Key Event #1: Summer Olympics 2024
Beginning next month, there is tons going on for the remainder of 2024. From the Summer Olympics; to the upcoming presidential election; followed by a shortened holiday season, 2024 is keeping marketers on their toes.
This is the first of a three-part series highlighting how marketers can prepare for these three big events.
First up: Summer Olympics. The 2024 Summer Olympic Games begin in Paris on July 26 and will last through August 11. The Tokyo Games set a record for NBC’s US TV sales: $2.25B, which was up 20% from the Rio de Janeiro Games in 2016 ($1.5B in spend, for reference). With more devices available than ever before, this year’s Paris Games will take over every screen possible on every platform – that means Connected TV (CTV), cable, websites, apps, games, and social media.
So what?
With the Olympics taking over so many devices, we don’t recommend trying to compete. Based on past Olympic events, consumers will not spend much in these two weeks (July 26-August 11). However, we have good news! Spending will be up the two weeks prior (June 22-July 6) (Psst! Just in time to move the needle for July 4th sales and promotions) and resume the week after the Olympics are completed.
Our Recommendation:
Seize the opportunity presented by the captive audience during the Olympics by maintaining consistent messaging before and after the games. Post-Olympics, leverage the potential for increased spending as consumers re-engage with the market. Here are some specific digital tactics to explore:
- – Programmatic Display & CTV
- – Paid Social Media
- – Influencers
- – Content marketing
- – Native Advertising
- – Partnerships
- – Experiential Marketing
Most importantly, this doesn’t just go for digital media. Get your catalog in-home by June 21; send your Direct Mail piece by June 24. Then, get your next pieces in the mail by August 12, tying these drops to your digital marketing efforts in Search and Social Media.
Stay tuned for our recommendations for marketing during the Presidential Election! We’re here to help drive your omnichannel strategy forward.
Sources: Epsilon, eMarketer, LinkedIn