There's no I in 'team', but there are five in 'individual brilliance', and Nielsen has come up with five strategies to help you win at sports marketing investment.
According to PriceWaterhouseCoopers, the Asia Pacific sports market was worth about $US12 billion ($A14.6 billion) in 2014, and with the Australian Open, Cricket World Cup and Asian Cup all coming up within two months of the new year, the Australian sporting market is set to busy as ever.
Nielsen says the Asia Pacific sports sponsorship is looking positive in the short to medium term, but it's warning against taking a scatter-gun approach to sports marketing and sponsorship, saying there were opportunities for brands to get involved if they're smart about it.
With companies putting down millions of dollars on everything ranging from stadium naming rights to uniform design, getting it right is as important now as it has ever been with high-stakes meaning high risk if not done correctly.
The Going for Gold: Five Strategies to Win at Sports Marketing paper has outlined five key strategies brands should be aware of:
Align with broader business plans
Any new investment should mesh with existing business goals and align with broader business objectives.
The aims of a sponsorship vary over time, and marketing teams should focus on a measurement approach that includes at least three metrics: reach, resonance (or how consumer perceptions will change as a result), and reaction.
Find the right event
Sports audiences have deep emotional affiliations and audiences can overlap. Indentify who the sponsorship will actually reach and augment the strategy for harder to reach consumer groups. Be aware that audiences change and mature, which will impact on a long-term sponsorship deal.
Reach out efficiently
Sports events can appeal to a broad demographic, so it’s important to undertake a market segmentation and to consider using technology to deliver communication.
Keep the party going
Interacting with fans during the tournament is important, but building positive sentiment over the long term should be the ultimate goal.
Sponsorship activation activities should reflect the event’s positioning and ideals to generate positive reactions. Think about how technology or music, for example, helps enhance an audience’s experience.
Measure and review
When calculating the investment, wherever possible, centre on a hard metric for the core audience and not the entire brand.
This approach provides a more precise result when determining return on investment.
For more stories:
The little guys to get a look in on V8 action
Socceroos samba in Brazil without major sponsor
Have something to say on this? Share your views in the comments section below. Or if you have a news story or tip-off, drop us a line at adnews@yaffa.com.au
Sign up to the AdNews newsletter, like us on Facebook or follow us on Twitter for breaking stories and campaigns throughout the day. Need a job? Visit adnewsjobs.com.au.
Have something to say on this? Share your views in the comments section below. Or if you have a news story or tip-off, drop us a line at adnews@yaffa.com.au
Sign up to the AdNews newsletter, like us on Facebook or follow us on Twitter for breaking stories and campaigns throughout the day.