The Changing Value of Sponsorship: Recap
2021 Global Sports Marketing Trends
The uncertainty that has come with the pandemic has altered how rights holders sell sponsorships and activate those partnerships. Technological advancements are now driving changes in how consumers work, travel, and socialize. In today’s blog, we’ll be recapping a report done by Nielsen Sports, “The Changing Value of Sponsorship” with a list of upcoming marketing trends for 2021.
New Sponsorships = New Revenue Models
Sponsorship dollars follow the trail of consumer consumption habits, as those habits change so do the revenue models. Corporations are finding new assets in the digital and virtual space to best position their value props with their consumers. One example that shows this well is the growth in sponsorship revenue driven by esports.
Rise of Athlete Influencers
Social media changed the game for corporations and athletes looking to market to their consumers and fans. In this report, Nielsen notes a new trend where both of these parties are combining to share their engagement across social media.
A New Need for Sponsorship Impact Measurement
Digital channels are now increasingly driving the value of sponsorships. Social media and streaming platforms have noticed this change and have taken advantage of it by solidifying their positions as valuable marketing channels. Given the new platforms and increase in consumption, it will be crucial for companies to develop unified measurement systems to determine their brand’s impact.
Digital Events = The Rise of Touchpoints
With vaccines becoming more accessible, we are already seeing the return of in-person events. However, it will be necessary for businesses to continue developing hybrid solutions that combine virtual and digital to provide:
- More fan engagement opportunities
- New personalization options
- New sponsorship assets and revenue models
COVID-19 Driving Sales Impact
The global economy has been severely impacted by the pandemic. According to the Nielsen report, “across product categories, advertising spend is significantly down: travel and tourism (-31%), leisure and entertainment (-29%) and financial services (-18%) are among the sectors hit hardest.” As a result, corporations are becoming increasingly selective and strategic with how they deploy and activate their ad dollars. Sponsorship has emerged as a go-to vehicle for advertisers due to its high penetration rate and deep customizable features.
While sponsorship remains valuable the bubble might pop if advertisers cannot accurately attribute the direct sales driven by their spend. Best.Day.Ever. prides itself on being able to diligently and granularly provide ROI tracking from all of your hospitality assets and activations.
Ensure that your organization utilizes this list of recent trends to continue driving your goals in the right direction. And if you need help along the way… click the button below.