Traditional marketing is evolving, becoming more technology based and automated. Metrics rule the day and the efforts to justify the ROI on a marketing campaign are becoming discrete and provable by data points. These changes are taking place across all marketing channels, and the Sports Sponsorship is not immune.
The amount of money that companies are spending on sports sponsorships and endorsements is increasing. The spread of sports across all media platforms over the past decade has expanded the fan base, truly globalizing the reach of the sponsorship opportunity. As marketing trends and media technology continue to evolve, brands are looking for unique ways to reach the consumer. In an age where engagement and conversion are king, Sports Sponsorships become an integral supportive strategy that allows a brand to engage a vibrant, loyal consumer base for their products.
One problem that has always existed in the realm of sports sponsorship and endorsement has been justification. The days of an executive choosing a sport or sports star for a sponsorship or endorsement deal because they are big fans themselves are coming to an end. Every sports engagement must be strategic in nature and measurable to prove the ROI on the efforts.
But how do brands know they are getting the maximum amount of return on their sponsorship investments?
- Measure – Collect all data from all sources, ensure the data is actionable
- Evaluate –Initiate a thorough process that looks beyond the sponsorship and examines its impact on the overall marketing platform.
- Innovate – Step outside of the box and do sports sponsorships in a new way, look at technology partnerships, pilot programs, and anything beyond player meet & greets and photo shoots.
PlazaBridge Group’s Sports Sponsorship Innovation practice provides brands with peace of mind and confidence in knowing that their sponsorship decisions are yielding tangible results that support the brand’s overall revenue growth.
- Analysis – We utilize both quantitative and qualitative data, internally and externally, related to the overall marketing efforts distributed across departments and channels to determine the direct impact that a sponsorship has on a brand’s market share, consumer base, and growth operations
- Strategy – Each move is critical for a brand to gain maximum penetration into a sport’s fanbase. PlazaBridge Group leverages the knowledge and skills of experienced marketers, product managers, subject matter experts, and business intelligence analysts to position your brand to excel in a highly competitive market.