Why Sports Marketing? 5 Benefits You Can't Ignore
Regardless of the industry you're in, sports marketing is a potentially invaluable tool. The many sports marketing benefits will help your business connect with local and national audiences. Sports marketing benefits Wisconsin businesses, as this state consists of a community of engaged, loyal, and die-hard sports fans!
Find out why sports marketing is critical for your business and how you can get started with your next strategy.
What Is Sports Marketing?
Sports marketing involves advertising at or during a sporting event or sponsoring a particular team or athlete. In the process, you align your brand with your target audience's favorite sports, teams, and players.
You can use sports marketing in many ways to reach your audiences and get the best results from your campaigns. Often, you can use this strategy to speak to potential customers who might not be as easy to reach in other ways.
Consider several specific sports marketing benefits if you're unsure whether this tool is right for your business or organization. These advantages include the following.1. Building Brand Awareness
Sports marketing can significantly boost brand awareness and recognition among audiences. People will have the chance to encounter your brand through their favorite sports icons, or you'll become a part of their favorite sporting events. You can feature your brand in ads that play during specific events, or your brand can even appear on athletes' apparel.
Many brands over the years have used sports marketing creatively to increase visibility and recognition. For example, Starbucks aligned itself with the Seattle Seahawks by developing sports jersey-themed coffee cup sleeves. These cups also included codes for Snapchat that allowed customers to view even more sports-related content, boosting customer engagement.
Another example involved Puma and the late Brazilian soccer player Pelé, who took a moment on the field during the 1970 FIFA World Cup to tie his Puma shoes. The move is one of the most memorable sports marketing campaigns and gained recognition for the Puma brand.2. Targeting Specific Demographics
Another benefit of sports marketing is the ability to target specific demographics with your campaigns. Different types of sports and teams have their respective audiences you can target.
For example, suppose you want to maximize your reach with broader audiences of all demographics. In that case, football remains one of the most-viewed sports, with the Super Bowl continuing to attract millions of viewers and generating billions of dollars in revenue for businesses. On the other hand, you can also target local teams if you want to reach people in specific communities.
If you want to target younger Millennials and Gen Z, you might benefit from marketing around basketball, whose viewers' median age is 34. Also, e-sports is a growing market that appeals to younger audiences.
3. Enhancing Customer Loyalty
Sports marketing can create a sense of community and loyalty among customers. As people associate your brand with their favorite events or teams, they will trust and stick with you.
For example, if you sponsor a local team and become synonymous with this team and its players, fans will see you as a fellow supporter and recognize you. Subsequently, they'll be more willing to do business with you over other, more detached competitors who don't engage in sports marketing.4. Generating Revenue
You can use sports marketing to generate revenue in many ways. These campaigns can drive sales and income via ticket sales, merchandise, and sponsorships. As a brand, sponsorships are especially crucial if you want to maximize the profitability of your sports marketing efforts.
You might generate revenue by forming a strong partnership with a local team. Fans will see your brand directly associated with this team and be more likely to buy your products. People will want to emulate the iconic athletes they look up to and, in turn, want to use the same products those athletes promote.5. Building Partnerships and Collaborations
Sports marketing gives you plenty of chances to build strong partnerships and collaborations with various events and teams. You'll maximize your brand's visibility through these connections while establishing solid ties to specific sports and teams that build recognition, trust, and loyalty.
For instance, beer company Modelo partnered with the UFC to promote its products, connecting two otherwise different brands in an effective and mutually beneficial relationship.
Use Sports Marketing to Fuel Your Growth
With the help of a solid sports marketing strategy, you'll be able to grow your brand and potentially reach as many as millions of loyal sports fans. However, you may not know how to approach your next campaign, which is where a media partner can help.
To get the best results from your sports marketing efforts, consider working with the experts at Mid-West Family Madison. Contact us today if you want to learn more about how we can connect you with sports fans in Wisconsin and beyond.