365(ish) days and counting

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Picture the scene readers: London, England 365(ish) days from now, huge crowds gather in the capital all vying for their chance to see the world’s elite athletes and sports people compete in the ‘Games of the XXX Summer Olympiad’ (some may even have got tickets). Many have travelled thousands of miles and have paid large sums of money to be there. People from all walks of life and cultures, all communicating in different languages, have come together in one big melting pot that will be East London (and other selected venues across the UK), all with one shared common interest - to be part of the Olympic experience. Marketers and Entrepreneurs of Great Britain, this is your chance to make some money from that experience.

Although some commentators have played down the positives (some have even suggested it may have a negative impact on tourism) it is probable that during the games we in the UK will see an influx of non-English speaking visitors descend on these shores, and although the bulk of the activities will be focused around London and the South East, the rest of the UK should also see a growth in its tourist numbers (some maybe trying to avoid the tourist hot-spots in London).

If you think about it, common sense states we should see a positive correlation between increased tourist numbers and revenue.

If we take the numbers from last Olympic games as an estimate, Beijing had around 600,000 foreign visitors during the games (coupled with over 2.5 million Chinese domestic tourists), and it contributed an additional £8.5 billion to Beijing’s GDP.

Research by Lloyds bank for the 2012 games has indicated that the Olympics could increase the UK economy by an additional £21 billion. Their report shows that the UK as a whole stands to benefit from increased tourism brought about by the Olympics. It estimates that the economy in the Midlands will benefit by an additional £3.2 billion and the North West by £3.2 billion.

So, next year we should see an increase in domestic and foreign tourism, as well as an increase in spending, which can only be good news for the British economy.

From a marketers point of view, legislation is likely to restrict directly using the Olympics as a springboard for marketing efforts. Legal stipulations brought about by the emergence of ambush marketing over the past few years means that unless a company is an official sponsor of the games they will be unable to make a direct reference to the Olympics in their marketing (never forget the case of the butcher who was reprimanded by the IOC for arranging his sausages in his window in an Olympic ring).

However, this doesn’t prevent companies from making the most of the increased marketing opportunity presented by the games. Entrepreneurial marketers should see the games as a real opportunity to maximise on a captive market, brought together by a common interest (and perhaps more importantly) common requirements.

We’ve put our heads together to come up with 4 keys areas we think companies can focus on, which we feel will help them make the most of the London games and capitalise on the in-country “foreign” market.

The Languages of the 2012 Olympics.

1. Undertake research to understand where this potential market will be coming from and what needs they will have. This could be a very large market who, drawn by the common interest in the games, will be in need of a variety of products and services. The key will be in anticipating where this market will be (not just London but at other venues across the UK) and where they will be coming from (i.e., what languages they will be speaking).

2. Be able to communicate with this potential market. The games will draw visitors from across the globe, all speaking and communicating in different languages. To capitalise on this market you will need to be able to get your message across. Marketing material, such as brochures, leaflets and websites can all be used to communicate your message and if these can be presented in multiple languages, then the more so the better. Ultimately, a group of tourists is more likely to take up an offer from a provider if they can understand what is being presented to them. There will be a lot of competition out there all vying for business so it really can pay to have your message translated by a professional translation agency.

3. Get your business out there. Make sure you are present in their minds when a decision is being made. This could mean paying to get listed on an Olympic-based directory for a specific category in a specific geographical region or distributing literature near an Olympic event.

4. Enjoy the Olympics as a cultural even and get involved. Why not incorporate the ‘cultural’ aspect into your marketing strategy? Invite your customers to a ‘culturally themed’ Olympic event. During the last Rugby World Cup a friend of mine invited his top 10 customers to attend a “cultural” themed football evening where drink and food (all on my friend of course) were selected from the nations partaking in the event. Another friend for the same Rugby campaign gave all of his clients a specific team in the draw and the winning team (client) was treated to a meal out. These don’t have to be grand gestures. The Olympics will be on the minds of many people in the UK so why not maximise on this.

The London Olympics often comes under fire by cynics who knock the games and see it as a waste of time and resources. The fact of the matter is that it’s going happen now so whatever your view you may as well make the most of it and, more than that, try and make the best of it. It has real potential to be something good and a chance for the UK to be a proud host.