BWA was retained by JP Morgan Chase to analyze the effectiveness of its sponsorship agreements with the US Open and to create strategies to increase brand awareness, deepen customer relationships and to showcase its social responsibility.
The project was completed in three different phases
Phase 1 – Sponsorship Analysis
BWA calculated the value of the in-broadcast exposure received by JP Morgan Chase across all national and international geographies. This was done by analyzing a sample of the event broadcast and then project the total exposure received by the bank. BWA obtained viewer-ship information, and then applied its proprietary formulas to determine the “real market” value of this exposure.
The evaluation process was based on a conservative philosophy whose objective was to arrive at the fair market value for sponsorships. This unique, trademarked process did not base solely on the CPM rate for TV advertising or comparisons to similar properties. In contrast, BWA’s methodology was based on three key components:
- Our annual market review. BWA polls executives from sports and entertainment properties, corporations and ad agencies. We also conduct extensive secondary research on the price being paid for various sponsorship elements.
- Our sponsorship analysis experience. In its history, BWA has evaluated hundreds of sports and entertainment properties, including the world’s most prestigious. This work has totaled more than $11 billion in sponsorship value.
- Our negotiation experience. The BWA has negotiated more than $2 billion in sponsorship contracts for our property and corporate clients. Each time our analytical work has withstood the scrutiny of our client, its agencies, and those sitting on the other side of the table
From these key components, BWA then established a range of value for each sponsorship benefit. After doing this, BWA considered approximately 20 quality characteristics of each benefit -- aspects such as market forces, the quality of the sponsor’s exposure, sponsor clutter, supply and demand, economies of scale, etc. Finally, those factors were used to assign each benefit a specific value within our range. This value was truly representative of the quality of exposure that was being delivered by each exposure vehicle.
Phase 2 – Sponsorship Recommendations
After evaluating the sponsorship agreement, BWA also made strategic recommendations. These included –
· Strategic placement of JP Morgan Chase signage to maximize brand association
· Organizing a ‘JP Morgan Chase Night’ on the eve of the women’s final
· Creation of JP Morgan Chase branded tennis camps for children
· Organizing a corporate clinic with the CEO
· Special tickets for corporate clients
· Creating a JP Morgan Chase hospitality tent that also housed the company’s art collection
· Offering discounted tickets to JP Morgan Chase employees
JP Morgan Chase experienced higher levels of brand awareness amongst tennis watchers across New York and the rest of the world.