The Olympics 2024 is setting up to be a colossal event for digital content, with YouTube alone already receiving over 33 billion visits for Olympics-related content. This global event allows advertisers to reach audiences well beyond the United States. However, with top-tier brands vying for advertising space, the challenge arises in securing visibility without the hefty price tag. Moreover, will social media trends shape advertising strategies and costs for this year’s Summer Olympics?
Budget-Focused Strategies for Your 2024 Olympics Advertising Campaigns
Amid the pandemic’s peak, the Tokyo Olympic Games 2021 set a record-breaking 5.5 billion streaming minutes watched on social media and platforms like NBCOlympics.com, the NBC Sports app, and Peacock. Additionally, the International Olympic Committee’s social media accounts gathered 6.1 billion engagements, including video views, shares, comments, and likes during the games.
With such an extensive potential reach spanning different devices, updating your advertising strategies becomes crucial. Identifying your target audience and knowing when and where to reach them best is key to effectively advertising during the 2024 Olympics season without overspending.
How Your 2024 Olympics Advertising Plan Can Look Like
As the 2024 Summer Olympics draws closer, the window of opportunity to promote your brand remains wide open. If your brand is not an official Olympics sponsor or partner, there’s ample time to start your 2024 Olympics social media marketing and test your way into an effective campaign.
Budget and Timeline
Whether you’re presenting Q2 and Q3 marketing ideas to your director or catching up on utilizing your marketing budget, paid social media advertising offers a flexible and effective way to reach your target audience.
The beauty of having a set budget is that platforms’ AI capabilities can adapt to your requirements. Here’s a breakdown of how your sample budget and timeline can look like:
| Meta | YouTube | TikTok |
|---|---|---|
| Beauty salons (cosmetics) | Beauty & Wellness (Affinity) | Beauty and Personal Care (Interest) |
| Cosmetics (personal care) | Natural Makeup (In-market: other) | Beauty and Personal Care (News and Entertainment) |
| Anti-aging cream (cosmetics) | Beauty Brands (In-market: other) | Beauty and Personal Care (Life Services) |
| BB cream (cosmetics) | Beauty Products (In-market: other) | Fashion and Beauty (Creator Interaction) |
| Beauty & Fashion (cosmetics) | Organic Body Care Products (In-market: other) | Beauty & Style (Video Interaction) |
| Concealer (cosmetics) | Skin Care Products (In-market: other) | Beauty & Care (Video Interaction) |
| Eye liner (cosmetics) | Skincare Products (In-market: other) | Face Makeup (Interest) |
| Facial (cosmetics) | Makeup Essentials (In-market: other) | Makeup Sets (Interests) |
| Foundation (cosmetics) | Makeup (In-market: other) | Makeup Tutorials (Additional Interests) |
| Hair care (personal care) | Tanning & Sun Care Products (In-market) | Body care (Interests) |
| Health And Beauty (cosmetics) | Hair Care Products (In-market) | Body care sets (Interests) |
| Lipstick (cosmetics) | Nail Care Products (In-market) | Skin Care (Interests) |
| Makeup brush (cosmetics) | Face Lotions & Moisturizers (In-market) | Skin Moisturizer (Interests) |
| Makeup Tutorials (website) | Facial Cleansers & Makeup Removers (In-market) | Nail care (additional Interests) |
| Mascara (cosmetics) | Beauty & Personal Care (In-market) | Hairdressing / Nail care (additional interests) |
| Moisturizer (cosmetics) | Skin Care Products (In-market) | Haircare (Interests) |
| Natural skin care (cosmetics) | Eye Makeup (In-market) | Haircare Products (Interests) |
| Organic beauty (cosmetics) | Face Makeup (In-market) | Haircare Products (additional Interests) |
| Skin care (cosmetics) | Makeup & Cosmetics (In-market) | Skin Care routine (additional interests) |
| Sunscreen (skin care) | Lip Makeup (In-market) | Body Skin Care (additional interests) |
Refined Audience Targeting
To craft a detailed targeting strategy for your 2024 Olympics advertising plan, it’s essential to understand how your audience consumes related content. Aside from the brand you are advertising, what preferences and interests should you be focusing on?
