Marketing is a very important aspect which popularizes a brand, promotes the products, influences people, and sports sponsorship and marketing is no exception. Major sporting events are organized in different parts of the world, and it is sponsored by many major companies and brands. Now the limits of sports events have extended throughout the world and marketing attempts through major sporting events have become a platform to showcase the brand name and earn global acclamation. Consumers throughout the world get influenced by the marketing mix of sports. They get swayed by the brand that sponsors their favorite team and players, and therefore the benefits of marketing while major sporting events are numerous.
Mutual relationship between endorser and endorsee
Sports marketing is the way of developing a mutual relationship between various companies or brands and the team or players they sponsor. Many top rated companies of the world are investing in sports nowadays. They venture their investment on a particular team or player with a view that if the team or the player wins, their brand name will also be in the limelight. It’s like bidding on your favorite horse and getting all the stakes after it wins in the race. The sponsors become the official partners for the team or club or player and promote the sports event while the teams, clubs or players highlight the brands when they are playing at their best form. The sports fanatics undergo a psychological identification with their favorite teams or players and may prefer to use the products or brands which are endorsed by their idols. The teams and players, on the other hand, get paid for endorsing that particular brand. So, it creates a mutually beneficial relationship between the endorser and endorsee.
The 4 P’s of sports marketing
Sports marketing also follow the traditional 4 P’s of marketing- Product, Price, Promotion and Place. The first P in this case is a service rather than a tangible product. The service is claimed by the sports fanatics who buy tickets to watch the live action. The second P, i.e. Price in this case refers to the tickets acquired by the sports fanatics, or the price is acquired from the rights bought by any particular television channel which takes the sole responsibility of living streaming. The third P i.e. Promotion refers to the promotional events prior and during the sports event. The advertisements that appear in between live streaming of a sports event in television are also promotional tactics. The last P i.e. place is one of the vital aspects of marketing that refers to the desired positioning of service in the target market. The place of the sports event will determine its popularity and should be reachable by the fanatics.
So, marketing during major sporting events is as essential as marketing required launching a new-tangible product. The most-important goal is to acquire funds from the whole process. Funds received can be used to pay taxes to the government, to pay the salary to the players and the people who associate them, to modernize the stadium, etc.
Advertising is one of the most-important gizmo in the marketing of products and services. Sports advertising is one type of OOH(Out Of the House) advertising method in the form of sponsorship, billboards around the stadium, plaque on players’ jersey, the boundary line of the field, etc. OOH advertising is more effective than television advertising. People tend to ignore the commercials in between the live-streaming of a match in television or flip through the channels at the time of the advertisements while people cannot absolutely ignore the advertisements on the players’ jersey, on the fields, billboards around stadium, below the score-board, etc.
Popularity of sports advertising vs. regular television advertising
Sports are becoming popular day by day and fan base of the team, or player is increasing with the passage of time. Sports fanatics present all over the world psychologically identify themselves with their favorite sports team or players. The brands and products sponsored by the player influence people to a greater extent. Youngsters often chose to follow the brands that are sponsored by their idols (players) and to create hype among their social group. On the other hand, regular television advertisements are often ignored by the viewers because of the monotony of the same advertisement. Sports advertisement, on the other hand, reduces wastage coverage and targets ad messages geographically.
Cost benefits of sports advertising over regular television advertising
- CPM- The CPM(Cost Per Thousand) of sports advertising is much less than that of regular television advertising. Television advertising incurs more cost as it is based on the running time of the commercial advertisement.
- Capital investment- Sports advertising needs low capital long-term costs in the form of sponsorship contract with the team or players or club while the capital cost is much higher in case of television advertisement that is incurred during the production of the advertisement film.
- Revenue- Sports advertising generates revenue faster just after or before the sports event while television advertisements generate less revenue and too after a long time.
- Margin or extent of the advertisement- Sports advertising does not have any limited margin or extent. If a company wants to advertise its brand in the billboards as well as the jerseys, it will be able to do it. On the contrary, the running time for the television advertisement is limited.
Sports advertisement as a mode of OHO helps to build a brand, drives its growth and influences the sports fanatics. It increases the effectiveness of an advertisement in promoting a brand campaign at lower CPMs and higher ROIs in advertising. So, sports advertising is more cost-effective for the company than television advertisements where the company has to pay for the advertisements on a regular basis. Sports advertising inspires a larger group by creating compelling advertisements that people cannot ignore or skip. It reinforces the television messages when the people away from home and enjoying the recreational activity like sports. Thus, sports advertising creates a stronger impact on people’s mind than regular monotonous television commercials and helps in maintaining low CPM and other overall costs.
With the onset of e-learning and e-commerce online deals are the best for advertising and marketing. It is a wide platform to showcase the right the product and bring out the unique features in front of a large audience. The brand no more remains constricted to a specific location or boundary. Anyone who can access the internet can have a look of the advertisement provided it was circulated in a proper manner. Internet is the most-accessed media and reliability in the web media have grown with time. Awards are provided to the best advertisement deals on sports. Online ads make the ad makers more enthusiastic about the work for which they try to improve their own standards, and try to get the finest sports advertising deals online.
Criteria of finest advertising deal online
- Creativity: As there are many options available in the web media the competition to the best among many better options is the prime concern. The more creative and unique message delivered by the advertisement the more the viewership making the deal a great success online.
- Innovation: Ideas does not to be completely new but definitely needs to be out of the box. The day to day syndrome may bring out a creative idea if the presentation is done in an innovative manner.
