Greetings, reader! Welcome to #MarketSpotlights, an interesting series brought to you by Team BUSFAM, an expert social media marketing agency. Stay with us as we share our perspectives on the latest marketing of brands. Today we will discuss the appeal of sports stars as the first choice of various brand endorsements after the Olympic triumph in 2024.
Brands leveraging the influence and popularity of celebrities to endorse their products is not a new phenomenon. For decades, various companies have invested their marketing budget into celebrities, athletes and influencers to attract and engage with the audience.
After the Paris Olympics 2024, the trend of partnering with athletes got a significant boost. The Olympic stars have become the spotlight, making them the ideal choice for dozens of brands to partner with. With their new-found fame and success, top companies across a wide range of categories like health, lifestyle, banking, education and nutrition are trying to cash in on their post-Olympic buzz to strengthen their brand image and reach a wider audience.
The Olympics is a global platform for athletes to showcase their skills and talents. The 2024 Paris Olympics was also no exception. Manu Bhaker’s remarkable achievement became the talk of the town. The 22-year-old became the first Indian to win a double medal in a single tournament.
Following her success, several brands were eager to associate with her. She became the most sought-after sports personality as the face of many endorsement deals. More than 40 brands wanted to onboard her and started knocking on the doors of the agency that manages Bhaker. She even signed a 15 crore endorsement deal for one year with Coca-Cola for its Thumbs Up product.
Despite not winning a medal in the Olympics, Vinesh Phogat became a prominent name for advertisers. Her resilience and advocacy for an important cause in the global platform attracted nearly 15 brands to align with her as an embodiment of perseverance. Before the start of the Olympics, she endorsed the sports apparel brand Nike. Now she is associated with the mobile brand Iqoo, sports nutrition brand MuscleBlaze and Dairy brand Country Delight.
Another name that stands out for stellar performance is Neeraj Chopra, the 26-year-old Javelin hero. Though he got a silver medal instead of gold, that has not affected his endorsement portfolio. He promotes Swiss luxury watchmaker Omega, sportswear company Under Armour, Gillette, Samsung and Visa. He is yet to associate with more than 24 brands by the end of this year.
Names like PV Sindhu and Mirabai Chanu have also successfully built their reputation in the Paris Olympics 2024. They both have ensured their positions as brand ambassadors of wellness and lifestyle products.
The motive of brands behind association with sports personalities soon after their success is to market their ventures and establish a brand that complements their careers. Athletes are perceived as an embodiment of dedication, hard work and discipline. The advertisers tap into these images of the sports stars and aim to connect emotionally with the audience to propel their brands to new heights.
However, when using celebrities as a part of the marketing strategy, don't just expect your target audience to prefer your brand over others just because their role models are there. While the products endorsed by them definitely increase the brand’s visibility, there are also other factors that guarantee success. For instance, the advertisement must be authentic and engaging and consumers must resonate with the brand’s message.
Besides a marketing strategy, compelling athlete branding is also crucial. Individuals do praise their favourite stars for their solid performance on the field. However, direct interaction with the fans through podcasts, social media and YouTube videos increases the athletics’ marketability.
In addition to using them in advertisements, partnering with athletes is a great way to connect with individuals who value social responsibilities. Sports persons are considered icons; their opinions greatly influence public opinion. So, brands can sign them to speak for societal causes which will increase the credibility of the brand.
The Paris Olympics 2024 has no doubt set a high bar for collaboration with medalists for audience engagement. In the future, there is no denying the fact that we can expect more such marketing strategies from brands.