The World Cup is back and in just a few days the biggest football competition in the world will be kicking off in Russia to find out who is the very best team on the planet. Today we are going to look beyond the football and scratch beneath the surface of how businesses in just about every country in the world, are able to use this competition to boost their profits.
The World Cup provides a unique opportunity for money making, and here are the nuts and bolts behind how it is done.
The first step to making money off the back of a World Cup is simply to embrace it, this is a marketing opportunity which needs little input from your own business. Any fans of football are already whipped up into a frenzy over the competition which makes them far more inclined to spend money on football related gear. As a business you can use this free marketing, to sell products and services which can be coupled with the spectacle.
Selling World Cup merchandise is a greta way to make money during this tournament, be it official or unofficial equipment. Over recent months and the coming weeks, national pride takes over and consumers are more than happy to invest in clothing, flags, trinkets and just about any other type of memorabilia which has their teams colors emblazoned across them. As an indication of how much money can be made, during the 2010 World Cup in South Africa, over 3,000 vuvuzelas were sold in England alone.
One thing that is for sure is that when the football starts, everybody stops what they are doing and switches their gaze to the nearest television. What this means for anyone who runs a bar, a restaurant or an events location, is an opportunity to make big cash on match day. In order to do this you have to have the perfect set up, tag on drinks and food promotions and most importantly, get the word out there that your place is the best to watch the action.
Many companies will make huge money and gain a great amount of new clients by offering unique World Cup experiences. For the small investment of some tickets for the finals themselves and a plane ticket or two, you can then open up a competition which consumers will automatically enter upon being a certain product, with the chance to see the action live. Many businesses will do this on items such as televisions and speakers, offering the perfect medium to watch the finals, as well as having a chance to actually go should someone win. Imagine if a company invests $5,000 on tickets and plane travel, and as a result sells 10 televisions at $1,000 each, a license to print money!
Worldwide events such as the World Cup provide a wonderful opportunity for many businesses to cash on the hype that surrounds the tournament, as well as being able to boost their company’s reputation.