George Draper discusses Sports Partnerships and their influence on Brand Awareness.
Sports partnerships are not a new phenomenon, but in an age in which marketing is a core part of building a brand, they are proving to be more valuable for both brand and player than ever before. We are all familiar with the idea of sponsorships in every sport, from popping a logo on a uniform in Football to the intense involvement through resource provision in F1, but are we all aware of just how much influence these partnerships can have on brand awareness? Find out more about this below.
Benefits for The Brand
Brands do not sponsor players out of the good of their heart, at least not entirely. By sponsoring leading or promising players, they are slapping their logo and brand right on a uniform, car, pitch, or any other piece of equipment, depending on the sport. From cryptocurrency firm eToro sponsoring Gael Monfils to the new partnership between Honda and Red Bull in F1, sportspeople and fans alike are being introduced to new partnership between Honda and Red Bull in F1, sportspeople and fans alike are being introduced to new alliances and industries frequently. Still, this is the perfect opportunity for these leading brands to build a better brand image for themselves and promote healthy consumer relationships.
They are not just plastering their brand over a player; they are building up a rapport. By providing ongoing sponsorship support, especially during big seasons and intense times within the game's season, they are helping aid up and coming stars and sporting masters through their season. They are given an influential spokesperson, opening up their brand to an entirely different market.
Benefits for The Player
It was worthless to the players if there was not something 'in it for them. Sponsorship often allows up-and-coming players to take a step back from having to work to earn money and put more of their time and energy into training, ultimately improving their chances of making something of themselves. While the obvious benefit would be money, players can benefit from awareness publicity and, in some cases, can even see their career go from amateur to pro.
In the case of teams, sponsorships benefit by getting hold of funds and resources to travel, compete in top events and even expose the team to further publicity on some scale. Without these sponsorships, teams can often be low on resources, lack the money to move around stadiums or courts, etc.
Are There Any Challenges?
Of course, as with anything, there are challenges that sports partnerships can face. It can be from inflexible contracts that can leave either the brand or sportsman stuck within a deal that may not benefit either side. The simple fact is that sports sponsorships only seem to reach particular generations directly. There are limitations with this form of marketing that brands are starting to pick up on quickly.
Sports partnerships have the potential to change sports and sports stars as we know them. Brand awareness is vital for businesses, but when sponsorships take a step too far towards celebrities, this can harm the player and the brand.
There is no denying that this form of marketing is still prevalent today, but brands may need to start looking for ways to bypass and overcome the challenges at hand. What do you think?
If you quote information from this page in your work, then the reference for this page is:
About the Author
George Draper is a Content Marketing Executive with Absolute Digital Media.