Sports sponsorships are raising more than just brand awareness
The universal breadth and appeal of sports continues to present brand sponsors with significant upside, both through exposure and how well consumers regard brands’ involvement. Combined, sports activations are doing more than boosting brand awareness—they’re leading to higher conversion rates.
Brand advertising increased throughout 2021, with an increased focus on traditional, mass reach mediums like TV and radio. Along those lines, Nielsen Sports tracked a 107% increase in sponsorship spending globally in the early part of 2021, with activations increasing as global sports continued to rebound throughout the year.
From a fan perspective, the increased investment is likely money well spent, as consumers view brand sponsorships in sporting events as very trustworthy. According to our recent Trust in Advertising Study, only recommendations from people and branded websites rank higher in consumer trust.
Combine the high level of trust with the strong correlation between visible sponsorship messaging and purchase behavior, and brands have plenty to gain. In a recent analysis of 100 sponsorships between 2020 and 2021 in seven markets across 20 industries, Nielsen found that the sponsorships drove an average 10% lift in purchase intent among the exposed fanbase.
The transition from building awareness to conversion speaks to the growing importance of sponsorships throughout the full marketing funnel, and this trend will continue. Nielsen’s experience base shows that on average, a 1-point gain in brand metrics such as awareness and consideration drives a 1% increase in sales. Upper-funnel efforts also generate an array of ancillary benefits that can drive the efficiency of sales activations.
Securing the most out of a sponsorship in terms of additional exposure, tickets, tabling, pricing, logo rights usage and overall effectiveness can be tricky. Let Crosshair Media Placement help negotiate and secure sports and event sponsorships for your business.
Source: Nielsen Sports Sponsorglobe