What is Sports Sponsorship? Definition of Sports Sponsorship, Sports Sponsorship Meaning and Concept
Sports sponsorship is a marketing strategy based on the advertising or patronage of clubs, people or sporting events that, due to the impact they have, the product or service that is sold reaches a very wide and heterogeneous public.
Companies and brands bet on the world of sports to make themselves known. It is a very successful market that moves a lot of money.
Sporting competitions such as the Olympic Games, the NFL final or football teams displaying advertising on their jerseys become excellent channels for disseminating this entertainment industry. Sports sponsorship is also an ideal communication tool for those brands that seek to link their image to the values that define sport.
How does a sports sponsorship work?
Under this marketing action, the athlete or club receives an economic endowment, personalized services or professional advice . In exchange, the sponsor (the company or brand) acquires the promotional rights to carry out marketing strategies associated with the image of the protagonist (club, athlete or event).
Sports sponsorship itself is not a marketing channel, but a communication platform for a brand with multiple points of contact with the consumer. Hence, well-spent advertising achieves higher returns on investment, as well as better alignment with the sponsoring brand and greater commitment to the target audience.
What goals does the sports sponsor set?
There are several objectives of the sports sponsor:
- Promote the image of the company so that it is perceived positively and progressively by the public.
- Increase brand exposure in various types of channels and increase public relations. More visibility in general for the company.
- Build brand value for the company. Something essential for it to become a safe market value for users.
- Achieve a favorite perception of the potential public through social sponsorship. Position yourself as the favorite brand by consumers.
- Increase sales of a product or service. An event always has a goal. Selling products or services are irrefutable missions to be achieved by any company.
- Achieve an image transfer by which the values of sport are associated with the sponsored brand. Provide a positive relationship that adds value to the brand thanks to something that usually has a great impact on society, such as the sporting aspect.
How to use sports sponsorship effectively
Here are some ways to do it:
- Increasing exposure and awareness through high-profile media rights to demonstrating a positive role in society by creating community programs that can engage audiences that are difficult to reach through other means.
- Access to sports talent can be used to create collateral and content that can be distributed through multiple channels.
- The right to use brands and logos on products and promotions can be a key differentiator.
Building a solid and effective sports sponsorship strategy becomes a complex process that requires a complete analysis and investigation of key aspects reflected in an adequate proposal.
The common values between the patron and the club or athlete must be studied so that both can take advantage of the shared brand positioning. In this way they will obtain a joint benefit.