Now that President King Dictator Michael Phelps has won the Olympics — literraly, the whole shebang is his — what's next? Doubtful that a guy could win eight gold medals in Beijing and then go back to Maryland with his dog to swim laps in the Potomac, although that looks as if it's Mikey's game-plan. Luckily, the money from Phelp's endorsements might last him long enough to buy a place in a nicer neighborhood than Baltimore; Speedo is writing him a cheque for $1 million as part of its promise for him winning eight gold medals, and that's on top of their existing endorsement deal, his sponorship gigs for Visa, Hilton, and Kellogg's (among others).
It leaves little doubt Phelps will add "richest Olympian" to his roster of personal records. But he's going to accomplish a more incredible feat: remaining relevant after the closing ceremonies. Indeed, where other celebrity Olympians disappeared into oblivion after their medal ceremonies, we see Phelps reaching the success of pro athletes who compete in leagues identified by three-letter acronyms.
Here's how:
Olympic athletes notably do not carry much shelf-life. Their relevance arrives only once every four years, and even then, for just the weeks and months leading up to the games and the puddle of time afterward. Also, while an injury might hurt a NBA player's season, it won't hurt his shoe sales. Not so for an Olympian. Take a look at this year's unfortunate hurdler Liu Xiang; once China's literal poster boy, his foot injury is now putting Chinese advertisers in the uncomfortable position of trying to find a market for Olympic tragedy.
Unlike Tiger Woods or Michael Jordan, there aren't many endorsement opportunities for Olympians once the games have ended, unless, like Phelps, they have managed to parlay their success into a personality trait.
Phelps = Success. Phelps = Winning. Phelps = Gold.
The swimmer's performance in Beijing will stick around in American consciousness for awhile longer than, say, the United States' women's gymnastics team, which means the market for Phelpsabilia has a much lengthier wave. Even if he never stumbles into the water again.
Though that's not going to be the case. Phelps is already on his way to London — to start to promoting the 2012 games, and his place in them.
Now, if only Phelps would reveal his secret deal with McDonalds, America could go back to its regularly scheduled program. Until then, well, enjoy seeing ads like these dominate your viewing time:
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Hey did Phelps forget his dog after he went into that coffee shop? I also noticed how short his legs are compared to his upper body. Kinda strange! He doesn't have the, what is it called, face appeal than say like Ryan Lochte or Aaron Peirsol. Even so, good on him for getting all the endorsements. Now he just needs to keep himself out of trouble and not get DUIs or be caught on YouTube snorting a line of coke.
DLR, did you see the short clip of the "perfect swimmer's body" they ran about MP before one of his races? It was pretty interesting…apparently he has the legs of a shorter man and the torso of a taller one, which is ideal for swimming bc his shorter legs give him a more powerful push off the wall. Also they mentioned his feet are size 13 which are basically flippers, he's double jointed in his elbows AND knees which allows for more powerful swimming strokes, and he has dinner plate size hands which obviously help him move through the water faster.
Basically, guy is a amazing freak of nature built for swimming. Like, if you had to build the ideal swimmer, Michael Phelps would be it.
Maintaining success after the Olympics can rest on common sense. The first thing, of course, is to save as much money as possible, do not invest in shaky investments, line up as many endorsements now as possible, do not spend money on stupid things like $10,000 necklaces and $300,000 cars (which people have done), stay away from posses and greedy agents and managers, stay away from drugs and drinking to excess, keep strong family members close at hand, keep strong friends close at hand, line up endorsements that match your skills–Speedo, swimwear, beach wear, goggles, swim suits, towels, swim caps, anything swim or beach related, do not submit to stupid TV sitcom cameos, do not submit to stupid movie or video cameos–they're tempting, but don't do it; line up more endorsements; tap into the foreign endorsement market, also, especially in Western-loving countries like Japan, England, Spain, France and other allies; no late-night club stumbles; no drunk driving; and, again—-line up those endorsements now, no flashy spending, keep up good appearances and p.r., no entourages or posses, no arrests, no cameos, and save as much money as possible. If you get $5 million or $10 million banked, earning interest, you've done extremely well.
Dr. Tantillo ('the marketing doctor') has a branding blog ( http://blog.marketingdoctor.tv ) and did a recent post on the Michael Phelps brand, discussing the challenges Phelps will have in leveraging his brand for promotions (lack in popularity of swimming as a sport in the U.S., the fact that his brand is closely tied to the Olympics, which is episodic..) and also pointing out ways Phelps will be able to succeed despite these challenges.
http://blog.marketingdoctor.tv.....isory.aspx