Olympics: an opportunity to build awareness (and I am not talking about brands or athletes)
Marcos R Leal
Managing Partner at Kompassium | Enterprise Turnaround | Business Growth | New Business Models
I just came back from Paris. What a beautiful moment for humanity and business. I went there not to watch the games, although I would have loved to stay longer and cheer for some of the athletes and countries I admire. However, I aimed to have two important meetings and chat with others. On my last day, I had the chance to take two people to visit the "houses" during their first Olympic experience.
This opportunity reminded me of my first Olympic experience in London, where I spent most of the time at the GE Experience Center, going back and forth to the games. It was a visible centre in the train station from where most Olympic Park visitors would take the train. It allowed GE to showcase technologies to customers, potential partners, and everyone heading to the Olympic Park.
What are the Olympic Houses to which I am referring?
Olympic country houses are spaces where fans celebrate their country's victories, meet athletes and participate in talks and lectures. Across Paris (many at the La Villette park), individual countries have created spaces for fans to eat, drink, dance, cheer for athletes and celebrate their country's medals during the Olympic Games. Brands also did a great job, such as LV's colossal bag on the Champs Elysees, Samsung and Adidas' stores and Lulumelon showcasing the Canada team apparel. However, some countries still need to understand the strategic role of such investments for their countries and partners.
The Strategic Role of Country Houses
More than 15 million people are expected to visit Paris for the games, and billions will be impacted by the journalists, cameras, and phones that will keep sharing what people saw and experienced for months. From a brand perspective, this means an incredible opportunity to "fish where the fishes are and get some earned media bonus." By "brand," I do not only refer to long-lasting sponsors like Coca-Cola. I also refer to country brands.
While some houses have a precise political positioning, like Ukraine's, which was very interesting to visit, the primary goal of these experiential centres should also be to attract tourists, talent, investors, and partners and build tremendous soft power. I felt terrible for not being able to take my friends to visit some houses without paying a fee, like India's, the Czech Republic's, the Netherlands', Canada's, among others. While you can be there for free when invited by some country partners for specific meetings, the paid-museum approach is a missed opportunity for the country to reach and enlighten the masses.
Showcasing Capabilities
Some countries have effectively used this opportunity to showcase their capabilities. France, for sure, as the hosting country, did a fantastic job.
Brazil, for example, made a significant impact. The Brazilian house allowed visitors to cheer for their athletes, meet some of them, participate in open workshops, and learn about the country's natural beauties, food, flavours, history, and business environment. Some Brazilian states used this to showcase their regions as investment destinations and partnership opportunities. This strategic use of the Olympic platform can position a country as a prime destination for business and tourism.
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Other Noteworthy Examples
Good job, Comitê Olímpico do Brasil , Association of National Olympic Committees (ANOC) , Comité Olímpico Colombiano - COC , New Zealand Olympic Committee and Mongolia team.
The Power of Tourism and Cultural Exchange
Tourism remains a significant business, and cultural showcases like these can drive interest and investment. From an investment perspective, the Mongolia House, for example, was a highly impactful cultural experience. These houses are about soft power and tangible economic benefits from increased tourism and international partnerships.
Leveraging Social Media
Some social media brands also leveraged the opportunity to be in the houses, reinforcing their platforms as places for people to meet, influence, and find their groups. Meta, for example, did a good job in some country houses.
Other Highly Visible Events
The Olympic Games are not the only events where countries and brands can build reputations and expand business opportunities. Other examples include World Expos, the World Economic Forum, and?Web Summits.
I would love to see more countries view such events as opportunities to showcase their values, offerings as tourist destinations, investment opportunities, and technological partnerships.
These platforms provide unique opportunities to build reputation and attract investment, customers, and talent, making them opportunities that should not be missed. Like the Olympic Games, these events are more than their core theme (like sports). They are a global stage where countries, businesses, and brands can shine. By strategically leveraging this platform and other highly visible events, they can build their reputation, attract investment, and meaningfully engage with a worldwide audience.