I was sitting at an Akron Aeros (AA affiliate of the Cleveland Indians) baseball game the other night when a hitter broke his bat. Shortly after he was thrown out at first (and the pitcher danced out of the way of the jagged bat head), the PA announcer said, “That broken bat was brought to you by MDF Bats. For major league quality bats…” Seriously.
Sponsorship opportunities are virtually limitless.
Sponsorship opportunities abound around nearly every turn, from sports to events and beyond. Some companies will do anything to see their name in lights while others question the ROI (return on investment) of such a commitment. Does your company utilize sponsorships as part of your marketing mix? How do you gauge success?
My association with sponsorships started young although I didn’t realize it at the time. No, my parents didn’t sell my forehead space to a company for $XXX. As most t-ball and little league players, my team was sponsored by a local company (which basically meant paying for the shirts. If they splurged for ice cream once in awhile after a game, that was a bonus). Of course, I didn’t think of the company as a sponsor; it was just a name on the front of my shirt (which was usually covered in enough mud or dirt to wipe out any exposure on my end). Hey, I was a catcher.
In high school, I became seriously interested in racing, especially NASCAR. Anyone familiar with the popular racing series knows that sponsors are essential to the sport today. That led to seeking sponsors for charity and/or non-profit events which eventually spilled into my marketing and event planning position where finalizing sponsors for our events was vital.
Companies measure the ROI (return on investment) of sponsorships in different ways and some don’t measure them at all.
So maybe I’m biased, but I believe that sponsorships can really pay off if they’re a good fit and are marketed correctly, preferably on both sides. Speaking of the Aeros, I became familiar with my current HVAC company, Blind & Sons, due to their sponsorship of the team. Also, I recognized at some point that I patronized sponsors of NASCAR drivers I liked without even realizing it. Apparently most NASCAR fans do… According to studies, NASCAR fans buy over $3 billion of licensed products annually and are 3 times as likely to try and purchase sponsors’ products and services. In fact, NASCAR fans are considered the most brand loyal in all of sports. [Source: Race Day Sponsor]
As someone who solicited sponsors, I always tried to ensure the companies I worked with received as much value and exposure as possible. I also tried to target companies who were a good fit for a particular opportunity and would market the sponsorship on their end as well. To me, those were the sponsorships that made everyone happy.
So, have you worked with a company you noticed through sponsorship? If so, what were the results? (As the saying goes… you can have the best marketing in the world, but if the product or service doesn’t live up to expectations, ultimately it doesn’t matter.) I have worked with companies found via sponsorship and sold companies successful sponsorships, so I’m a believer in the process, if handled correctly. Besides, who can resist their name in lights?
I would love to hear your thoughts and experiences on sponsorships as a buyer or sponsor.