The Importance of Sponsorship in Sports Marketing: How to Choose the Right Athlete or Team
Sponsorship in sports marketing isn't just a one-way financial boost.
It’s a symbiotic relationship that if leveraged correctly can act as a career catalyst for athletes, and a potent tool for brands to connect authentically with their target audience. This is particularly relevant for tier-2 athletes and in women's sports, where there is immense untapped potential.
This article is a step-by-step guide aimed at brands, and professional athletes who may not be at the very top of their game but are in need of commercial marketing guidance. We delve into the principles of sports marketing, explore how to choose the right sponsorship, and examine real-world cases. By the end, readers should have the tools and knowledge to approach sponsorship decisions objectively, thereby nurturing fruitful partnerships.
Sports marketing is the use of sports to sell and promote goods and services. It is multi-faceted, with sectors like merchandising, media, event marketing, and sponsorships playing integral roles. For tier-2 athletes, strategic sports marketing can provide exposure, open new opportunities, and build their personal brands. On the other hand, brands can reach passionate fans, boost their image, and increase sales1.
Understanding Sponsorships: Brands Perspective
For brands, sports sponsorships can elevate their reputation, build brand loyalty, and reach new audiences. Successful sponsorships are more than just a logo on a jersey; they align with a brand's ethos and goals. For example, Nike’s long-standing sponsorship of Serena Williams isn't just about brand exposure but also about championing gender equality, which aligns with their corporate message2.
Understanding Sponsorships: Athletes Perspective
For athletes, sponsorships can offer financial support, increased visibility, and the opportunity to forge meaningful relationships with brands. However, it's crucial to choose sponsorships that reflect their values and aspirations. Maria Sharapova's partnership with Porsche is a prime example of a well-aligned sponsorship; her personal brand aligns seamlessly with Porsche's luxury image3.
How to Choose the Right Sponsorship: A Step-by-Step Guide
A clear understanding of your values and goals forms the bedrock of a successful sponsorship.
Assessing Values and Goals
This is because they create alignment, foster genuine connections, and ensure that the partnership reflects positively on both parties. Athletes need to identify and articulate their personal brand - what they stand for, what matters to them, and their long-term aspirations. Brands, on the other hand, should identify what they aim to achieve from the partnership, be it brand visibility, enhancing brand image, reaching new target markets, or supporting a cause. Action: Dedicate time to introspection, write down your values and goals, and use these as the foundation for your sponsorship discussions.
Evaluating Potential Partners
Once your values and goals are clear, the next crucial step is to find a partner who aligns with them. The importance of this cannot be overstated; an ill-suited partnership can negatively affect a brand's image and an athlete's reputation. Athletes should therefore consider which brands align with their values and which brands' target audience they resonate with. Similarly, brands should identify athletes whose values align with theirs and who have a connection with their target demographic. Action: Research potential partners extensively. For brands, this might mean following athletes on social media to understand their persona. For athletes, it might mean studying a brand's past sponsorships, corporate culture, and public messaging.
Establishing a Relationship
Establishing a genuine relationship with your potential partner is a vital step that sets the tone for the entire partnership. It involves open communication about your expectations, roles, and the resources you can bring to the table. This initial dialogue can reveal potential deal-breakers and synergies, ensuring a smoother partnership down the line. Action: Schedule face-to-face meetings or calls, share your values and goals openly, discuss potential challenges, and listen actively to your partner's viewpoint.
Crafting a Deal
Sponsorship deals should be crafted to benefit both parties. The deal should detail the responsibilities, rights, and compensation for both the athlete and the brand, leaving no room for future misunderstandings. It is also here that the specifics of the sponsorship such as duration, financial terms, and obligations are negotiated and defined. Action: Involve legal counsel to ensure your interests are protected. Be prepared to negotiate and find mutually beneficial solutions.
Maintaining the Relationship
A sponsorship is not a one-off agreement, but a long-term commitment. As such, maintaining the relationship is as important as establishing it. This involves regular check-ins, transparency about any changes in your professional situation, and openness to adapting the sponsorship as needed. It's important to remember that the success of the partnership lies in its ability to grow and evolve over time. Action: Set up regular communication, be open about your experiences, share updates about your professional journey, and stay receptive to feedback and adaptation
Here are some real-world examples can illustrate the power of well-chosen sponsorships….
Consider the partnership between Arsenal Women's Football Club and Mastercard. The deal not only brought financial support for the team but also boosted Mastercard's image as a brand committed to elevating women's sports4. Similarly, track and field athlete Dina Asher-Smith's partnership with Nike was a perfect match. Dina's athletic prowess and personal values aligned well with Nike's commitment to excellence and individuality5.
How about an exercise for you to try?
Reflecting on your own situation can be helpful. As an athlete, what do you stand for? Which brands align with your values? If you're a brand, what audience do you aim to reach? What kind of athlete would resonate with that audience?
The landscape of sports marketing is complex, but the rewards of well-crafted sponsorships are worth it. By removing ego and adopting an objective approach, brands and athletes can forge partnerships that are not only financially rewarding but also fulfill shared goals. Remember, the most successful partnerships are built on shared values, transparency, and mutual respect.
Ready to make informed sponsorship decisions? Want to understand more about how this process can be applied to your specific situation? Reach out today for expert guidance.
References
Footnotes
Smith, A. (2012). Introduction to Sport Marketing. Routledge. ↩
Nike News. (2019). Serena Williams: Champion, Activist & Designer. [Online] Available at: https://news.nike.com/news/serena-williams-design-crew-2019 ↩
Porsche Newsroom. (2013). Maria Sharapova becomes Porsche brand ambassador. [Online] Available at: https://newsroom.porsche.com/en/company/porsche-maria-sharapova-brand-ambassador-tennis-wta-premiere-stuttgart-911-carrera-4s-cabriolet-tennis-grand-prix-5998.html ↩
Arsenal News. (2020). Mastercard partners with Arsenal Women. [Online] Available at: https://www.arsenal.com/news/mastercard-partners-arsenal-women ↩
Nike News. (2019). Dina Asher-Smith: Fastest Woman in British History. [Online] Available at: https://news.nike.com/news/dina-asher-smith ↩
