For many businesses, sports partnerships are a great marketing tactic which deliver towards a number of objectives:
- Brand awareness
- Trust building
- Customer loyalty
- Brand engagement
- Direct and indirect sales
However in recent years many major brands across a variety of sectors have realised this and pumped vast amounts of money into this channel. The effect of this is an ever increasing price associated with top tier sponsorship deals meaning that many businesses are being priced out of the marketplace. Marketing Week discusses exactly this topic in a recent article.
Bottom line is that there’s more to sports partnerships that major tournaments and while this piece specifically relates to football, the same thinking can also be applied to motorsports partnership deals. Formula 1, WRC, BTCC and more besides attract major audiences globally and in the UK, however this correlates with price and deliverables with these higher profiles requiring bigger investments to activate.
This is where smaller and even mid-sized businesses become priced out of the market at a time when they may be looking to invest in different platforms to grow.
So What Should You Do?
If you run a smaller business and see the potential that a sports partnership can bring to your business you may be despairing at this point and thinking about investing your marketing budget elsewhere. That might be a good thing, but consider this, for every major partnership at a National or Global level, there are dozens of others which operate regionally and at a fraction of the cost compared to a Premier League shirt deal. Racing drivers in karts, local clubs, regional or smaller National Championships all of which have a smaller but often more focused and engaged audiences.
For many businesses these lower tier partnerships can provide a number of benefits such as being able to work with more partners in different sectors, creating a broader conversation across different audiences. Lower tier partners may also be willing to do more for the same budget, for a business this can mean additional perks for customers, clients or staff to enjoy and create a stronger, more compelling story for various audiences.
Want to Know More?
Lower level partnerships can offer great flexibility at affordable prices, why not get in touch and talk to us about DO Racing could work with your business.
