How many individuals do you suspect watch the annual Superbowl or the Olympics? If you were a business, can you imagine how many prospective clients/consumers you could reach by simply advertising at these events? Sports sponsorship is one of the best ways for athletic events to gain the monetary funding they need to put the event together and for companies to advertise their goods/services to a wide variety of potential clients.
Benefits of Sports Marketing
One of the greatest benefits of using sporting events to market products is the ability to reach an immense amount of clients in a short amount of time. One or two commercials or billboards can make a great impression on event-goers and even players. Not to mention, advertising is often relatively low in cost, while generating quite a bit of revenue in return. Of course, advertising in large-scale sporting events will cost more than advertising at local events. However, this is true in any type of advertising, in general.
Disadvantages of Sports Sponsorship
Although using sporting events as a source of advertisement can provide great benefits, it can also fail at times. Therefore, it is beneficial for individuals to acknowledge the potential downfalls of sports sponsorship, so that they can prevent these occurrences. Companies must make sure that the revenue that could potentially be generated from sporting event advertisements is more than the cost of advertisement itself. Otherwise, a company could be out an extensive amount of money. In addition, companies must choose their method of advertisement carefully. One wrong move by a professional athlete or sports team could cost a company thousands, even millions, in revenue. After all, many individuals do not want to monetarily support a company that would stand behind an individual that does not respect the game, other players, or fans.
Tips to Successful Sponsorship
In order to reach the greatest amount of viewers, companies must consider which sporting events at which locations will make the biggest impact. Many companies are now stepping out into the world of foreign advertising in order to gain a global advantage. In addition, advertising at sporting events that support specific companies would be advantageous. For example, advertising pizza at a football game or tires at a race would be beneficial. In addition, the location of the advertisement, the size of the ad, and the time at which it is presented is of utmost importance. During certain times within a sporting event, fans may be less likely to acknowledge a sponsorship message. Therefore, visibility is one of the greatest concepts in creating successful sports sponsorships.
Well-known Successful Sports Sponsorships
Some of the most successful sports sponsorships are those who make their services visible and present a need for fans to acquire these goods/services. National companies, such as Budweiser, Buffalo Wild Wings, and Pizza Hut, are regular sponsors in a variety of mass sporting events. Catchy tunes, quirky phrases, and funny commercials aide in acquiring new clients and increasing revenue through sports sponsorships. You can find out more about Viral Sport Marketing.