Over the past couple of years, the sports and event market has grown to a lucrative and hundreds of billion dollars worth business sector. Sponsorship became one of the main profitable channels of income to teams.
Sponsors pay millions every year to be associated with teams and events to increase the brand awareness and sales to a wide range of audience. Like other marketing activities, sponsorship is not 100% measurable. Now it's time for brands to look beyond reaching millions of clubs fans with brand names by making use of fan intelligence.
How do fan intelligence help brands to increase Revenue?
As part of Club's data strategy, they started collecting data across ticketing, social, merchandise, retail, hospitality as well as its community and website. Clubs are building intelligence on this data to increase their revenue as well as to provide fans with a tailored experience.
Sponsors can now ask for additional marketing rights from teams to use their fan data for brands targeted marketing campaigns. At present, sponsorship limited to things like Logo & Name on Team Jersey, Countable Social Media Mentions & Press Coverages and Rights to Activate Marketing Campaigns with 2 to 3 players. Apart from a global reach through club fans, the number of benefits is limited.
Sponsors have to sign specific deals to use clubs fan data. They can utilise the Data and Intelligence of Fans like it used by the team or any business. Because the price of media is increasing every year and the insights on fans help brands to optimise and execute channel specific marketing activities. This in-depth knowledge on fans allows brands to work on where they spend out ad budgets and whom to target as well as what markets to focus through club's channels.
The advanced level insights on fans help sponsors to plan and execute targeted and tailored marketing campaigns around the year that is even after the tournament gets over. Its helps brands to associated with team long term to achieve the scale.
The long-term association and relationship by brand increase the engagement, conversion and loyalty among fans and also helps to understand the behavioural evolution of people. This helps to build more detailed profiles of potential customers and gives an improved ability to monetization of fans in the local and global market.
Targeted messages to teams supporter database can lead to higher opt-ins and sales. This new system assists in utilising marketing budget properly and brings a greater valuation to the sponsorship deal.
"Without big data analytics, companies are blind and deaf, wandering out onto the web like deer on a freeway." – Geoffrey Moore
In short, sponsors with intelligence on club fan base would be able to drive additional revenue through various touch points. It could be either through clubs or sponsor brands channels. Data and Analytics activates series of customized marketing and loyalty activities year around.
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