The Olympic effect
So with Easter out the way, consumer’s eyes now look forward to what the summer holds. In fact there are 2 events coming which should have an effect on how consumers behave.
Firstly, the Euros. A footie tournament that captures the public’s interest right up until the point England get knocked out (usually about halfway through the 3 week tournament). The effects past Euros and World Cups had on our clients show us that it usually defers purchase behaviour, although the net effects (i.e.: will it generate or supress overall sales in a year) is typically nil.
And so onto the Olympics…
Whilst on paper this is over 3 weeks as well, the action (the start of the Athletics) doesn’t really hot up until the end of week 2. This means the Olympic effect is likely to be slower burn until Usain Bolt makes his first appearance on 4th August. Remember: it will be over only 8 days after this date.
We believe that the Olympics will have a similar deferring effect as seen in major football tournaments. In fact, the politicians will be jumping on the post-event effect as ‘proof’ that the Olympics has bought the feel good factor back to Britain and this translates into better business. Not so we say…
The big difference however, is that the action will distract consumers at certain times of the day. The action will also typically be focussed towards the afternoon / evenings, and there will be lots of it (unlike 90mins of football), so for e-commerce clients, the mornings will become particularly important for ‘getting business in’.
Dayparting strategies will be the key way of coping with disrupted consumer demand. In particular digital marketeers will need to be on top of their game to ensure they can change strategies swiftly during the Olympics and ensure they are able to meet this changing behaviour. (Think search bid strategies, display weighting, and even messaging.)
And finally, whilst the post Olympic factor might be billed as George Osbourne’s white charger, remember that the net effect to most businesses may actually be a zero sum game, but you’ll only know if you do your sums in the right way.
Saying that, consumer confidence is the bit that needs fixing, so bring on the summer.