Sports sponsorship is a popular way for brands to promote their brand. Sports sponsorship is more than just collaboration between business corporations or sports leagues. Sports brand companies can have their logos prominently displayed at sporting events and on the back of athletes’ uniforms in exchange for money. Many factors influence the effectiveness of a sponsorship deal for sports. Sometimes, even a large amount of money cannot guarantee success. An investor can plan their marketing strategy for a sponsorship program through sports by identifying key factors that could increase product image enhancement.
Sports sponsorship is a popular way for sports brands to market their products. Sponsoring an athlete or major sporting event can help them reach more customers and loyal patrons. Many international sports brands are now focusing on the Asian sports arena. Because there is so much potential in the Asian market, and many unexplored opportunities. Sponsorship of sports events or athletes is a win-win situation for both the sponsoring company and the brand. Sports sponsorship is a complex endeavour that depends on many factors.
Asians enjoy winning teams or athletes as much as the rest. Many treat local athletes who win international titles, such as Data’ Nicola Ann David’s squash title in Malaysia, as heroes. It makes sense that sponsorships will be more successful if the sponsoring athlete or team wins. Public perception is the reason. The perception of a brand as associated with a winner athlete is that it is a good one. Although the brand may not be very popular, it will certainly be associated with a champion.
Sports sponsorship can also guarantee visibility and recognition. Onex was one of the main sponsors of the Thomas Cup Badminton Championship. They immediately got their brand name mentioned at almost every match. They are recognized internationally and have their logo on every banner. Although the Thomas Cup only lasted a few weeks, the impact Onex made on the public’s mind was lasting. These lasting impressions are what many sports brands consider priceless. It is well worth the investment.
Sponsorship programs for sports usually target a specific demographic that is compatible with the brand or product they want to promote. Many investors believe that their event should cater to their target market. If Nike promotes a product for a younger audience, they should not sponsor athletes older than their target audience. Different target groups must be reached in different ways. If this happens, sponsorship of sports would cease to be worthwhile.
Sports sponsorship is designed to maximize exposure for a brand and send their message to potential customers. It is important to have the right approach to ensure that sponsorships bring in more revenue than just breaking even. A sports brand company can do more than fame and recognition by knowing its target market and the sports hero. They can maintain their status as a winning brand in sports and be associated with high-profile sporting events.