Part 2 of 4
Paige Mosberg, ONSIDE Senior Consultant
SMART CONNECTIONS
In today’s world, ‘smart’ often equates to ‘technology,’ and tech companies’ more prominent role in the industry is one way in which sponsorships have become smarter. But there’s a twist: focus has shifted from global B2B tech giants that have skilfully used sponsorship to showcase their services — such as AWS, IBM and Oracle, to consumer and small-business-focused sectors such as fintech and ecommerce/D2C.
In the U.S., properties can thank the more than $100 billion in venture capital that is filling start-up coffers each year. Looking to grow awareness, acquire customers and increase sales, VC-funded businesses are deploying their new capital into sponsorships.
Emerging players that are among the most active new sponsors include Chime, Cash App, Credible, Klarna and Q2 in the fintech space; DoorDash, Grubhub, HelloFresh and Postmates in the food and meal delivery segment; and Honey and Nectar in the ecommerce/D2C sector. The U.K. has seen its own start-up sponsorship wave, including deals from grocery delivery services Zapp and Getir, as well as fintech players eToro, Habito and Laybuy. But ‘smart’ also means working smarter, as rights holders must to attract and secure partners in a competitive marketplace.
That ‘smarter’ approach includes rights holders working together, such as the GAA using its experience and contacts to oversee the Camogie Association’s commercial and sponsorship rights, or several football associations coming together to meet the UK and Ireland marketing needs of brands such as Boots and Weetabix.
It is also about alignment of value. A combination of Covid-19 protocols (Dettol and The FA, Lifebuoy and England Cricket) and an evolving media landscape (TikTok and Burnley, Women’s Six Nations, and FC Women’s Team) have contributed to a broadening of discussions about value exchange.
Implication
Like smart homes, cars and other connected systems, smart sponsorship no longer belongs to the future. Whether it is start-ups discovering a powerful marketing tool, sellers identifying emerging categories or organisations realising the potential of working together to present a singular value proposition, smart equals success for today’s sponsors and properties.
“The Connection Series 2022”, is a four-part blog series, where the ONSIDE’s international consultancy team pull out the key themes from our 16th annual Irish Sponsorship Industry Report 2022.
To request an abbreviated version of the Industry Report 2022, click here.
You can read the other blogs in the series here:
