We live in a society that is more than ever data-driven. Almost every aspect of our lives is tracked, analysed and stored. It comes as no surprise that also sports sponsorships are leaning towards this approach considering audience insights as the key to success.
Today brands can obtain large but also specific data when talking to a sports property to understand if that sport and that team are the right fit for them. But why should a brand undertake this analysis?
Because it would be very superficial to select a sport or a team over their competitors only based on how big their audience and fan base are. What matters are more specific demographic data, buying habits, hobbies, passions, disposable income and so on. Those are the data that a brand should look for when comparing sports properties.
For example, Formula 1 fans are more likely to be interested in finance and investments than average, so probably if you are a fin-tech brand, this is the sport where you should be. However, each team has their own fan base which is the people that you, as a partner, will speak to the most.
So, the second step of the analysis is to look into that fan base going way beyond reach and engagement, instead, you should focus on understanding if there is an affinity towards your products and services.
In our previous article, we talked about how authentic storytelling is essential to the success of a sports sponsorship, but if you are telling this story to an audience that is not interested, it will all become pretty useless.
That's why every time we talk to a brand, presenting them with several options, we provide audience insights: to make sure that there is not only a good story to tell but an audience interested to listen to it as well.