For those that stayed up into the early hours of the morning to watch the most lucrative sporting fight in modern history, things generally went as expected in terms of the result. What we saw wasn’t simply a grudge match between two sporting icons, it was a carefully orchestrated marketing, branding and viral social exercise, that just so happened to captivate the world.
For those looking at Marketing, this’ll be a perfect case study for you. Study the build-up to the fight, focus on the key points in the build-up that generated the most public attention, and look at which points went viral, and why. It’s a masterclass on generating attention virally, and exploiting the many channels available to us all, to create a worldwide-known spectacle. It was way more than a fight. A business event that was perfectly planned, marketed and executed.
Of course, it wasn’t just a fun little marketing exercise for Mayweather, McGregor and everyone involved. The amount of money within the promotion was substantial.
Earnings Per Punch.
It’s rumoured that the total estimated purse was around $300,000,000 ($300 Million) for Floyd Mayweather, and $100,000,000 ($100 Million) for Conor McGregor. Many will be disgusted about the sheer amount of money on offer two the two sportsmen, however it’s worth us looking at it a little differently.
If, as an employee, you’re able to guarantee your employer exposure to hundreds of millions of people, and profits of over $150,000,000, the chances are, you won’t be asking for a basic salary of £15,000/year. Remuneration is all relative to your value added to your employer. Using stats from BoxingScene, the total punches thrown by the two fighters were as follows:
Per extension of the arm, in one direction. Of course, the figures above don’t account for the months upon months of training, marketing, promoting, travelling and general setup, but when it comes down to it, on the night, after the money has been counted, these are the figures.
Phenomenal amounts, generated from the sheer exposure the event saw, and the marketing potential for not only the promotion of the fight, but for the fight sponsors.
When looking at price vs attention, it makes total sense. If no-one bought products relating to the fight, or if no-one bought the pay-per-view, or if the world suddenly decided it wasn’t worth looking at, the purses would have been substantially less.
The same way that if, overnight, all advertising banners at football matches disappeared, merchandise sales at the stadiums stopped, and no-one attended games, it’s pretty obvious that the football players wouldn’t be paid half of what they currently earn. In business and marketing, you will always pay for greater attention. Whether this is a billboard, an online advert, or an international superstar, the amount of exposure you’re receiving, will nearly always represent what you’re going to pay.
On the topic of attention, marketing and branding, we’ve taken the same look at one of todays top footballers.
Cristiano Ronaldo, from the 2016-2017 football season managed to net an impressive 42 Goals, with his 2016 earnings totalling €32,000,000. Cristiano Ronaldo: 42 Goals, 38 Games, c. 3,000 Minutes Played
c. €7,619,047/goal, c.€8,421,052/game, c.€106,666/minute
Viral Social Marketing.
It’s fair to say, high profile = high attention = high earnings. With the social boom over the last 10 years allowing greater viral opportunity across multiple platforms such as Instagram, Facebook, Snapchat, Youtube, and many more, it’s now both easier, and harder than ever to create viral attention.
It’s easier, in the fact that there are multiple platforms, with billions of monthly users, that’ll allow you, free of charge, to generate content, and start to gain traction. It’s harder, in the fact that with so little barriers to entry, there’s now more competition than ever for the attention floating around these platforms. This now takes us to a point that resonates right from the top level of viral content creators, straight through to entry level marketeers. In order to generate sustained attention, you’ll need to focus, develop, and maintain a USP (Unique Selling Proposition) – something that you can offer, that no one else can, or can as efficiently as you.
Something that offers content to the end user, free of charge, that allows them to engage with your band, product, service. If you can create content that is free, unique and readily available, the next thing you know, your brand now has attention. If your content is unique, quick and effective, the chances are, you’ll have your end users sharing, reacting to, commenting and engaging with your content. The start of the viral chain.
As surreal as the figures above may be, it’s apparent that the attention surrounding the individuals listed, is so substantial, that multiple organisations would be willing to employ them. For this, supply and demand simply states that if you won’t pay the price to generate such an insane level of attention, someone will. The general basis of viral marketing.
Stats and figures stated above may be estimates, and are used to supply evidence to a marketing/attention trend we’re seeing in social media at present. All stats found are linked back to the end providers through their respective hyperlinks.