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Companies have long tied their corporate logos to well-known sports teams and celebrities as a way to increase brand recognition and target a well-defined customer segment. But for many companies, the choice of a sponsorship property-whether it is the NFL, World Cup soccer or a brooding rock star-is often based on the CEO’s favorite past time or as a means of gaining access to high-profile events. Yet, today, as competition for properties heats up and market dynamics change, so must sponsorship strategies.
This paper discusses the ins and outs of sponsorship marketing. It outlines how to align the sponsorship property with business goals and discusses the importance of measuring performance. It also offers guidelines for negotiating contract terms and agreements, and the best ways to design a market activation strategy. Companies that strategically evaluate their sponsorships and develop integrated marketing plans for each property, are more apt to realize the full economic potential of their sponsorship deals.
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