- Impact: The challenge to create an impact on the mind of the audience is the success of any advertising deal. One might see the ad, but that might not turn into a buy if the advertisement deal is not creating a strong impact on the mind of the buyer.
- Copywriting: The words play a crucial role in any kind of advertisement. The words are like pictures painted through letters and phrases.
Other unique deals
- Sport has less to do with the web and more with the field. But proper use of the web media will enhance the focus of the sports advertisement. Social media is an effective tool in meeting and creating ad campaigns. Sportswear often gets associated with schools by providing outfits. This is effective way of dealing with school students who are a major buyer of the product. At the same time, the brand used by them when comes in the web media will boost their trust upon the brand.
- Launching a mobile application is another way to promote a brand of sport online. The sport that has already gained popularity is to be targeted. A mini and visually attractive mobile application will promote the sport as well as the product.
- Creating a fan page is another way to promote a product and the sport. Through the fan pages in social media websites one can get knowledge about the favorite teams and their latest updates. One can catch up the highlights of memorable games. The social interaction with the team associates will raise the buzz of excitement among fans.
- An email message to the winner of several contests will grow their trust on the sport and the acceptability of deals provided by them. By notifying users about the attractive deals and offers at special occasions hold the existing user or follower of a product or sport.
Olympics being the big awaited game remain successful in spreading its madness all over the world. Worldwide Olympics is celebrated much like a festival. Advertisers thus wish to use this opportunity to the fullest. The ad rates are much higher than the usual slot but still every brand wishes to capture every inch of space-time. There is a high level of competition among advertisers during Olympics. They do not win the medals, but marketing reaches the highest level during the time.
Olympics have been a market of business for any brand. The cost of every space is so high that only high profile brands are successful in being the partner of the Olympics. Global products try to occupy the space of the advertisement to create a global market economy. Though the cost is high, it is all worth when it comes to Olympics. Many brands associate themselves as the food partner of Olympic Games. Offers are available in every brand that gets associated with Olympics. The fan following of the Olympic is shared by the brand itself and that becomes the ultimate motto of the brand. Hence, there are lots of benefits of advertising during the Olympics.
Ways of advertising
- Social networking sites and other popular web pages also charge high rates to put advertisements on their sites as it is the most-beneficial time to attract mass in a global manner. The brand that plans to launch itself worldwide, Olympics is the platform to step forward without a doubt.
- Many brands use the jerseys of the athletes and sports person to promote their brand. This is a part of the marketing strategy. The fan following of a team or individual is used to gain the popularity of the brand. Health related brands try to get associated as the health partner of the Olympics game.
- New strategies are to be made for promotion of a product in the games. The usual ad campaign won’t work in Olympics. A special crisp ad that will stand out among the other ads is to be produced. The audience is targeted but still the ad should be such that withstands the barriers of country and community. An ad campaign that is catchy as well as effective to attract a high number of audiences is to be planned for the Olympics.
- The right game is to be chosen for placing an ad in the game. The perfect time and the spirit of the game will be an important factor to hold the audience.
- A lot of work is to be done when a brand is introduced through the Olympics Game. First the brand is to be introduced to a large audience. When it is on the way, it is to be seen that the advertisement is liked by the viewers. It is advisable to take short survey of the audience reaction. After the audience likes the ad, the bridge can be crossed. The bridge between liking and buy is the real challenge.
- Billions spent on advertisement is not worth if not projected properly. A proper planning and research to execute the plan is to be done before venturing a havoc amount of money in advertising in the Olympics Game.
Advertising is basically done for promotion of a product. For this, it is very much necessary to have the right sponsors who will support the brand financially. As advertising is all about attracting the mass, so the basic concern revolves around how to get competitive advertising deals on sports advertising. To catch the eye balls and attracts people to be part of the brand. A brand name once established stays for a long period in the minds of users as users develop a trust on the brand. Sports marketing involves one of the most-exciting forms of promotion through advertising. While creating a marketing strategy in sports one has to keep in mind to promote both the product and the sport. It is a form of marketing where the brand, as well as the product, can be promoted. A sport is no more restricted to the fields but has transformed into an effective tool in advertising.
Factors affecting a good deal in sports advertising
- Advertisement through sports person: The sports person and the product are inter-related. The image of the player is an important factor that is to be kept in mind while promoting a brand. While choosing the sponsors, the promotion plan of the product is to be presented to the sponsor. The image of the player and their popularity among the mass will itself be an advertisement. The product once gets associated with the name of the player shares the fame and limelight of the player. The player becomes the best deal of advertising of the product. The products that are associated with the player have special categories like financial institutions, sports good, energy drink, etc. that are closely related to the sports person. Sports person are the icon if the society so an association with them is a good form of advertising.
- Choice of sport: Before choosing the player one has to keep in mind the sport they are getting involved with. Each community follows a specific sport. Geographical and climatic conditions are factors that make the sport popular in a particular area. The craze of the crowd is to be accessed before making a plan of promotion. The field in which the investment is to be done is to be examined to know the requirements of the mass.
- Choice of the team: One has to do a proper research of the teams to know their winning and popularity quotient among the mass. Big brand names wish to get involved with teams that have good and constant performance. Brands often plan to sponsor the team jersey by putting the logo of the company on the jersey worn by the players. The team’s performance will enhance the popularity of the brand. The focus created through the team will advertise the brand.
Make wise deals: When one is getting associated with a name, team or sport it is for a long period. Make the plan such that it becomes sustainable. Random change of association will cause harm to reputation of the brand.