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Expert: How brands can capitalize on the Olympics
The Olympic Games are an important global sporting event that is observed by billions of consumers around the world. The 2012 Olympics that were held in London had 3.6 billion viewers. That is a number that brands can't ignore, especially when it comes to engaging with consumers in emerging markets.
Kristina: What makes the Olympics such an important event?
Marco Veremis, Upstream CEO: The majority of Olympics engagement now comes from mobile - in 2012, 60 percent of visits to the official Olympics website came from mobile devices. In emerging markets, the majority of online activity is performed over mobile devices and a highly watched event like the Olympics is a great opportunity for brands to attract the attention of new customers in regions like Africa and Latin America. According to the GSMA, the penetration of mobile phones in emerging markets is taking off so it is important for brands to be present on this screen.
High-growth markets present the greatest opportunities for customer growth for brands as three billion global consumers outside of western markets adopt mobile. Upstream commissioned research which found that 88 percent of consumers in emerging markets use their cell phone for digital services beyond calling and texting and 87 percent are willing to pay for high-value content services. There's a chance for brands to bring timely and engaging content to underserved markets around the globe because of the international nature of the Olympics.
Kristina: Should brands consider using the Olympics to increase their international profile? How can brands optimize their profile during the Olympics?
The Olympics is a global event so naturally it makes sense that brands would strive to reach an international audience. The key to reaching consumers in developing markets is through mobile as consumers in these regions have adopted them readily while use of other devices such as PCs have declined considerably. However, brands need to be aware that while smartphone penetration is increasing in developing markets, a large part of the population is still using mobile devices with less advanced features. Thus, brands need to optimize their mobile strategy to reach international audiences during an event like the Olympics. Given that that the world is not flat, a Western, one-size fits all strategy will not work in emerging markets. Instead, brands should study specific markets that are important to their business and develop specific strategies for each of them.
More from Marco and Upstream tomorrow, including his top 3 tips for a strong Olympics campaign.
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