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It takes sacrifice to be a winner in the sporting arena, but is your marketing going for gold, too? Springfords accountants says it’s time to come under starters orders if you want to reap the rewards after the finishing line.
Reaching new heights of hyperbole. An astonishingly astounding over use of amazing as an adjective, adverb and even as punctuation. It can only be the blanket coverage of the recent Olympics. In case you hadn’t noticed there was a fairly high-profile sports event in Brazil’s biggest city this summer, and it’s not the fabulous sunshine that has the sponsors feeling browned off.
Unlike the Euros, the Superbowl, the Six Nations or most other big sporting events, those five rings are sacrosanct when it comes to sponsorship. Opportunities to product place a corporate mark are limited and when it comes to footing the bill, it’s pretty much down the ingenuity of the hosts.
Rio, and dozens of other cities and countries, have spent amazing amounts of money to be engaged with high-profile events. The promise of global coverage and exposure to tourism and business markets always lures local authorities, sports bodies and governments to go for gold, and bid to host. The plan is always that the legacy will not be sporting, it’ll be a huge return on investment for years and years. With a few exceptions, the result is usually a disappointing miss from a podium finish and nothing to show for the effort except a big hole in the civic finances for decades to come.
Sponsorships and commercial endorsements often lure business into the same arena. However, it’s often the same result - a brief and expensive blast of publicity, followed by a rapid return to business as usual, despite a great big hole in the corporate marketing budget. Without an amazingly costly long term programme of continued sponsorship, backed up with a promotional campaign of military precision, there’s scant reward for all the hassle too.
Now, it’s possible your business is not about to underwrite the next Olympics, but you may well already have some sporting involvement as part of your marketing plan. At a more realistic level, we say that’s no bad thing at all. Springfords can help look beyond the numbers and help you identify where your sponsorships actually have a sporting chance of paying off and getting tax relief.
To make it work for you, make the most of your involvement. Don’t be shy. Get the word out there. Tell your customers, don’t just hope for them to notice. Work with your marketing and public relations team and whatever you’re doing, always turn up the potential. A school sports day isn’t just a great help to a local community, it’s “our company giving future generations their first step towards the winners podium.”
We’re sure your creatives will do better than that.