Senior marketing executives receive dozens of sponsorship proposals every day. Some of them are very targeted and well-structured, and others are very general and pretty much irrelevant.
So, the question is: how to select what to sponsor when you have several opportunities but a limited budget?
As we mentioned in our previous article, sports sponsorship is very effective because it speaks to the audience in a deeper way, but to do that you need a relevant story. This is exactly where you should start when evaluating several sports properties: the story.
DHL is one the longest-standing global partner of Formula 1 and guesses what their story is: since 2004, DHL has ensured the smooth delivery of up to 2,000 metric tons of race cars, fuel and equipment to Formula 1 venues around the world. An authentic and powerful story that helps the brand to build credibility in the eyes of companies and consumers around the world.
Now that you have the story, you need to look at insights. We are not talking about the 500M unique viewers that watch the sport, but you have to understand how many of them are actually interested in your products and services.
More than half of F1 fans are business decision-makers and they are more likely to work in an IT role than average, do you understand now why technology brands are so involved in the sport? They speak right to their target audience, those who decide which IT services to buy for their company and a Formula 1 sponsorship is one of the best tools to build brand preference.
It is now time to look at more specific aspects which are connected to the people and the culture within properties: some have a highly engaged digital fanbase and produce very creative content thanks to highly specialised professionals, while others have the best hospitality unit and technical integration opportunities. Some have a very flexible and proactive approach to sponsors' requests, whilst others are more protective of their brand identity and reluctant to think outside the box.
This last point is the trickiest one because for a brand is almost impossible to know the ins and outs of that team unless they rely on experts that have been involved in the sport for years and know how teams operate very well.