Facebook users.
3) Intellectual Property Can Get Dicey
Finally, perhaps the biggest story to come out of the Rio Olympics touches on an aspect that is often misunderstood or undervalued in the social media marketing realm: the importance of intellectual property. Before the games, the IOC instituted Rule 40, designed specifically to prevent anyone who was not an official partner to use the #Rio2016 hashtag on social media, or even mention Rio or Olympics in brand-related tweets.
The decision had obvious negative ramifications. Many marketers ignored the restriction, which led to some temporary bans on social media. Others complained that it was a restriction impossible to follow or enforce given the democratic process of information sharing on Facebook, Twitter, and other networks. Not to mention our coveted right to free speech.
It's easy to understand why the IOC instituted this restriction. Thanks to efforts like both of the above examples, official partners have continuously begun to receive less value for their sponsorship and broadcasting rights. Rule 40 is aimed to protect official partners, and keep the sponsorship money flowing in this and future games.
But is it the right course of action? Our 20-20 hindsight suggests this is not the case. Brands and athletes found ways around mentioning the prohibited words and hashtags, using synonyms or referring to that big competition in South America. Only time will tell if the ban remains in effect.
In the meantime, Rule 40 teaches marketers a valuable lesson about intellectual property: be careful with the content you promote. Other entities may have a stake in it, and while social media makes it easy to get involved in current events, knowing what you are and are not allowed to share or include in your social media marketing posts can be crucial in helping your brand survive.
As is the case very four years, the Rio Olympics have offered a case study in the state of social media marketing that is worth studying. To learn more about promoting your brand on social networks, and learning from others to optimize your strategy, contact us today.
