MY tops with Olympic incentives: How brands can jump onboard authentically

Malaysia is among the top 10 countries offering the highest official incentives for gold medallists at the 2024 Paris Olympics. 

Currently, the national contingent ranks fourth with a reward of US$214,000 (RM986,251) in its mission to end the wait for Malaysia's first Olympic gold medal, reported The Star. 

In a move to support local athletes who are competing at the 2024 Paris Olympics and Paralympics, Grab Malaysia said that it will be offering gold medalists up to one million GrabRewards and a year's worth of free GrabFood. 

In addition, every Malaysian athlete participating in the games will receive an additional 50,000 GrabReward points. The gesture, according to a statement seen by A+M, is a way of showing appreciation to the athletes for their hard work and dedication.  

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According to Syed Mohammed Idid, general manager, strategic communications and stakeholder engagement of West Coast Expressway, the value of supporting athletes has evolved over the years. 

"Olympians actually took part because of their own purpose, their own passion, their own desire, and based on their own capabilities, they train hard. They were doing it for their country, without rewards or monetary gain. They wanted to show the world how their country is able to nurture them to become the best Olympian or the best athlete," said Syed. 

However, everything is about branding now, said Syed, adding that,

"A lot of companies are jumping into the bandwagon because of the sheer size of eyeballs during the Olympic Games where billions of people are watching." 

Are brand rewards sincere?

Joey Gan, country lead of PRecious Communications is of the opinion that brands rewarding Olympians might seem opportunistic.

"The timing often coincides with the athletes' peak visibility and popularity during the Olympics. This can give the impression that brands are capitalising on the athletes' success and public attention to boost their own image and sales, rather than supporting the athletes consistently throughout their careers," said Gan.

This sporadic engagement can appear as a strategic marketing move rather than a genuine, long-term commitment to the athletes or the sports community, she added. 

In similar vein, Ann Chong, managing director of Team Lewis Malaysia said that Olympics event sponsorship remains a business decision. 

"Rather than exploring sponsorship for ethical reasons, companies need to decide based on whether the event sponsorship would be worth their while."

"Areas to consider includes viewership, alignment in messaging with the business mission, vision and principals, and whether there could be better alternatives to spend one’s marketing budget," said Chong. 

However, that doesn't mean brands aren’t allowed to show support for a sport or its athletes, added Chong. "In fact, the support for Olympic gold begins even before the event, with brands funding the athlete’s training, performance gear or sports equipment. In this regard, it would be a positive move for companies to help these athletes pursue their dreams," said Chong.

Gan agrees with Chong, adding that brands need to demonstrate a long-term commitment that goes beyond the Games. 

"To do it right, brands could identify promising athletes who could benefit from support and endorsements to advance their careers," said Gan.

"By supporting these athletes and helping them achieve their goals, brands demonstrate a long-term commitment. This approach is an investment in nurturing and growing talent," Gan explained, adding that anyone who makes it to the Olympics deserves that level of support. 

Doing it right 

According to Syed, if a brand wants to support a team or a particular Olympic activity or sport, the brand needs to be realistic and pragmatic. 

"The sponsorship should be relevant to the activity. If there's a good rationale for the brand and why it's supporting this particular Olympian athlete in this particular activity or spot, that's where authenticity comes in," said Syed.

Syed added that fatty foods or fast foods should not be sponsoring the Olympics, and neither should carbonated and sugary drinks. 

"Going back to any sponsorship, or connecting any brand to any sporting activities, it has to be relevant and it has to be genuine," said Syed.

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