Olympian Michael Phelps' record-setting performance in Beijing has led to multimillion-dollar endorsement deals, but his road to marketing gold was paved years before he swam a lap in China.
Phelps' marketing success this summer grows from a strategy his agent, Peter Carlisle of marketing powerhouse Octagon, has mapped out carefully over the six years of their partnership. Venturing online and into other new venues and targeting new geographies, Phelps and Carlisle are pursuing a lasting public presence and $100 million in endorsements — unheard of in swimming. If they succeed, Carlisle's handling of the 23-year-old swimmer could be a model for managing Olympians.
The downside, of course, is the risk of overexposure. Carlisle has to balance his goal of getting the most endorsements for Phelps without diluting his brand.
The pair are going beyond the traditional advertising campaigns used by many past Olympians, though his brand is fairly traditional: He's an all-American champion, and companies want to associate their brands with him in the hope some of the gloss will rub off on them.
Phelps' marketing success this summer grows from a strategy his agent, Peter Carlisle of marketing powerhouse Octagon, has mapped out carefully over the six years of their partnership. Venturing online and into other new venues and targeting new geographies, Phelps and Carlisle are pursuing a lasting public presence and $100 million in endorsements — unheard of in swimming. If they succeed, Carlisle's handling of the 23-year-old swimmer could be a model for managing Olympians.
The downside, of course, is the risk of overexposure. Carlisle has to balance his goal of getting the most endorsements for Phelps without diluting his brand.
The pair are going beyond the traditional advertising campaigns used by many past Olympians, though his brand is fairly traditional: He's an all-American champion, and companies want to associate their brands with him in the hope some of the gloss will rub off on them.
topics:
News,
Entertainment,
Current,
Celebrity,
Ads,
Michael Phelps
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- added September 07, 2008
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