Going for Gold: Research Can Help Investments Pay Off in the Winter Games
08 Mar 2018 4:26 am by Megan Burnside
Every four years, the world turns its attention to the winter or summer games, hoping to be inspired by stories of struggle and strife, triumph and personal success. This also means that global brands are ramping up to spend advertising dollars in the hopes of achieving a myriad of goals: better awareness, higher stock value, increased sales or improved reputation. But, investing in campaigns connected to the games doesn’t always produce results.
In fact, according to a recent study done by digital marketing agency Greenlight, sponsoring the games can be a mixed blessing for brands. According to the study, only 11% of those surveyed remember P&G’s “Mother” campaign from the 2012 games. In fact, there were companies considered significant sponsors who had zero recall. For instance, one of London 2012’s biggest sponsors, Acer, had zero recall for the UK consumers surveyed.
What does this mean if you’re tasked with any sort of research to help strategically determine the best path for sports sponsorship?
Know Your Audience
The study found that a younger audience—nearly half of 16-29 year olds—were receptive to sports sponsorships. Regardless of your industry—advertising, research, finance or fund development, realize that if your primary audience isn’t part of a younger, millennial demographic, you may be making a poor investment choice. By researching engagement levels, purchase patterns and other important business statistics over time, you can ensure you’re giving advice that helps clients meet their goals.
Provide Historical Context
Up-to-the-minute insight is always critical. But sometimes, it’s the look back that can improve decision-making. Access a robust archive of historical sources and data to uncover applicable insights. By looking back, you can uncover trends and patterns over time and ground your recommendations in winning strategies backed by context and proven results. What affects the success of sports sponsorships? Seasonality? Geography? The types of brands that sponsor? Only history can paint a picture of this clearly. Be sure you’re looking at historical articles, sources and reports. This way, you’ll be confident your recommendations provide a true 360-degree point of view.
Continually Gauge Financial Impact
Get ahead of the game by understanding the financial impact of the sports sponsorships. Set up alerts, receive aggregated reports, and take a deep dive into related industries so that you don’t miss any of the details whenever they happen. Get a snapshot of how other companies in the same category performed financially when they committed sponsorship money. By leveraging a solution that can pull the content and organize it into easy to digest charts, you can be confident your strategy is on track and you have the information necessary to react and adjust your plans as needed.
The two-week window on the winter games is a short one. For brands that invest in it, they are committing big budgets for a potentially uncertain payoff. Focused, deep research can be the difference between money well spent and money the brand may regret. Just imagine what deep research can do for longer-term strategic investments.
Interested in more?
Check out our Sports Analytics page.
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