Swimming is one of the most high-profile sports of the Summer Olympics, and the 2024 Olympic Games are no exception. The popularity of swimming also presents a unique challenge for brands: how do you endorse athletes who are only in the national spotlight once every four years? This blog post takes a closer look based on my knowledge of marketing and my personal experience as a former Division 1 swimmer. I have competed against some of the swimmers on Team USA national team. So yes, I’m a little biased towards this sport.
The Elusive Nature of Swimmer Endorsements
Historically, swimming has produced athletes like Michael Phelps, who became household names seemingly overnight. Phelps rose to prominence during the Games, and his record-breaking performances made him synonymous with companies like Subway, Visa, Speedo, and Under Armour. Other swimmers, like Katie Ledecky, have also secured lucrative endorsements following their dominance in the games.
Swimming, unlike many other sports, garners intense attention during the Olympics but tends to fade from the public eye in between. This cyclical visibility makes it difficult for advertisers to build long-term campaigns around swimmers. The challenge lies in the unpredictability of who will become the next superstar. With each Olympics, new athletes emerge, capturing the hearts and minds of millions.
Who will be some of the breakout stars this summer? Matt Fallon and Chris Guiliano are two names to watch on our men’s team. Guiliano, a standout from Notre Dame, has garnered attention for his outstanding accomplishments during the Olympic Swim trials. On our women’s team, watch for Gretchen Walsh to shine.
But should advertisers sign endorsement deals with them now, or is it wiser to wait and see how they perform on the world stage?
The Case for Early Endorsements
First-Mover Advantage
Signing deals with potential breakout stars before the Olympics can secure a brand’s association with an athlete at a lower cost. Early endorsements allow marketers to capitalize on the athlete’s success and rising popularity.
Building a Narrative
Early partnerships enable brands to tell a more comprehensive story. Documenting an athlete’s journey to the Olympics can create a powerful emotional connection with the audience, fostering brand loyalty.
Exclusive Association
By endorsing an athlete early, brands can establish an exclusive relationship, preventing competitors from jumping on the bandwagon once the athlete becomes a sensation.
The Risks of Early Endorsements
Performance Uncertainty
The biggest risk is that the athlete might not perform as expected. Injuries, unforeseen competition, or simply having an off day can diminish their chances of stardom, making the investment less fruitful.
Media Exposure
If the athlete doesn’t gain significant media attention, the brand might not receive the anticipated return on investment. The fleeting nature of Olympic fame means that even promising athletes can sometimes slip under the radar.
Brand Fit
Without knowing how an athlete will handle the pressures of fame and media scrutiny, a brand incurs the risk that the athlete might not align well with the brand’s values and image in the long run.
The Case for Waiting
Performance Assurance
Waiting until after the Olympics allows brands to see which athletes truly stand out. This reduces the risk and ensures that the endorsement will be associated with a proven star.
Media Momentum
Post-Olympics, the media spotlight on breakout stars is intense. Brands can capitalize on this momentum by associating with athletes who have already captured the public’s attention.
Better Negotiation Power
While early deals might be cheaper, post-Olympics endorsements offer clearer insights into an athlete’s marketability, allowing for more strategic investment decisions.
What Advertisers Should Do
For advertisers, the optimal strategy might be a balanced approach. Here are some detailed suggestions:
Consider Conditional Endorsement Deals
Consider signing deals that hinge on performance outcomes or create tiered endorsements where initial support can be ramped up based on the athlete’s success. Engaging in flexible partnerships allows brands to mitigate risks while still having the opportunity to align with emerging stars.
Assess Athletes for Brand Fit
Assess a swimmer’s fit for your brand based on their personality, vibe, and social media presence. An athlete who aligns well with your brand’s values and has a strong, positive online presence can enhance the authenticity of the endorsement. You can do this kind of homework before the Olympics begins.
Focus on Long-Term Relationship Building
Focus on building relationships with athletes and their support teams. Investing in the athlete’s development both personally and professionally can enhance brand loyalty and create authentic endorsements. This approach can lead to long-term partnerships that extend beyond the Olympic spotlight.
Embrace Storytelling
Once you choose to work with an athlete, consider a holistic campaign to develop a long-term relationship. Use the athlete’s journey to craft compelling narratives that resonate with your target audience. Documenting their training, challenges, and successes can create emotional connections and foster brand loyalty.
Who Will Be the Next Break-out Star?
One thing we know for sure: someone will become a break-out star who captivates the world’s attention. This is part of the joy of the Olympics: the incredible human stories that emerge. The key to effective branding in this unpredictable context is to be strategic, patient, and creative in crafting endorsements that truly resonate with both the athletes and the audience. At True Interactive, we help brands build awareness and drive revenue. Learn more about our expertise on our website.
Go Team USA!
