Sport sponsorship is expected to overtake income from paying spectators by 2015 – with some big consequenc
es. In the latest Bath Business News Expert Panel article, Bath Racecourse looks at the likely impact
In the world of sport, sponsorship is starting to take centre stage as globally it is predicted to overtake gate admissions by 2015. In order for those working in the sporting sector to take advantage of this, organisations need to focus on forming strong commercial relationships with clients based on shared objectives as well as focussing on raising awareness.
The traditional sponsorship model has largely been replaced by businesses looking for a more engaging experience as well as providing a strategic partnership between sport and business. With the current economic climate not predicted to improve anytime soon there is increasing pressure for commercial teams to add value to their sponsorship packages.
Although there has been a down-turn in the number of companies bringing clients to sporting events, the clients they are bringing are more valuable. Picking a sporting event to attend with clients is therefore a much more important strategic decision than ever before in terms of relationship marketing.
With a number of opportunities when it comes to integrated partnerships open to businesses and sporting organisations, advertising may still be the most effective way for some businesses to use sporting associations in their marketing mix. Many are keen to show the natural links between their business and the world of competitive sport – without the expense of sponsorship.
The team at Bath Racecourse has been working closely with clients to maximise the return on their investment when it comes to purchasing a sponsorship package. Our sponsorship packages have moved away from just offering clients hoardings around the racecourse, and become more sophisticated offering businesses packages that offer real value for money as well as an opportunity for businesses to add something to their brand. With the addition of a private trackside viewing box, a race in the name of your business and numerous on-course branding opportunities, there are a variety of ways in which businesses can make their day extra special.
Sponsorship does seem to be bucking the trend globally and not just in the world of sport, but also in the entertainment business. Brands are increasingly turning to sponsorship as marketers are looking for new ways to drive emotional engagement at a time when marketing budgets are under scrutiny. But sporting organisations should be mindful that sponsorship is much more than just an exchange of money, it must now be a strategic partnership.
For more information about marketing opportunities at Bath Racecourse please visit www.bath-racecourse.co.uk or call our commercial team on 01225 424609.
