B2B relations in sports. Sports sponsorships
Posted: Tue Dec 03, 2024 6:10 am
Nowadays, it is impossible to imagine a major sports entity or a major event or sports league without a list of sponsors or advertisers who want to be present alongside them. In fact, it is something so established in this sector that it is increasingly common to read the news of a major transfer of a player to a team, and at the same time to read the status of the negotiation of some major sponsorship.
Values
Effort, improvement, perseverance, teamwork, planning… are values that will give a good image from a corporate point of view, and the association of a brand with these values is something that this type of agreement always offers. Sport also takes advantage of a very important factor such as the emotional one: it represents unity, equality, passion or loyalty. It is easy to think that a fan who loves his team will end up having, at least, a certain sympathy with the brand that is always there, next to his shield or favorite event. In addition, these values are applicable to any business category: Sports, Banks, Luxury, Communication, Tourism, among others.
It may seem that in this commercial process the sponsor will have control when deciding to invest in a sports sponsorship. While it is true that, as in any B2B commercial process, the client has the power to decide, from the point of view of the potential sponsor it will often be critical for them to take advantage of the window of opportunity that is generated when a potential sponsor begins the search for its supplier.
How are these relationships built? In search of the ideal Partnership
Many of us have asked ourselves questions like: Is the amount of money invested just to appear on the band at a stadium really worth it? What good will it do for the brand to dress a player from a sport that is barely vp maintenance email lists seen on television? Is sponsorship really worth it? Questions like these must be asked by any entity, league, tournament or representative who wants to get a good sponsorship deal. In this way, they can begin to act proactively with target accounts (sponsors), and thus balance the power relationship in this B2B process.
In this particular B2B relationship, in which from the outside it seems that the client (sponsor) is the first interested party, we cannot forget that they also have a wide range of possibilities , and therefore we must take into account certain keys that will allow us to create a positive and lasting relationship between both parties.
To begin with, as in any B2B transaction, a correct definition of the ICP (Ideal Customer Profile) by those interested in being sponsored is vital when it comes to finding their ideal sponsor. An initial segmentation by activity, for example, will surely help us to more clearly identify sectors that are more conducive to this type of agreement. Of course, it will also depend a lot on the geographic scope of the business operations of the potential sponsors, taking into account the degree of reach that the sponsored party could offer. In another article on the Blog we already discussed the importance of B2B Segmentation and Targeting . We saw other factors to take into account that are specific to any B2B segmentation plan, and that apply equally in this search for potential sponsors. Analysis of the economic conditions, type of market they are targeting, needs they are seeking to cover, and, in this case, as it is a relationship in which a benefit is sought for both parties, we also look at what needs the sponsored party can cover.
Sponsorship as a marketing plan
Until recently, a sponsorship agreement might have been based (on the part of the sponsor), for example, on simply appearing as visible as possible at the most important event on the calendar, which is ultimately nothing more than satisfying a specific need. Of course, being well positioned on a stadium billboard, a t-shirt, or for a week getting a good spot inside a tournament venue is something that every sponsor wants, however, the sponsor cannot expect to measure the impact of this action, or expect great returns just for appearing. This is just the beginning, and this is something that the sponsored party must be aware of, also offering a personalized program for them.
For any brand, sponsorship must cease to be a mere advertising action, and must become a communication plan channeled through the universal language that sport represents, which operates as a link in society, taking advantage of its wide reach, and the ability to adapt to multiple types of messages . The sponsored party must act together with its sponsor to mutually increase its value proposition, and all of this to reach the final objective, which is to achieve greater turnover within its business model. As in any B2B environment, it is already understood that there is no better result than customer loyalty, so the personalization of the service obtains a degree of great importance.
Relationship based on personalization. Activations
This relationship must be based on a customer-centric culture, in which the sponsored party must put the customer at the centre of all business done with them, putting them at the centre of all their activities or activations. In these cases, it can be quite a challenge to put their sponsor as the protagonist, taking into account, to begin with, that they may not be the only one, or they may not be the main one, but this can be achieved based on that communication and personalised sponsor-supplier relationship. In any case, it is essential to achieve a level of satisfaction that can lead the sports entity to retain its sponsoring client.
To do this, the sponsored party must first be clear about what the sponsor hopes to achieve: do they want to become known? Do they want to fill their business with visitors? Do they want to generate an increase in traffic to their website? Do they need to build customer loyalty? Based on these objectives, the sponsored party must support the sponsor and seek to be the appropriate channel through actions that make sense for both parties and that lead them towards their goal. For example, it would not make sense to direct the activations of a local garage brand and another of an international bank in the same way. Knowing their value proposition and objectives will make it much easier to create a B2B marketing strategy on which to base these activations.
When we talk about activating a sponsorship, we are referring to the implementation of a series of previously agreed marketing actions with the aim of increasing the total return on investment of the operation. Activations can have an objective of internal/external loyalty, brand activation (boosting brand awareness among its target), or business activation (direct monetization, mainly through sales). Within what could be an ideal activation, it must have a meaning for both the brand and the sponsored party, so that each action jointly adds to both value propositions.
