Marketers Spending Money during Olympics

Tons of marketers will be spending millions of dollars for advertisement campaigns to be displayed on social media outlets during the Summer Olympics. These marketers are often referred to as sponsors for the Olympics, will be spending such high amounts of money as a way of controlling the way that consumers use social media outlets. While it is an important task for marketers who are trying to grasp the attention of consumer, it is not always going to be the easiest. There are some social games that have even been created but this does not necessarily mean that they will come out shining or winning at all.

The Vice President for Forrester Research, Nate Elliot, says that the primary reason people use social media is so that they can have the ability to connect with their family and friends. He says that this is the primary reason people use social media and not to make a simple connection with a brand. And, while Elliot has made his opinion clear on how he feels about using social media to grasp the attention of consumers, it is has not stopped these big-name sponsors from giving social media marketing a try. In fact, several big names, such as Coca Cola, are using social media outlets as a way of getting fans of the Olympics to share different things, such as music and videos. Visa is working on getting fans to post cheers for different athletes who will be participating in the Olympics. The CEO for the Association of National Advertisers, Bob Liodice, says that social media should be used for all types of important sporting events and that the Olympics is simply one of them.

However, the question for sponsors still looms as to whether or not all of the money put out for social media marketing for the Summer Olympics of 2012 is actually worth it. These marketers are questioning whether or not the social media spending would be a waste or if it would be worth it at all. A large chunk of adults have admitted to using social media in recent years, more so than they have in the past, so it is possible that the social media marketing would work in the favor of these different sponsors, helping them to gain the attention of a broad range of consumers. Many sponsors are not too concerned and believe that it is in their best interest to take the time out and make the initial investment for the social media marketing during the Summer Olympics in London.