Sports Branding: How do Industry Practitioners leverage their product in an exponential system?
How sports branding agencies take advantage of sports series, cricket series, and IPL teams to grab attention.
We at Fiberboard were recently recounting the first-ever viral gimmick during the FIFA World cup-1970. The star footballer, Pele intentionally asked the referee to stop the game amid the adrenaline-raising start. The cameras pulled the focus to see Pele tying his unlaced‘Puma’ shoe. The stylish publicity gimmick brought the brand up a notch. As Barbara Smit in her book reiterates, Pele is a human billboard, whogot an incredible amountof US $120,000.
There are two strategies for sports branding agency: Sponsorship and Advertisement. Both generate colossal revenuesfor conglomerates to small businesses. During IPL, brands such as JIO, Nike, RedBull, Spotify, Cadbury, and even new startups like Cred spend millions just to have a flash of 10 to 15 seconds.
Sports unite and excite common people, making it an extremely conducive ground for setting up the brand market. Sports games and events are the kind of glues that bind strangers with a sense of loyalty. Psychology Today says that fans have a romantic relationship with sports and other events like IPL series and other sports series. Whenever the rooted team wins, the fans have a surge of dopamine allowing them to feel dominant. And we all know purchases can only be made from a powerful place of financial dominance.
Some tricks of sports branding agencies in India, calculated at Fiberboard that appeals directly to consumers:
- It is a goldmine of attention for brands
Series of sports like IPL series is a festive season for the sports branding agencies in India. It is also a matter of great enthusiasm for common people who drop other buzzing shows during the prime time. What makes such sports series highly lucrative is their association with some big brands. Brands like Tanishq, Titan, Byju, and others try capturing the eyeballs pre, post, and during the series gaining growth in sales.
2. It is a launchpad for emerging brands
It plays the role of the brand-building campaign, lifting the brand name up a notch. Emerging brands like Lenskart witnessed a surge in business online and at stores both. The perks of posing amid such sensational games is highly lucrative for sports branding agencies and they very well know how to play their best shot.
3. Winning teams translate higher recalls for brands
If players or sports teams are winning there is high likeability of attaching the brand’s face to the happy wins. Brand Red Bull has witnessed a surge in sales after their sponsored team’s victories. The fans integrate the victorious side with the brand and drive brand memories home.
Sports series are the surest market for brands agency to create bonds, forever!