What Nigerian businesses stand to gain from Super Eagles qualifying to World Cup 2018
A lot of corporate deals and contracts are going to be closed based on this fate achieved in sports.
The excitement of government and the citizenry may be understood from the standpoint of patriotism. But, the jubilation of the corporate environment seems not to be understood by many.
Gerardo Molina, a sports marketing consultant, writes in his report: The Football World Cup of 2010: Destination South Africa, that corporate bodies are concerned about their country’s participation in the World cup for economic reason(s).
“We know that it is the most important football tournament on the planet and that it defines the meaning of competition in sports.”
“At the same time, it is an economic and financial battle that involves making numerous investments in the brands that will be worn by the different teams. [The brands] are searching for popularity and recognition in order to raise consumption and sales at an exponential rate.”
“The leading managers of clothing companies realize that it is a very profitable investment to pay exorbitant sums of money [for World Cup sponsorships]. Especially if you realize that about five billion viewers [around the world] will usually be following the event … Without a doubt, it is a gold mine.”
Economic benefits of Nigeria’s presence at the global soccer event to businesses extends beyond increase in their revenue. It also includes an opportunity to pitch to the international business community. As such, many companies fight to secure strategic partnership deals with FIFA or the football associations.
The aim of the race is access to a new market, which could trigger geographical expansion, and an avenue to attract new capital in form of investors. Corporate bodies have an opportunity to organize road shows to achieve these goals.
To corporate bodies, these are value propositions that this event accords them.
Businesses in the publishing industry are also to benefit immensely from this. This is because various sponsorship deals between the football association, players and some corporate bodies would lead to execution of published paraphenalia. Thus, translating into more projects and revenue.
This means increased employment generation and wealth creation for many operators in the Small and Medium Enterprises (SMEs) space in Nigeria.
Also, many traditional and digital media firms would be developing and positioning many products to benefit from the corporate interest and coverage of the event.
Many sport retail shops and merchants are also positioning for better business operations. Demand for new sports kits would be high.
For businesses in Nigeria, the Super Eagles’ qualification to the Russia World Cup 2018 provides a mixture of growth potentials and investors’ attraction opportunities. And it must be celebrated.
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