Last week, when all eyes were on the Boston Marathon, the name being mentioned was Eliud Kipchoge.
Even though there were no cheers for him having come in sixth, this greatest marathoner of all time has taught us one thing, it is time we start monetising our sports icons.
It was gratifying for Kenyans to watch our own Evans Chebet and Hellen Obiri carrying the Kenyan flag high with top prizes at the 127th Boston Marathon, featuring nearly 30,000 athletes from more than 100 countries.
But despite him not winning the Boston Marathon, we’ve not seen the last of Kipchoge.
And most importantly, we could leverage our economy, talent, and skills with him as an icon and make him form Kenya’s sports icons.
Without knowing it, the sports icons are our brand identity. Their achievements and success can also be monetised in several ways, which can help create jobs and benefit the local community.
And considering that since the Safaricom Lewa and the Standard Chartered marathons started, sports tourism has grown steadily in Kenya.
More opportunities exist in Kenya that need to be exploited. Kenya has diverse options that can be turned into a brand product.
Some low-hanging opportunities include Kipchoge’s hometown of Eldoret, which has become a popular destination for sports tourism.
It also has excellent potential for expansion. In addition, the tourism industry can create jobs for locals, including tour guides, hospitality workers, and transportation providers.
Besides sports tourism, Kipchoge and other local investors can build sports academies and training programmes to aid in the development of young talent from all fields using his knowledge, experience, and resilience.
In addition, coaches, trainers, and support workers may find employment due to this.
Kipchoge’s success can also lead to endorsement deals with brands and companies, creating jobs for marketers, brand ambassadors and other professionals.
We can learn from LeBron James, a US basketball player who has made a fortune through his partnership with Nike.
He entered into a lifetime contract with the business in 2015, which is thought to be worth more than $1 billion.
As one of the market’s most well-known and successful shoe brands, LeBron James’ signature in the shoe line is given great attention.
LeBron James’ sports merchandise contains a diverse range of goods, including jerseys, sneakers, hats, T-shirts, and other accessories, making it challenging to determine its exact value.
However, in 2020, it is estimated that LeBron James earned $40 million in commission from clothing sales to become one of the highest-paid NBA players in income.
Kipchoge’s brand is a source of wealth in creating merchandise such as clothing, shoes, and other products. Kenya can produce all this merchandise at the export processing centres and export to many countries.
Working with culinary experts studying consumer tastes, Kipchoge can endorse Mursik (a traditional fermented milk variant of the Kalenjin people) to create a new product just as Daniel Carasso did in helping turn yoghurt from an obscure ethnic Jewish food into a multinational product through the Danone brand.
More than 100 years later, Danone yoghurt is still in the market worldwide.
Similarly, Mursik could become a global brand by investing in industrial production supported by many investors. Kipchoge’s endorsement could send this outstanding product to shelves across the world.
The yoghurt-like taste could be the secret to the success of many marathoners coming out of the Rift Valley.
Even though athletes like Kipchoge require a combination of skill, strategy, and reflexes to succeed. They also have an opportunity to develop an e-sport game which requires a player to deploy similar tactics to win.
According to recent studies, the idea has led to an emerging e-sport industry that is one of the fastest growing.
Revenues from e-sport in 2021 topped $1 billion. The global esports audience will hit 500 million people in 2022, with Asia being the largest market.
The e-sports sector involves professional and amateur players worldwide and spans a wide range of games and platforms, including mobile and console gaming.
Philanthropy is also an area in which Kipchoge can use his status to influence and support local charities. In doing so, more job opportunities can be created within the non-profit sector.
Kipchoge has been and can be a significant influence on others. His status as a symbol can be used in various ways to nurture our talent, use esports to create jobs and have a good impact on the Kenyan economy by strategically utilising his fame and achievement.
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