Sponsorship Effectiveness Measurement: Part 1
Since sponsorship deals provide unique value, many brands are actively investing in sport and entertainment events. But not all of them know how effectively this money is spent, because there is no standard approach to measuring the impact sponsorships have on business KPIs. In the article we will discuss how planning and executing sponsorship deals can improve their accountability. Exploiting media resources of high-profile sport and entertainment events like Oscars or The Olympics gives advertisers access to a huge audience and allows creating unique brand experience, that is why companies are expanding their sponsorship portfolios. According to Forbes, in 2020 brands were planning to invest over $68 billion in different events, and the figure doesn’t even include related costs like activations, promotions etc. Here are some benefits of sponsorship that improve brand awareness, consideration and customer loyalty: And these values are pretty much everything companies know about how their sponsorship benefits them. Sponsorship accountability is a real challenge for CEOs and CFOs. According to MASB (Marketing Accountability Standards Board) and ANA (Association of National Advertisers), 60% of marketers don’t have a standard measurement approach and 40% do not even make attempts to quantify the financial results. And only around 30% allocate… Read more »
