Sponsorship marketing is beneficial for brands that gain name recognition and prestige, and those that are sponsored and get financial support. Sports is one of the biggest areas for corporate sponsorships because there are many different ways sponsors can indicate their support for a team, league, venue, or event.
Here are some of the top strategies for establishing sports sponsorships.
Carefully Consider and Confirm Details
One of the most common problems with sports sponsorships as part of CPG marketing happens when there is ambiguity about what brands get for their sponsorships. It's important to get all the details of the sponsorship terms in writing before you sign anything or many any final decisions.
Once you know exactly what you are giving and getting, you can make sure you are satisfied with the terms and move ahead with it.
Give Something Away
One of the best ways to get into the heads of sports fans frequenting your favorite venue is to give them something for free. While the best free giveaways are the products you want to sell, you can give away items that feature your logo and the logo of the sports team or franchise you're partnering with.
You can also pair a special offer like a coupon or discount with your free sample to encourage those experiencing your product for the first time to become customers. Your loyal fans will appreciate coupons and discounts and be encouraged to purchase again.
It Goes Both Ways in Sponsorship Marketing
Just as you want fans of your sports sponsorship to experience and enjoy your brand and products, you also want to provide opportunities for your existing customers and fans to enjoy the sports experiences related to your sponsorship. It shouldn't be difficult to figure out how to get free tickets to events, sporting merchandise, or other "perk" items you can give to select customers that would enjoy them because they are also fans of the sport being sponsored.
When considering what sport or event to sponsor, you should take into account your customer base and what they are most likely to enjoy in the sporting world. If your customers are primarily female, for example, you may want to sponsor women's soccer or figure skating.
Don't Overlook Esports
Esports is a growing market for CPG sponsorships, both with live events and livestreamed ones. It is possible to reach more people through esports than with some other types of sponsorships, though the cost may be lower. The esports fan base is also enthusiastic and open to interacting with sponsors in new and different ways like voting to control the movements of a bucking couch (as seen in a recent Totinos sponsorship).
Using sports sponsorships to promote your CPG brand can be a valuable part of your CPG marketing arsenal. Keeping these strategies in mind will help you maximize your reach and get the most from sports sponsorships.