When you invest in any type of marketing program, zooming out to understand the full scope of what you can do with it right from the start can be extremely valuable. While running digital ads and accessing traditional media still plays an important role, sponsorship brings your brand to life and gives you access to an entirely new platform. You just need to make sure it is the right one for your brand.
We regularly defy the myth that sponsorships end with branding or a logo on a car. In fact, some of our best work happens well behind the scenes by connecting marketing to business objectives and results, with no logos to even be seen. That's why we believe sponsorship can be an integral part of your marketing strategy and it doesn't require your entire marketing budget. You can treat it as strategic supplement to your existing promotional strategy, including the work you are doing in digital and broadcast.
It's a mindset shift to use sponsorship as a tool to give you access to a platform. That platform is the place where you can engage your audience in a refreshing and exciting way, often times becoming more genuine in the process. The work of activating your brand in sports and entertainment is much different than running ads or other more traditional promotions. With rights holders and properties becoming much more available to sponsors as times continually evolve, brands have more opportunities than ever to bring their brand to life. Formula One is a good example of a sport actively recognizing the changing environment, and working to become a more valuable platform for sponsors.
Maximizing the value of the platform
Start with on-site, but understand there is more to it
Your on-site and "live" work is central to your success. This will come from what you do at-track, or near the event that you are sponsoring. Do this right, and organic engagement will continue to perpetuate across social media and around the event. While it is important to nail this aspect of your sponsorship activation, it isn't the only thing to focus on. In sports and entertainment, there are still three other degrees to consider that will broaden your access to different audiences.
Test and learn, find the ideal balance, and grow where the success comes from
There is no reason to put all of your budget in one basket straight from the start. This approach carries massive risk, and limits your flexibility as a brand to engage the ever-changing habits and preferences of customers. So start small, be targeted, keep track of what you want to see, and try different mixes of assets throughout the sport. After 6-12 months of activity, review and see where you have seen the success came from. Grow toward it organically.
Ready to get hands on? Check this out.