The 2010 FIFA World Cup was a revelation of how global sporting extravaganzas can use social media as an effective marketing media. And now, with Singapore hosting the first ever Youth Olympic Games (YOG) starting two days ago, sports fans worldwide are preparing themselves for another sporting joyride.

I’m often quizzed by online marketers who’re interested in exploring “live” marketing case studies rather than the ones which occurred several years back. They have a valid point that marketing strategies change with time so what worked wonderfully well few years back may be a recipe for disaster in the current marketing scenario. I, for one, whole heartedly agree with them. When there’s the 2010 FIFA World Cup and now the YOG 2010, why do you need to go back in time and dig dead marketing graves?

Faster, Higher, Stronger – the mantra of YOG 2010, fits very well the ideology of social media. So, is YOG 2010 a good opportunity to market your business? Of course, yes. How? Let me answer that for you.

Olympic Brand

While YOG may not be as big as world Olympic games, it still shares the Olympic brand which is capable of drawing millions of advertising revenues. Audiences all over the world are glued to their TV sets and to the internet to get latest YOG updates, so there’s a tremendous marketing opportunity at hand.

It is widely believed that Olympic Games are one of the most recognizable and respected brands in the world – so why would you like to miss out on this opportunity?

The Marketing Perspective

The Youth Olympics are part of long-term plans of the Olympic movement and also serve as a precursor to the 2012 Olympic Games in London. If your business deals in sporting or educational products/ services, there can’t be a better marketing platform for you than the YOG.

YOG is all about today’s youth and if you are youth-targeted business, you’d regret missing this opportunity at hand. Even if you are not an official sponsor of YOG, it will do a world of good to your business to launch promotions/ marketing campaigns in order to cash in on the sporting buzz. Marketing is all about being at the right place & right time so make the most out of it.

Further, I recommend using events such as YOG as a part of long-term marketing strategy rather than treating it as a one-off opportunity. I call it sustainable brand development – something that’s vital to a business’s long-term future.

My advice is always to look for innovative and long-term sustainable marketing programs to engage targeted audiences (in this case – youth) and keeping up to date with social media.

Social Media

YOG is already generating a tremendous buzz in social media circles – Facebook, Twitter, YouTube and Myspace. And the event hasn’t even started yet. There are several online contests on these social media sites which are getting a phenomenal user response. And when it comes to YOG role models – you have great names such as Usain Bolt and Michael Phelps – it surely doesn’t get any bigger than this in terms of sporting brands. The YOG will be watched on TV in over 160 territories across all five continents by the IOC’s rights holding broadcast partners. It will get real time coverage on all leading social networks as well.

Faster, Higher, Stronger  - YOG and Social Media are truly made for each other! What do you think?