Pyeongchang the platform for Asian brands to shine
THE symbiotic relationship between brands and the Olympics represents a huge opportunity for Asian brands to compete on the world stage.
Brand partnerships with the Olympics are now not only big business, they are also good business. This is especially true for companies in Asia as China, India and Asean take on stronger global leadership roles economically and politically.
The commercial numbers are undeniable. Over three billion people in 200 countries would have viewed the action in Pyeongchang 2018 by the time the two-week long sports extravaganza wraps up on Sunday. It is not surprising then, that commercial partnerships account for more than 40 per cent of Olympic revenues. Over 70 brands have signed on as sponsors for Pyeongchang, including 47 South Korean brands; of the 13 leading Olympic sponsors, five are Asian - Alibaba, Bridgestone, Panasonic, Samsung, and Toyota.
The growth of the "Olympic economy" is most likely due to the perception that - doping scandals aside - it still remains a showcase for humanity at its best, boasting peak physicality, mental toughness, awesome performances, and grace and beauty under pressure.
Asia's timing is impeccable as over the next four years it is set to host a trifecta of Olympic Games between Pyeongchang 2018, Tokyo 2020 and Beijing 2022. This concentration of Olympics mirrors Asia's leadership economically as the fastest growing and most populated region in the world and, as a consequence, Asia's leading influence in the world. The Olympics will become a global showcase for the region. This represents a not-to-be-missed opportunity for Asian brands as the general global momentum swings East.
Beyond the global stage, there is another reason the Olympic forum represents a great opportunity for brands today. In a world that has become geo-protected, digitally distracted and bitcoin obsessed, the Olympics represent a moment when we can all believe in the power of universal goodness uniting us one and all. Over 16 days, we are witness to the personal stories of triumph, defeat, overcoming the odds, utter dedication to one's sport and the spirit of winning and competition. We become immersed in the performances and the personalities.
THE DEEPEST CONNECTIONS
Fundamentally, this is where brands make the deepest connections, through the human stories that they can contribute to, that people cannot help but be a part of. The brands that can connect in a meaningful way with the athletes and fans will benefit the most.
The starting point for any piece of communication today is the smartphone - Apple or Android. Mobile first. Content shareable. Add in the gazillion gigabits of data that marketers have on people's transactions for patterns and insights. Most important, add in people - creative professionals who can sift through the possibilities of technology with the revelations of data. We are not yet at the stage where machines can look into the hearts and minds of individuals to determine what will elicit an emotional response. Instead of artificial intelligence (AI), I call this approach CI - for Creative Intelligence. CI can seamlessly connect the human experience with brands through technology, living fluidly between the online and offline worlds.
One of the more talked-about issues this year has been the International Olympic Council (IOC)'s Rule 40, which protects the rights of participating brands and restricts those that try to piggyback the event by surrounding it either physically, digitally or in the broader ether. This is what is required and is in line with global media and communications practices for large global events such as World Cup and Super Bowl.
This does not mean, however, that brands are banned from participating in the general public sentiment and the goodwill created by the event and the competition itself. Ford did this beautifully in 2016 with its "We are All Fans" Snapchat ad campaign, which both honoured IOC rules and embraced the cultural moment.
Pyeongchang 2018 can be a great Asian moment where the interests and emotions of a good part of the world's people are focused on South Korea. Asian brands and companies need to get involved through the use of CI to drive tech-enabled human connection around what is the most important human event we have now. It is not only a good thing to do, it is the right thing to do.
Me? I am Canadian, so ice runs through my veins and I have been rooting for the strongest team our country has ever fielded. But I will also cheer for the Nigerian women's bobsled team - Africa's first entry to the Winter Olympics.
Dreams might come true.
