Smart Sponsorships: The Importance of Data in the Digital Age

August 31, 2023

Sport sponsorships, we know, are an ideal way for companies to increase brand awareness and reach new potential customers.

However, in the digital age, simply sponsoring events or athletes is no longer sufficient.

Companies must now rely on analysis and in-depth data to make informed decisions, create targeted and effective campaigns, and maximize the return on investment (ROI).

Improving the ROI of Sponsorships

Measuring ROI has always been a challenge in sponsorship campaigns.

However, with the advent of advanced data analysis tools, companies have been able to start precisely monitoring the efficiency of their sponsorships.

For example, during the Olympics, Coca-Cola used data analysis to assess the impact of its sponsorships on brand awareness, purchase intent, and positive consumer sentiment.

By analyzing data on audience behavior, on social media and other digital channels, Coca-Cola was able to adapt its marketing strategies to maximize ROI.

Leveraging Data to Identify Sponsorship Opportunities

Data analysis can also help companies identify new sponsorship opportunities.

Red Bull, for example, thanks to detailed analyses, identified new market segments interested in extreme sports and electronic music.

This study led the company to sponsor events such as Red Bull Cliff Diving and Red Bull Music Academy, generating a strong bond with these new types of consumers and increasing brand awareness.

Understanding Audience Preferences

It is essential to understand audience preferences to design effective sponsorship campaigns.

Diageo, an alcoholic beverage company, used social media data to analyze user preferences in terms of drinks and lifestyles.

This allowed the company to outline ad hoc sponsorship campaigns for events such as the Coachella music festival and Formula 1, increasing the brand’s resonance with its target audience.

Using Data to Create Personalized Campaigns

Companies can also use data to launch personalized sponsorship campaigns.

Nike used consumer purchasing behavior data to create personalized campaigns for sponsored athletes.

By analyzing data on the most popular products and purchasing trends, the American company was able to initiate sponsorships in line with its target audience.

Maximizing the Impact of Sponsorships with Data

Data analysis has become an essential tool for companies looking to optimize their investment in sponsorships.

The use of in-depth data allows making informed decisions, devising advantageous sponsorship campaigns, and ultimately generating a higher return on investment.

Consumers are becoming increasingly demanding and informed, so it is essential to use all available tools to create successful sponsorship campaigns.

If you’d like a free consultation to discover what kind of sponsorship might suit you, contact us. We’re waiting for you!