Values
Effort, improvement, perseverance, teamwork, planning… are values that will give a good image from a corporate point of view, and the association of a brand with these values is something that this type of agreement always offers. Sport also takes advantage of a very important factor such as the emotional one: it represents unity, equality, passion or loyalty. It is easy to think that a fan who loves his team will end up having, at least, a certain sympathy with the brand that is always there, next to his shield or favorite event. In addition, these values are applicable to any business category: Sports, Banks, Luxury, Communication, Tourism, among others.
It may seem that in this commercial process the sponsor will have control when deciding to invest in a sports sponsorship. While it is true that, as in any B2B commercial process, the client has the power to decide, from the point of view of the potential sponsor it will often be critical for them to take advantage of the window of opportunity that is generated when a potential sponsor begins the search for its supplier.
How are these relationships built? In search of the ideal Partnership
Many of us have asked ourselves questions like: Is the amount of money invested just to appear on the band at a stadium really worth it? What good will it do for the brand to dress a player from a sport that is barely vp maintenance email lists seen on television? Is sponsorship really worth it? Questions like these must be asked by any entity, league, tournament or representative who wants to get a good sponsorship deal. In this way, they can begin to act proactively with target accounts (sponsors), and thus balance the power relationship in this B2B process.
In this particular B2B relationship, in which from the outside it seems that the client (sponsor) is the first interested party, we cannot forget that they also have a wide range of possibilities , and therefore we must take into account certain keys that will allow us to create a positive and lasting relationship between both parties.
To begin with, as in any B2B transaction, a correct definition of the ICP (Ideal Customer Profile) by those interested in being sponsored is vital when it comes to finding their ideal sponsor. An initial segmentation by activity, for example, will surely help us to more clearly identify sectors that are more conducive to this type of agreement. Of course, it will also depend a lot on the geographic scope of the business operations of the potential sponsors, taking into account the degree of reach that the sponsored party could offer. In another article on the Blog we already discussed the importance of B2B Segmentation and Targeting . We saw other factors to take into account that are specific to any B2B segmentation plan, and that apply equally in this search for potential sponsors. Analysis of the economic conditions, type of market they are targeting, needs they are seeking to cover, and, in this case, as it is a relationship in which a benefit is sought for both parties, we also look at what needs the sponsored party can cover.
Sponsorship as a marketing plan
Until recently, a sponsorship agreement might have been based (on the part of the sponsor), for example, on simply appearing as visible as possible at the most important event on the calendar, which is ultimately nothing more than satisfying a specific need. Of course, being well positioned on a stadium billboard, a t-shirt, or for a week getting a good spot inside a tournament venue is something that every sponsor wants, however, the sponsor cannot expect to measure the impact of this action, or expect great returns just for appearing. This is just the beginning, and this is something that the sponsored party must be aware of, also offering a personalized program for them.
For any brand, sponsorship must cease to be a mere advertising action, and must become a communication plan channeled through the universal language that sport represents, which operates as a link in society, taking advantage of its wide reach, and the ability to adapt to multiple types of messages . The sponsored party must act together with its sponsor to mutually increase its value proposition, and all of this to reach the final objective, which is to achieve greater turnover within its business model. As in any B2B environment, it is already understood that there is no better result than customer loyalty, so the personalization of the service obtains a degree of great importance.
Relationship based on personalization. Activations
This relationship must be based on a customer-centric culture, in which the sponsored party must put the customer at the centre of all business done with them, putting them at the centre of all their activities or activations. In these cases, it can be quite a challenge to put their sponsor as the protagonist, taking into account, to begin with, that they may not be the only one, or they may not be the main one, but this can be achieved based on that communication and personalised sponsor-supplier relationship. In any case, it is essential to achieve a level of satisfaction that can lead the sports entity to retain its sponsoring client.
To do this, the sponsored party must first be clear about what the sponsor hopes to achieve: do they want to become known? Do they want to fill their business with visitors? Do they want to generate an increase in traffic to their website? Do they need to build customer loyalty? Based on these objectives, the sponsored party must support the sponsor and seek to be the appropriate channel through actions that make sense for both parties and that lead them towards their goal. For example, it would not make sense to direct the activations of a local garage brand and another of an international bank in the same way. Knowing their value proposition and objectives will make it much easier to create a B2B marketing strategy on which to base these activations.
When we talk about activating a sponsorship, we are referring to the implementation of a series of previously agreed marketing actions with the aim of increasing the total return on investment of the operation. Activations can have an objective of internal/external loyalty, brand activation (boosting brand awareness among its target), or business activation (direct monetization, mainly through sales). Within what could be an ideal activation, it must have a meaning for both the brand and the sponsored party, so that each action jointly adds to both value propositions.