Advertising during the Olympics is a completely different creature from advertising during the rest of the year. Not only is the demographic different, but the style of ads has its own unique flavor. The big question on everyone’s mind now is: is it worth the investment to advertise during the 2016 Rio Olympics?
Olympic Advertising is Booming
Looking at the numbers from NBC and its cable partners, it’s clear that many people feel the answer to that question is a powerful yes. NBC anticipates over $1 billion in advertising sales for the 2016 Olympics in Rio. The 2012 Summer Olympics in London had a staggering $1.3 billion spent, which was a new record over the $850 million for the 2008 Summer Olympics in Beijing.
Why is everyone so excited to be a part of Olympic Advertising?
In any other year, viewership would already be huge (as in “exceeding 20 million viewers” huge), which is enough of a reason to feel tempted to advertise. This year, the Olympics offers an additional benefit for American business owners: there’s only a one-hour time difference between New York and Rio. This means that many more Americans will be able to watch their favorite events live, during accessible hours. Additionally, the Summer Olympics airs in August, which is a time when traditional network TV is full of repeat programming. This means even less compelling competition for the channel.
In the last few years, audience levels for live events such as the Olympics or sports events have skyrocketed for another reason. Viewers want to be included in the live conversations on social media and keep up with the buzz in their workplaces.
The increased live viewership has prompted advertisers to open their wallets wider for media buying, where they can be guaranteed that a larger group of people will see their ads. This is a stark contrast to previous years, where more Americans were watching recordings that allowed them to fast-forward through commercials. Many companies are starting to buy up media time, knowing what they stand to gain.
How Can I Advertise During the Olympics on a Budget?
For any client who can afford to advertise during the Olympics, we say go for it. It doesn’t mean you have to break the bank in the quest to purchase your local TV station’s Gold, Silver, or Bronze package; there are many options available for participating. In many cases, you can even buy airtime during specific events. You can make your brand seen during the Opening Ceremony in prime time or consider the late fringe programming, where the day’s events are recapped. With a larger budget, you have even more opportunities to reach a riveted audience.
Advantages of Advertising During the Olympics
- With the excitement generated over the competitions, there’s very little interest being generated with the other networks. This means that your ads are seen by larger amounts of people, without other programs vying for attention while your ads are running.
- The Olympics offer a fantastic opportunity for creating brand awareness. Appearing during the Olympics can often help you build a relationship with your audience that wouldn’t be available at other times. Their levels of attention, and this year, availability, make this an ideal time to invest in ads.
- The miniscule 1-hour time difference means that there will be even more Americans watching live than recent years.
- Live viewing means no fast forwarding on digital recording systems or mobile devices, giving you more uninterrupted time with millions of viewers.
- Reach viewers across a broad variety of platforms. Instead of just reaching cable-using viewers, you have the opportunity to be seen by users across a wide variety of devices, broadening your exposure to new markets.
- Reach viewers across multiple generations. Live sports is one of the few remaining programs that can attract audiences from all generations at the same time.
How Can My Marketing Agency Help Me Make the Most of Advertising During the Olympics?
It’s not just about when you advertise, it’s about how you advertise. People watch the Olympics to marvel at the feats that these dedicated and talented human beings are able to achieve. Successful ads are tailored to enhance that experience through inspirational storytelling, feel-good moments, and invitations for inclusion through your call to actions.
And don’t forget the vital role of social media advertising. The Olympics always generates considerable talk based on the excitement of surprise victories, inspiring medalist performances, and the speculation around how each country places.
A good marketing agency knows that there is a lot to say about the games on any given day during the season, and that’s a fact that can be used to your benefit! At Blue Onion, we stay up-to-date on the latest stories and trends, to help you make the most of this opportunity to engage consumers.
Call today to speak to one of our media experts and learn more about how you can make advertising during the 2016 Olympics work for you! (303) 232-1100