Category Archives: Marketing
Social media is constantly evolving to keep up with the times. Facebook used to be simply a way to see what your classmates were up to. Now, businesses can market and sell products on Facebook. While Facebook commerce is not the top way to sell products, Facebook is certainly becoming an important advertising tool. It is not without its faults, however. The value of Facebook depends largely on what businesses want to sell and who they want to sell it to.
1. Facebook Brings the Product to the Client
With over 1.2 billion members, Facebook is a popular internet destination. Businesses can use Facebook to bring their products to the people, instead of waiting for the people to come to them. People do not go to webpages for products they are not already interested in or do not know about. They do use Facebook, however. By placing ads on Facebook, businesses can direct many more people to their website who might not be searching for them otherwise.
2. Clients Sharing Business Links Provides Free Advertising
One feature of Facebook that can really benefit businesses is the “share” feature. When a business’s fans and supporters like and share a business’s Facebook page or product, they help get the word out to all of their friends and family, who may not be familiar with the business or product. Not only is this is free advertising, but potential clients are more likely to pay attention to advertising if it comes from their friends and family.
3. Updates in Clients’ Newsfeed Keep Businesses on Clients’ Minds
Businesses on Facebook can keep their clients informed and up-to-date by publishing stories which appear in their clients’ newsfeeds. By regularly appearing in clients’ newsfeeds, businesses create familiarity and keep their business in the minds of their customers. By advertising new products, sales and promotions, businesses can keep their clients coming back to their website regularly.
1. Business Fees are Cost-Prohibitive for Very Small Businesses
While it is possible to set up a Facebook online store so clients can buy products straight off of the Facebook business site, the monthly fees are cost-prohibitive to very small businesses. Many very small businesses create Facebook business pages to showcase their product but then actually sell their product elsewhere. This can be a hassle for very small businesses and their clients.
2. Facebook Does Not Reach Every Demographic
While Facebook is used by many, it is not the best method of advertisement for every demographic. Companies who want to reach young children, the elderly, or people who do not have internet access are not likely to benefit from a social media website that is not frequented by these segments of the population.
3. Facebook is Not a Good Match for Every Product
Furthermore, Facebook might not be the best choice for every product. Facebook marketing depends to a large degree on people liking and sharing products on Facebook. There are some products that most people would not be proud to use or want to share with their friends and family. These sorts of products would sell better using traditional advertising and websites.
Info source: Understanding Social Commerce and Its Benefits to Your Business
The sponsorship of individual athletes is one of the major channels of sports marketing available to sponsors and their brands. Sponsorship for an individual athlete provides definite benefits for both parties as well as obligations.
Both the sponsor and the athlete must be clear about what the benefits and contractual obligations for both parties are, as set out by contract agreement. The ability to get this clarified can be simplified or complicated when an athlete has an agent involved in the negotiations. Communication is the key requirement for both parties in a sponsorship agreement. Regardless of the participation of agents or not, the responsibility for proper adherence to any sponsorship agreement is the responsibility of only the sponsor and the athlete.
Athletes under a sports sponsorship are more likely to perform at their best level. This is due to the removal or lessening of financial pressure. Sponsorship helps athletes maintain performance ability through reassurance and gain confidence in their ability to perform. Especially if it comes later in an athlete’s career, the benefit is more important in the life and maintenance of athletic ability of an athlete. Once an athlete has had a reasonable amount of time under sponsorship the financial independence this can provide is important in motivating an athlete to continue conditioning in order to perform. It also is important in eliminating worry about loss of sponsorship from a financial and personal perspective.
Finding and Retaining Sponsorships
For athletes seeking sponsorship the fastest route is performance excellence. This allows the athlete more advantage in negotiations with sponsors. The ability of sponsors to assign key contact personnel allows an open relationship, within the bounds of the sponsorship agreement, that helps maintain a positive sponsor–athlete relationship for a longer period.
Agents do help some athletes considerably. Without them an issue of power versus dependency can develop. The result of this is the offer of smaller sponsorship packages and difficulty in reaching and maintaining the optimum relationship between the sponsor and athlete.
Athletes experienced with sponsorship state it is important for both parties in the sponsorship agreement to be proactive about communications. The athlete should not assume the sponsor is aware of all milestones met by the athlete. The sponsor should make sure the athlete is aware of changes in sponsorship goals the sponsor would like to discuss. Those sponsor–athlete relationships that can reach this level of cooperative participation become closer-tied, personally as well as contractually. This makes termination of contracts by either party less likely to occur.
Responsibilities and Concerns Inherent in Sponsorship Agreements
Here are some things that athletes and sponsors need to do in concert with each other in order for any sponsorship agreement to be mutually beneficial, allowing the relationship to continue longer.
• Athletes must constantly work remember the importance of their image.
• They must maintain a healthy way of life and at all times be professional.
• Athletes need to build good relationships with the media.
• Athletes should always treat sponsorship benefits as a bonus.
• Athletes can use agents to leverage for better sponsorship packages.
• Sponsors should avoid sponsoring any athlete too early in their career.
• Sponsors must communicate and update athletes on sponsorship goals.
• Sponsors should sponsor athletes of both sexes.
In the world of sports sponsorships, sponsors for different sports are always changing. Some companies want to spend money in order to sponsor a specific event, while others don’t have the funds any more, or didn’t find the vent profitable enough for them. Due to this, sponsorships are constantly changing, but the sponsors will always be there. If they aren’t, the particular event or sports team will just dry up and not be able to bring in enough money, forcing them to shut down. These bits are just some of the latest sports sponsorship news that is going on in the world today.
