Global sponsorship spending is estimated at $62.8bn. Huge!
Year on Year, Brand Managers engage in discussion with organizers of the music festival, football games, beneficial events etc. on Sponsorship.
The goal is to create a win-win partnership.
Having been a Brandpreneur for many years, I have supported the discourse that suggests Brands grow by building the right associations that will drive distinctiveness and strong relationships with consumers. For centuries, Marketeers have used “Sponsorship” as a lever to create and build a brand’s mental availability. While it is true that sponsorship comes with many benefits, it’s been argued it’s sometimes hard to justify the investment.
Especially for none brand initiated sponsorship, research suggests that there’s a low level of association for the brand and this is not good news.
Public and private events, celebrity endorsement, sports and entertainment sponsorship etc. usually have multiple sponsors; this creates challenges for brands. E.g. a case of an athlete/celebrity in ads for multiple brands, it’s extremely difficult to create a strong memory link for a particular brand.
Likewise, it suggests that several brands have to compete for space to be remembered in consumer’s minds when they see the athlete or celebrity. “The more competitive the field of endorsing brands, the less likely any will gain major benefits from the endorsement”
About the Author:
Dolapo Otegbayi, an accomplished and seasoned Senior Marketing Professional with over 15 years’ experience in all aspects of Commercial Business; encompassing Consumer and Shopper Marketing. She is one of the top 50 Marketing Communication Professional in West Africa (7th MWA 2017).