Brisbane won the bid for the 2032 Olympics and whilst it might be 9 years away, strategic planning is often key. Plus, opportunities will be occurring for many years leading up to the Olympics, with planning, construction and preparation. As some free education for local businesses, I’ve broken this free educational article up into 3 segments, before, during and afterwards. This can be potentially an excellent opportunity for many Brisbane businesses and residents … so be sure to have a read!
How Brisbane Businesses Can Prepare for 2032 Olympics
Before the Event
The Brisbane 2032 Olympic Games is expected to create a 20-year pipeline of opportunities for businesses in Queensland and Brisbane especially. Whilst we have 9 years, now is the time to start thinking. This event is expected to bring over $180 BILLION in procurement between now and 2032 and will create almost 92,000 jobs!
- Businesses can take part in new projects so consider registering for tenders for upcoming projects. Just as there was leading up to Expo 88 and the complete revamp of Southbank, so there will be many projects in Brisbane. Emphasis will be given to Queensland businesses, so it wouldn’t surprise me if a few ‘southern’ businesses will start setting up in Queensland now in order to be eligible and most Governments, Queensland Included, give extra weighing to local businesses.
- Now is the time to look at your suitability; size, capability and how you can best meet procurement needs, such as creating new partnerships and developing their supply chains.
- Naturally, get started on creating an amazing Capability Statement.
- Register for the Buy Queensland supplier newsletter to receive updates about how their business can be involved in the Games. Visit business.qld.gov.au and look for the “Supply to Brisbane 2032” topic to sign up to the newsletter and stay up to date with available opportunities.
- Follow the Chamber of Commerce & Industry Queensland (CCIQ) on social media for details of upcoming free masterclass workshops and seminars on how to win business arising from Brisbane 2032 opportunities. CCIQ will also soon be releasing their report on what the Olympics mean for Queensland businesses. Visit cciq.com.au to sign up for its release.
- Get your business “Tender ready” by registering business capability on QTenders and be alerted about relevant open opportunities across Queensland Government. They can also view the Queensland Government Forward Procurement Pipeline to receive notice of future opportunities. In terms of improving the tender approach, there are a number of tips and resources available on the Business Queensland website.
- Consider (depending on your business) how you can be more involved in the 2032 Games. There will be so many peripheral needs, including marketing, technology upgrades, product development, recruitment and training, which may all take years to plan and implement. Taking a proactive approach now will place them in a stronger position to leverage the Olympics procurement opportunities as they start to arise.
- Businesses should ensure to have their systems in place. It is now essential to be able to scale your businesses accordingly to meet this further demand. The Olympics bring new customers and enquiries, so make sure everything is systemised and that they can deal with the influx in sales. The more you can utilise technology, the more likely you will be able to cope with increased workloads.
- Learn now the cultural differences of different countries. Understanding cultural differences ahead of time to help you avoid alienating and confusing your consumer that could lead to losing sales.
- Make a start now with your organic SEO … does it hurt to get onto page 1 sooner, rather than too late? This may be relevant for local and international visitors.
- Understand who your ideal customer will be. Start building a ‘relationship’ with them ahead of time.
During the Event
- If you’re a larger business, consider becoming an active Olympic sponsor and have a stock market presence. Stock in your brand can increase in value per share just from putting a financial stake in the games by becoming a sponsor.
- Make sure your online ecommerce store or website’s organic keywords and SEM (search engine marketing) campaigns are adjusted to reflect current Olympic trends that will capture consumers.
- Find real connections between your business and the Olympics, such as local athletes competing in the games or athletes that use your product or service. Promote those connections in placements on your site’s home page and in email marketing campaigns.
- Try linking to hot events or athletes. For example, take 10% off a product if Australia wins on the track today, or discount a service if an athlete makes it to the next round.
- Appeal to consumer patriotism by displaying the Australian flag and showcasing products and brands that create an emotional response.
- Ensure if you’re expecting increased sales, that your team, business or website can handle the influx.
- Get creative but take special care. The copyright rules and trademarks are excessive and the IOC is ensuring no-one takes commercial advantage of their branding. This isn’t just using the logo, or the words Olympic, Olympiad etc, even ‘go for gold’. It’s fine for an individual to post something about the games and say how much they are loving watching their favourite athlete compete, but if a business says the same thing, ie ‘All of us at XYZ Company are loving watching XXXX swim for gold’ … be aware that business may find themselves in very hot water. You are trading off the IOC’s branding and trade marks to make money. Sponsors pay good money, so the recipients of those funds are careful to ensure that value isn’t watered down for their sponsor. Whilst you won’t get away with selling your ‘Go for Gold Joggers’ you might get away with saying ‘it’s truly a golden day here in Brisbane’. I say might – I am absolutely giving you no guarantee. So, whilst you may get creative with your marketing, be absolutely informed and aware of stepping over the line with any ambush marketing.
- Abstract Advertising. Use an alternative way to advertise, you might create an article to share with your readers about the importance of hydration when playing sports. You could also use the approach of showing the benefits of wearing the right running shoes for the sport that you play, just take care to not mention the ‘O word’ or any of the rings imagery.
- Sharing Content. Even though you cannot create content or advertisements containing certain words or photos related to the Olympics, you may be able to share content created by an approved sponsor. Sharing content on social media, especially when it is a major current event, draws attention to your business, but I’m sure a condition of that sharing is that the sponsor is mentioned and acknowledged.
- The Olympics always see a surge in visitors and media as the greatest sportspeople on earth come to town. This will provide a sudden increase in spending and the injection of money into the local economy for a number of weeks. What business do you have which can be present and fully operational at that time?
After the Event – and everyone has gone home
- Businesses can continue sponsoring athletes in succeeding athletic or any other events held in the same venue.
- Businesses may use the profits gained from the Olympics in the continuation of their operation.
- Businesses may recommend or suggest to the local government to hold any events in the same venue to attract potential customers.
- Businesses can use their gained customers to show their products and services and attain recurring sales. You’ve got these contacts (be sure you do gather this data) so you may well continue to sell products online or reward them if they have a return visit to your hotel or restaurant.
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