5. Break into a Specific Category
Today's consumers are difficult and expensive to gain. Sponsorship and endorsements allow your brand to overcome major hurdles such as media fragmentation and resistance to change, enabling you to break into a specific consumer category.
Men's habits become harder to change as they grow older. Facing this challenge, brands like Gillette are sponsoring more than 150 athletes around the world to impact the 600 million men who use such products every day.
2. Engage Fans - Reach Millions
You are connecting with consumers at a time of heightened emotional engagement, making them receptive and more open to listen to your brand. It also gives you access to the team or celebrity's fan base, which can be hundreds of millions of fans.
Ferrari is one of the most valuable properties in the world: Counting more than 500 million fans worldwide, it gives partners a privileged platform to gain new customers and engage passionate fans.
1. Brand Visibility - Viewed by Billions
Sponsoring a sport or celebrity will allow your brand to be seen hundreds of times by the audience of the market in which the event is being broadcasted, making it an effective way to fight against media fragmentation.
Events like the summer Olympics, FIFA World Cup and F1 races each have a cumulative audience of more than 2 billion people, making them events which offer the largest brand visibility for their sponsors.
7. Lead Generation - Grow Your Database
Gaining new customers starts with growing the prospective list and generating leads. A sponsorship or celebrity gives you access to millions of direct fans and millions of eyeballs. Those can in turn grow your database for sales prospects, CRM and online or social media, allowing you to design innovative sales programs.
Brands design sales incentive programs centered around the sponsorship, encouraging their customers to buy their product for a chance to win an official sponsor gift.
3. Co-Branding - Leverage the Partner's Values
Associate your brand with the values of your partner or spokesperson, reinforce your existing values, or shift the perception of your brand.
Manchester United, which is famous for its "strive for perfection" motto, has been able to attract major brands like Chevy who want to be associated with a history of such values.
8. Promote CSR & Charity Initiatives
A celebrity spokesperson is a great way to bring attention to your charity or CSR initiatives and create positive PR. While major US-based companies are already familiar with this concept, it is gaining rapid momentum in other markets as well. Sport teams also have their own charity initiatives which you can partner with.
Samsung's "Hope for Children" is a corporate giving program which holds an annual gala where VIPs are invited. The event creates tremendous PR for the company and helps raise significant funds for the program.
4. Fastest Way to Build Your Brand
The signature of a new partnership brings immediate PR attention. Sustaining this peak awareness with continuous development of valuable content and strong activation across all platforms leads to growth in sales.
Red Bull's strategy is centered around sport sponsorship and celebrity endorsement. Despite fighting government regulations in Europe and competing in the ultra-competitive non-alcoholic beverages category, they managed to become one of the most successful brands in the world in less than a decade.
9. Build Internal Loyalty - Attract Talent
A sponsorship or celebrity endorsement will create strong excitement within your employee base. It will motivate and unite them, building internal loyalty. It will also make your brand more appealing in order to attract the best talent.
The partnership between Aon and Manchester United is rooted in shared values such as teamwork, integrity and the pursuit of excellence. Various activities are organized globally by Aon to build loyalty within the employees and create team spirit.
6. PR Platform - Tell Your Story
From the day you announce a new partnership, media will start reporting and writing about your company and its initiatives. Sports and celebrities give your brand unique access to the media community and the opportunity to tell your story.
A typical Formula One race brings more than 200 accredited journalists from leading news agencies, local and international newspapers, lifestyle magazines and sport reporters, giving sponsors many platforms to meet the press and organize publicity stunts.
10. Create Exciting Content
In a time of media fragmentation and over-exposure, it has become critical for successful brands to create innovative and exciting content that will captivate the audience. Sponsorship and celebrities allow you to develop unique content that will stay in people's memories forever (we each can relate to a few personal examples).
The Super Bowl every year brings some of the most creative content developed around celebrities and sports. The whole world is watching and the advertisements are almost as highly anticipated as the game itself.
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