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Finance Industry Opinion

Returning Investment on Your Sponsorship


Returning Investment on Your Sponsorship


"Regardless of the business or the sector, chances are the main goal will be to attract new customers and generate further revenue "
Lookers



In the modern world we live in, marketing is everything. It truly has taken over and product placement is undoubtedly more prominent now than ever before.  

The aforementioned concept is everywhere we go. On our social media through paid ads, on our television screens, or via the traditional methods, such as billboards.

That said, one way of getting your brand out there, without ramming it down the throat of the general public in a rather tactless way, is to sponsor an event.

Why?

Regardless of the business or the sector, chances are the main goal will be to attract new customers and generate further revenue — this is the lifeblood of most companies across the globe.

Unfortunately, it is becoming continually harder for businesses to be recognised thanks to overbearing market saturation. With traditional forms of advertising, the product is placed in front of the recipient in a direct or subliminal style message. It is then up to the recipient to decide whether that fits the bill.

With event sponsorship however, unlike simply offering up a catchy gambit or jingle, brands are able to create an experience for the recipient.

The Experiential Marketing Content Report produced by Event Marketing Institute reported that 72 per cent of consumers hold brands who “provide a quality event experience” in a positive light. Likewise, the same survey noted that 74 per cent of respondents suggested engaging with said brand who have created such an experience is more likely to make them offer their custom.

Moreover, not only can you directly target your market and better your existing relationship, you can branch out into new, completely untouched territory. For many brands this is an opportunity to make themselves visibility in the wider community, perhaps creating an image of social responsibility.

So, now we’ve delved into why businesses do it, let’s take a look at two companies who do, examining the benefits it has.

Robinsons

Nearly 200 years ago Mr Matthias Robinson invented his infamous patent barley in powder form — a far away from what it exists as now. In 1935, however, the world of Robinsons was to change forever.

Regarded by many as the oldest and most prestigious tennis tournament in the world, founded in 1877, Wimbledon lawn championships exists as the pinnacle of British sport.

While Fred Perry was delivering skill and style on the court, Robinsons were beginning to deliver what would be a long-standing relationship off it.

The fruit juice company created the innovative Lemon Barley Water, to quench the thirst of all the players and to start a sponsorship deal that would last indefinitely. Now, in 2020, 85 years on, Robinsons is still the official drink of the championships.

Considering 9.6 million people tuned into the men’s final on BBC1 in 2019, it couldn’t be considered an ill-partnership for the brand owned by the Britvic company.

Wimbledon has, for its entirety, been recognised as a family friendly, all-encompassing event, something that any brand would be proud to be involved in, and one that would undoubtedly boost their reputation.

Honda

It has become part and parcel of event sponsorship over the years to see big automotive brands backing sports events, perhaps due to a closely linked group of fans.

The issue with doing this, however, is that it limits the sponsorship opportunity options and, similarly, negatively impacts the potential audience the sponsorship is being placed in front of.

One such automotive company who have moved beyond the boundaries of what is expected, however, is Honda. The Japanese automotive brand stepped into the world of e-sports, tapping into an otherwise untouched market, when they became the exclusive automotive partner of the League of Legends Championship Series.

Having partnered up with Team Liquid, one of the teams within the league in 2018, Honda announced its decision to join forces with Riot Games in 2019, backing events in Los Angeles and then the final in Detroit.

Honda went on to mention that it would use the partnerships with Riot Games and Team Liquid “to engage with millennial and Gen Z fans of League of Legends”.

When Team Liquid announced their partnership, Honda provided them with team jerseys, a fleet of branded Honda Civics, and a full range of merchandise.

This follows on from many years of Honda successfully plugging the music scene across the world thanks to their popular Honda Stage.

Here we’ve drew upon examples of a long lasting and rather infant event sponsorship campaign however, there are limitless partnerships across the globe doing exactly the same thing. Whatever way you look at it, this is a mutually beneficial relationship!

Sources

https://esportsobserver.com/honda-sponsors-lcs/

https://getgist.com/connect-with-your-target-market-why-sponsor-an-event/

https://www.eventmarketer.com/wp-content/uploads/2016/05/2016EventTrackExecSummary.pdf

https://www.wimbledon.com/en_GB/atoz/official_suppliers.html

https://www.robinsonssquash.co.uk/about-us/

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