In the spring of 2007, a new company was formed in New England called Covidien. It was a brand new medical supply company that broke away from its parent company and they wanted to make a splash in the New England market. What better way than to cut a deal to emblazon their logo on the most famous wall in New England, and perhaps the entire USA, the Green Monster at Fenway Park through sports sponsorship.
It is rumored that the price tag for a multi-year deal was well into seven figures plus yearly donations to the Red Sox charity. How did that work out for them? Instant success, for months that summer the word Covidien was the most Googled word in New England. Why? Because no one had ever heard of them before, but they were on the most recognizable landmarks in Boston in a stadium that sells out every game.
Many companies are now looking at sports venues to promote themselves. Sure the big players buy the naming rights to arenas and stadiums, but the smaller guys get to play too with the availability of advertising opportunities inside the buildings. Is this a smart thing to do? It can be if you do it right.
At the local level, when sponsoring local sports teams, make sure you get your money’s worth out of the sponsorship. Make sure you get your logo in various places in the sports venue and there are lots of perks like season tickets, public recognition, game passes, etc. Also, find out how much traffic is anticipated at the venue during the season.
If you are not sure about what the best sponsorship deal is for your company, call your marketing firm to look into that for you. Remember, find the venue where a lot of traffic is anticipated and make sure the deal is good for your company.