Friday Night Fights has long been a staple on ESPN, as the nightly boxing matchup takes center stage once the football season is over. This year there is a brand new sponsor for the fight: Chang Beer. This is an interesting push for the popular Thai beer, since it has yet to make any sort of a splash on the American marketplace. With this new agreement, it looks as though the beer is looking to possibly increase production and boost sales inside the United States with the new sponsor agreement.
Moving to NASCAR, 5-hour Energy has been the sponsor for the Nationwide race at Dover International Speedway for many years now, and it just confirmed that it will be returning to the track as the primary sponsor of the event again. The company believes it has profited immensely from the exposure it receives via the race, so it wishes to continue its current agreement with the sport.
The USA cycling team has several different sponsors, and there is soon to be one more. Post Grape-Nuts has just signed on to become a major sponsor of the USA cycling team, which is going to help promote the team and pay its way across the world as the team competes against other teams from different nations.
MISSION has recently signed on with the NBA for a multiyear deal to become toe official “Athletcare” service of the league. This means, all the merchandising of this option must be produced by MISSION. The deal should be both beneficial for both the company and the league, as long as the league doesn’t have any more extended layoffs. The longer these layoffs occur for, the harder it hits the sponsors, as they are not going to sell as many products as during the regular season.
GAC, a global shipping provider, has made its move over to the United States and has signed its first sponsorship with the Houston Rockets, an NBA team located in Texas. The company believes it is in a large target market area, and should help prompt the brand name to the surrounding area.
Sport marketing is a proven method of promoting the brand and the product. Sports events provide necessary exposure to the company’s brand. Millions of avid sports followers are glued to the television in important sporting events. Sports marketing campaigns are not just limited to television as they invade practically all other media too such as newspaper, billboards, radio, internet and magazines.
There is undoubtedly a huge untapped market for sports marketing in Asia. The sheer number of people in Asia presents a huge opportunity for international brands to do marketing through sports. Sports sponsorship in various sporting events in the region will ensure that the company’s brand or product is visible to viewers in Asia.
A good example of a sporting event that captivates the world is the recent Olympic Games in Beijing. Sports marketers, media and advertisers vied intensely for an advertising spot in the said event. An estimated US $18 billion were spent by companies and marketers on the Beijing Olympics.
The FIFA World Cup in 2006 reportedly earned US$100 million in tv rights alone. The tv rights for World Cup in 2010 and the coming 2014 were sold to a group of companies for US$ 350 million. Established sport marketing properties in Asia are clearly gaining momentum. The value of marketing in sporting events in Asia is definitely on the rise due to the perceived profitable results it will deliver.
A huge part of the growing popularity of Asian sports sponsorship is the increasing number of delivery media available to marketers. Aside from the traditional television and radio channels, marketing is now invading mobile, broadband and IPTV channels. This means additional opportunities for brand or product exposure to target audience.
Asians just like other fans are very supportive of their idol athletes. Local sports superstars like boxing legend Manny Pacquiao from the Philippines are treated like heroes in their homelands. Asians are particularly known for their intense support to known local sports personalities.
Businesses and marketers should choose the sporting events they will sponsor carefully. Compatible sponsorship can create a lasting impact to viewers and fans alike. Trust is cultivated if the perceived brand value aligns with the chosen sport. This can result in dramatic surges in sales. For instance, expensive wine brands will most likely sponsor a polo tournament. Beer companies will most likely sponsor baseball events.
Sports marketing in Asia harness the fans unbridled passion and support for their teams or sports hero. A brand or a product that is closely associated to a popular team will most likely gain a large following of loyal fans eager to reach out to their athlete idols. The trick is to get seen with the athlete endorser in every chance possible.
More and more companies and brands seeking to grow their market share in Asia are successfully using the power of Asian sport to connect with consumers across the region in ways that traditional advertising and promotional programmes cannot achieve.
Sport brings to brands a passion they would otherwise be unable to capture, offering a cost-effective, integrated marketing platform. Sports sponsorship delivers above–the-line awareness with below-the-line activation, and engages audiences through a myriad of consumer touch points.
A record 192 million viewers watched the 2010 AFF Suzuki Cup – the region’s top national team football competition hosted by the Asean Football Federation (AFF). This biennial football competition enjoys a wide and passionate following throughout Southeast Asia.
In Indonesia, an average of 15 million viewers watched the two final leg matches on RCTI, more than twice the number who watched the highest rated FIFA World Cup 2010 match, and nearly eight times higher than the average domestic prime time audience. The second leg semi-final is RCTI’s highest rated program of all time with a market share of 82 percent. In Malaysia, RTM recorded shares of 40.3 percent and 48.4 percent respectively for the two final leg matches.
Aside from the record TV ratings and sell-out crowds of nearly 800,000, the event also had 193,172 fans on Facebook, 1.9 million visitors on its official website and 1.8 millions views on YouTube.
This interaction with millions of fans allowed title sponsor Suzuki and other event partners to engage with consumers on a personal and emotional level. The sponsorship generated tremendous visibility for their brands and products across key markets in this region and helped to reinforce their brand values. Each partner saw an average return on investment (ROI) of 28:1 (based on 100% media equivalency; Source: Repucom) – a clear demonstration of the power and effectiveness of sports marketing and sponsorship.