Building Brand Awareness Through Athletic Sponsorships

Building Your Brand Through Sports Sponsorships!

It’s easy to forget how important sports are to so many people when college football crowns its champion and the NFL playoffs begin. A brand can benefit from partnering with sports properties due to their passion. Companies in North America spent $14 billion dollars on sponsorship rights in 2014. Companies in Europe spent nearly $15 billion. Sports make great sense for brands like Gatorade, which are sport-related. Nevertheless, brands from all sectors, including soft drinks, cars, and insurance companies, benefit from sport sponsorships.

A well-chosen sports sponsorship can enhance a brand’s marketing efforts. It is important, however, for a company to choose its sports sponsorship carefully and consider many factors before signing a contract. In order to determine whether a sponsorship is cost-effective, it must have clearly defined objectives and valid, reliable measurement methodologies.

It is important to include sports sponsorship as part of a broader marketing strategy that considers both the long-term goals of the brand and the company overall. Companies that choose to use sports sponsorship face the constant challenge of implementing a success plan and calculating the ROI.

There are four main areas of the marketing mix that a major sports marketing agreement will impact. How effectively the sponsorship plan impacts these areas will be something each company will have to devise a method for measuring, but in order for the sponsorship to be successful, each area will need to benefit.

How to Produce Differentiated Marketing Platforms
through Sponsorships?

In order to develop a new market or reach new customers, a sports sponsorship marketing plan must reach consumers who haven’t been exposed to the product or brand before. By signing a sponsorship agreement, you can gain access to an underserved market or expand into a new region. Comparing the demographics of new and existing customers is one of the ways to measure differentiation effectively.

A brand or product can also expand to a complementary market segment by building upon prior sponsorship success. An organization with success on the professional level could utilize that loyalty and expand into a similar geographical area on the collegiate level. The sponsorship of a single event rather than a team is also an effective way to test a sponsorship agreement on a smaller scale and gauge interest. If a sports sponsorship marketing plan is to be successful, it must aim to grow an existing consumer base, expand into new markets, or create a new market that did not previously exist.