Many sports brand companies opt for sports sponsorship because it is one of the most effective ways to get their brand the right amount of publicity and exposure. As a result, sports sponsorship has become more than just collaboration between business corporations and sports leagues. Sports brands get their names prominently displayed in sporting events or on the back of an athlete’s uniform in exchange for money.
Many factors generally influence the effectiveness of a sports sponsorship deal. Sometimes, a large amount of money spent cannot guarantee success. However, by identifying the key factors that may increase the chances of product image enhancement, an investor can successfully plan out their marketing strategy through a sports sponsorship program.
Many sports brand companies nowadays find sports sponsorship one of the best ways to market their brand name. Sponsoring a major sporting event or an athlete in a game can help them reach their potential customers and loyal patrons better. As a result, the Asian sports arena is also becoming the focus of many international sports brands.
This is because there are so many potential and unexplored possibilities in the Asian market. Sports sponsorship benefits both the sports brand company and the event or athlete it sponsors. Of course, the success of sports sponsorship relies on many factors.
Asians generally like winning athletes or teams as much as the rest of the world. Local athletes who have won international sports titles, like Malaysia’s squash darling, Dato’ Nicol Ann David, are often treated as heroes. Therefore, it only makes sense that a sponsorship will probably be more successful if the athlete or team sponsors win.
This is due to public perception. A brand associated with a winning athlete is often perceived as a good brand and vice versa. In reality, the brand in question may be moderate, but associating it with a champion will put the brand differently.
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Sports sponsorship can also guarantee visibility and recognition. When Yonex became one of the major sponsors at the Thomas Cup Badminton Championship, itsrand name was immediately mentioned in almost every game. ThItsogo was found on every banner and maintained international recognition that lasted years.
Although the Thomas Cup only lasted a few weeks, Yonex’s impression in the public eye extends beyond that. Many sports brand companies find these lasting impressions priceless. It is definitely worth spending their money on.
Sports sponsorship programs also usually target a demographic suitable for the product or brand name they wish to expose to the public. This is why many investors believe the sponsoring event should cater to their target niche. For example, if Nike promotes a product that caters to a younger demographic, it is probably not a good idea for them to sponsor older athletes that their target market cannot relate to.
Instead, they will probably get better results by sponsoring an athlete who belongs to their target niche’s age group. Different target groups need to be reached in various ways. Otherwise, the whole point of sports sponsorship would be moot.
Generally, sports sponsorship aims to create optimum exposure for a sports brand company and effectively communicate its message to potential customers. The right approach is necessary to ensure that every single cent spent on sponsorship will bring in more than enough revenue to break even.
Knowing their target market and sports hero, a sports brand company can achieve more than fame and recognition. They can also maintain their reputation as a winning sports brand often associated with prestigious sporting events. That in itself is priceless. Larry Lim is a business writer based in Southeast Asia. He is researching the effectiveness of sports marketing and sponsorship in Asian sports.
