A lot of times, when partnering with a school district the exposure will extend throughout the high school campus parks and facilities increasing the ability to reach every resident within the district. This creates a real win-win opportunity for quick return on investment.
In our last post, we examined a few instances of brands dealing with the fallout emerging from their sponsored properties falling on the wrong side of law and/or public opinion. This time, let’s take a look at the other side and see what properties do when the brand that’s sponsoring them meets the same fate.
Ryan Lochte being dropped by four of his major sponsors makes him the latest in a string of high profile athletes and bodies that have seen premature ends to their sponsorship agreements. Today’s post analyzes some of the incidents from the recent past and looks at some strategies that brands can employ in order to mitigate the damage arising from transgressions from their endorsers.
The first companies to experiment with Big Data are household names within the e-com world. Initial small scale projects were developed by the likes of Google, LinkedIn and E-Bay to improve analytic models on a trial basis. They used these trials to identify how and if they could make improvements based on introducing new data sources.
Emotional connection when creating an advertisement has become increasingly important. As the public consumption has reached an all-time high, the subconscious has adapted to blocking out many forms of advertising to the point where brand recognition is comparable to breathing for our younger generations. How often do we really remember the advertisements that we see? What captivates us these days? Innovation and emotion are the 2 main factors we recognise in Virgin mobiles Usain Bolt add below.
Over the years, municipal and public facilities such as parks, beaches and sporting facilities have witnessed a decline in government funding which as a result has led to difficulties in conducting maintenance and upkeep.
In order to combat this, properties have historically looked towards donors and more recently, corporate sponsors. This brings up an interesting debate about over-corporatization, with commentators on both sides of the fence making their opinions heard, including prominent personalities like Bill Maher in this video.
A front runner within the wearable side of technologies is Catapult. It has been a breakthrough company with major investors like Mark Cuban, and multinational brands Adidas, Reebok and Nike. This micro-sensor (essentially) is currently utilised by over 300 teams around the globe and it provides a more analytical perspective in “real-time”. When partnered with the visual assistance such as Sport VU. This allows sports scientists access to a full breakdown of the game, player performance, coordination and a series of algorithms quantifying player interactions generated by the raw data.
The Negotiation phase is one of the most critical stages when forming a successful partnership. When you think of the meaning behind Negotiation, some may tend to lean towards the idea of a “win/loose” outcome. This idea may indeed be relevant in the real estate market, automotive sales or company buyouts/takeovers. But when it comes to creating a long term partnership within the sponsorship realm, no matter what side of the table you are sitting on, it is imperative that the “negotiation process” is a discussion utilized to build the strong foundation needed to support the relationship for years to come.
Naming rights occupy the highest point on the sponsorship pyramid and typically carry with them a number of major benefits for all parties included. This is why we will continue to see these investments increase across industry categories, sports and entertainment venues, events and properties around the globe.
Though the origin of naming rights may be debated, certainly a watershed moment in their development was the 1972-73 naming rights agreement between Rich Products, a Buffalo food manufacturer, and Erie County which enabled the former to put its name on a new football stadium in Orchard Park, New York, the home of the National Football League’s Buffalo Bills. The agreement called for Rich Foods to pay $1.5 million over 25 years in exchange for signage at the stadium and a commercial association with the franchise.
Brands have been paying athletes to promote their products since Babe Ruth endorsed Red Rock Cola back in the 1930’s. What about our favorite sports teams? They themselves are also brands, and they don’t need to contract celebrities to endorse their brands. These celebrity sports fans are just that, “fans” they aren’t paid to cheer on their favorite team. But what do the teams get out of this 0.001% of extremely influential supporters? Here are some examples of the type of universal exposure some of our favorite NFL teams have received from a few of today's pop culture icons.
How would data gathering help sport marketers and naming rights holders? Firstly, it would help in seamlessly matching the audience to the right consumer segments. For example, if a basketball arena attracts both first time and luxury car buyers, the right data can help in determining who’s who and help the brand create targeted initiatives for each segment.
This paradigm shift requires sponsors and sport marketers to rethink their approach to consumer engagement. Gone are the days that just slapping a logo onto a jersey or on the sidewalls, brands now need to go beyond to appeal to a consumer’s deeper need states. Passion for a sport or a team may not translate into passion for a brand unless there is an overlap between the consumer’s values and the brand’s values.
Relevant to the fans and should be real-time. Modern fans want everything ‘in the now’ and the content should reflect that. That being said, it should be relevant to what they desire to know. The content should help them be a more complete fan and should help them show their friends and family that.
Sports Marketing through the medium of large-level Sponsorship and Naming Rights, has proven to be a successful endeavor for many brands around the globe. Focusing further, successful Sponsorship trends within select industry categories has been something BWA has kept our eye on, to help understand the future of this industry and to provide our clients with the most up-to-date consultation.