Mining local money angles from the Winter Olympics

By Flickr user The U.S. Army

Training camps, tourism – outbound or inbound, depending on your location relative to Vancouver – and the business of sports and athleticism are excellent local tie-ins to the Winter Olympics.

Looking for more?  Now that we’re closer to Friday’s lighting of the symbolic flame, consider a few other  financial approaches to the games.

Merchandise. There appear to be several official licensors, including the Vancouver Olympics and Team USA as well as specialty Web sites by related companies like NBC and sponsors.  It’s unclear which national retailers will carry official merchandise in the U.S., but you’ll want to check with local merchants and big box stores.

Many merchants across Canada will be stocking Olympics gear; if you’re turf is near our northern neighbor, keep an eye out for cross-border shopping and what law enforcement may be doing to cut down on bootleg or counterfeit goods.

Aside from clothing, mittens, hats and other fan apparel, scope the Internet and talk with collectors about coins, figurines and other commemorative goods.

Memorabilia. What’s selling from past Olympics on Craigslist, in classifieds and other eBay?  This could be a personal finance angle – does the opportunity to unload Olympics souvenirs peak only every two years?  An alternative storytelling round-up of on-sale items and prices would make a great little money feature, especially if your region boasts any Olympic medalists.

Endorsements. Any former Olympians in your neck of the woods?  While your sports desk may be planning a “where are they now?” feature, consider augmenting that with a “how much are they worth now?” approach.  While the athletes may not be willing to bare their bank accounts, sports agents and marketing pros may be willing to guestimate, or at least rank-order your local stars in terms of their endorsement potential.

Check talent agencies and speakers bureaus like GoldMedalGreats,  TheAthletesAgency and PlayingFieldPromotions for both local names on their roster and experts to comment on post-Olympics earning potential.

Internet. Canadian Broadcaster CTV has released a free app that reportedly will features schedules, photo galleries and other Olympics coverage.

Surf around or create a panel of local techies (staffers or readers) to find other apps, downloads and other fun Olympics related electronic amenities your readers will want to know about.

Social media. Any rabid local fans heading to Vancouver?  You might want to organize a panel and set up a Twitter feed your readers can access to read the hometown point of view.

Consumer behavior. Advertising Age reports that NBC has launched research into how viewers use TV and the Internet during the games – which could have implications for future pricing of Web-based ads.  If you’re in an advertising or tech-heavy market, try for a story about state-of-the-art methods used to track surfing and viewing habits.

Also on the TV front, here’s a Broadcasting and Cable piece about how some affiliates are prepping to cover the games.  Taking the contrarian tack – you might look into how local television, radio, sports, dining and entertainment  venues will try to lure patrons away from NBC during the deluge of Olympics coverage.  It’s got to be a financial hit for many businesses, though a boon for pizza delivery people.