What can marketers learn from the Olympics?
February 27, 2010 by Mary Ellen · Leave a Comment
As Vancouver 2010 draws to a close, here are seven lessons for marketers to consider:
The value of practice. Olympic athletes train all their lives for a moment in the spotlight. They practice daily, drilling the basics of execution. In contrast, many in marketing expect to win instantly, sometimes never even repeating a campaign, let alone practicing it.
The importance of the game. Regardless of adversities, disappointments, or less-than-favorable conditions, the game goes on. Sports performance is not a given: favorites fail, miracles happen, unusual circumstances change outcomes. Yet, in marketing, performance is expected and many times the marketer is experimenting rather than executing a plan.
The advantage of focus. Rather than competing in every sport, athletes specialize. The more narrow the focus, the greater the chance of success. Many marketers feel they can do everything, thus hampering themselves with experimentation, and a lack of consistency and planning.
The lesson of competition. Consider Evan Lysacek of Team USA who won gold in men’s skating. Russia’s Yevgeny Plushenko sputtered, moaned and displayed every sign of a sore loser. Lysacek continued to take the high ground, saying favorable things about his competitor even when goaded to do otherwise by news commentators. As a marketer, how do you react to the competition?
How competitive pressures change performance. Some competitors do well under pressure. Snowboarder Shaun White bested his own performance to win gold in the men’s halfpipe finals just because. Men’s aeriel skier, Jeret Speedy Peterson performed the difficult hurricane trick to even though it did not earn him a higher score. Dozens of other performers in similar situations had disappointing results.
How crowd favoritism affects perfection. Curling or Nordic skiing doesn’t generate the excitement or public awareness as hockey or figure skating. Yet, these sports have a place as part of the Olympic whole. Similarly, the behind-the-scenes efforts of a customer follow-up plan may not draw raucous approval in the boardroom, while a series of Tweets could do that. The moral? Judge your marketing on its true worth, not its general popularity.
The advantage of support. Look at any event and see the coach, the parent, the spouse, the supporters behind the athlete. In the Olympics, as in marketing, your success is determined by those who surround you. From coaches with the wisdom of their own wins to family who believe in you, support makes a significant contribution to success. To market your business effectively, find your support.
What “Olympic moment” will you put into your marketing?
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