We’ve crafted a detailed list of all Olympic sports available for interest targeting on advertising platforms.
Get the full list here.
To test how this refines or broadens your reach even further, let’s look back at the table from above:
Case Study: HVAC Company Campaigns Targeted Towards Sports Fans
During last year’s winter season, an HVAC company launched an advertising campaign to target both the US and Canadian markets effectively. However, with distinct demographics, interests, and audience behaviors in each region, the challenge was to devise strategies that could succeed in both markets.
Canada Strategy
In Canada, the campaign’s approach was tailored to showcase the resilience of the company’s HVAC solutions across various seasons. Additionally, the campaign leveraged YouTube’s audience targeting capabilities, particularly focusing on Custom Intent audiences and Canada’s enthusiasm for sports.
These strategies yielded the following outcomes:
While the campaign didn’t directly target sports events, it effectively tapped into the audience’s interests, particularly Canadians’ passion for sports. This highlights the versatility of the marketing strategy, suitable for year-round implementation in the Canadian market, and effective beyond specific sporting events.
US Strategy
In the US, the HVAC brand aimed to cater to the substantial number of mobile viewers prevalent in the country. To achieve this, the brand adopted Video View Campaigns (VVC), distributing its creative across various formats, including skippable in-stream, in-feed, and Shorts.
The VVC initiatives yielded the following outcomes:
This case study showcases the importance of adapting creatives to cater to mobile viewers while also ensuring visibility across other platforms like CTVs. Despite the focus on mobile audiences, the brand successfully reached a substantial number of viewers through both Shorts and CTV placements, highlighting the equal importance of these platforms in the VVC strategy.
Bonus: Creative Strategies for Sustaining Advertising Momentum Post-2024 Olympics
The sports season isn’t just for die-hard fans anymore. Even casual sports enthusiasts and those curious about their country’s performance can be valuable targets for paid social media advertising.
Here are some creative tips to ensure your advertising remains impactful long after the Olympics:
IcyBreeze
IcyBreeze, a manufacturer of portable AC units, smartly capitalized on the Olympics without explicitly mentioning the event in their ad. By featuring Coach Prime from the University of Colorado Boulder’s football program, they targeted their audience effectively. While the ad focused primarily on product usage, its association with Coach Prime subtly tied it to the Olympics, offering versatility for year-round use.
NBC and BuzzFeed
NBC have not only broadcast live Olympic events in the past but have also collaborated with BuzzFeed on Olympic features distributed across Instagram, Facebook, Twitter, and Snapchat. One standout example is their feature with Olympic Swimmer Townsley Haas, addressing the unique challenges faced by tall individuals, commonly known as “tall people problems.”
Listicle videos like this one consistently rank among the most popular types of video content on social media platforms.
e.l.f. Cosmetics
Despite being released on Game Day, the e.l.f Cosmetics ad did not explicitly reference the big event, allowing e.l.f to repurpose it year-round. By seizing the ad spot and leveraging celebrity endorsements, e.l.f ensured its brand stayed at the top of the mind long after the event.
Furthermore, notice how engagement accumulates two months after its initial posting on YouTube, underscoring its ongoing relevance and effectiveness in connecting with the right audience.
Here’s how you can follow suit: Imagine you’re a TV distributor looking to capitalize on the 2024 Olympics buzz. Rather than directly referencing the event, envision a scenario where a family upgrades to a larger TV to enjoy quality time together watching the games. By focusing on the bonding experience facilitated by your product or service, you can resonate with audiences beyond the scope of the Olympics.
High-Impact Strategies for 2024 Olympics Advertising
The strategies outlined in this guide are paramount to your advertising success during the 2024 Olympics. With NBC Olympics already securing $1.2 billion in ad sales for the upcoming games, it’s clear that the competition for ad space will be fierce. However, budget constraints need not limit your reach to Olympic audiences.
This is just the beginning of what you can achieve. For further insights on optimizing your 2024 Olympics advertising strategies, contact our team and discover how Strike Social can elevate your campaigns. Contact us for inquiries or schedule a consultation with one of our experts today.
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