Data Should Be the Driving Force Behind Sponsorship
Updated: Nov 5, 2019
It's no secret that we live in a digital age so why is it that so many teams and organizations are stuck offering their sponsors or partners options that hardly track reach and almost never track activation?
Sure, there are ways to track how many eyeballs saw a rink board during a live broadcast of a hockey game. Sure, there is a formula in place to assume that because X number of people saw that branding it is likely that the business will see $X dollars return to them.
Brand recognition isn't a bad thing but what we found while selling sponsorship ourselves, only a couple of years ago, was that businesses were catching on and they wanted MORE out of their partnership. They wanted something digital, something that tracked their ROI and something that actually gave them a look at the customers their sponsorship was activating (bringing into their stores).
So many businesses, whether big or small, spend some kind of money on sponsorship at some point. Whether it's on a fundraiser, a local sports team, a local event or even a professional athlete or team. And over time, it's become common for these businesses not to expect much out of their money except a warm, fuzzy feeling for giving back to their community.
But a sponsorship is the perfect opportunity to get MORE than warm feelings, more than just goodwill. In fact, it can be both a way to give back and also a way to bring people into your store and while they're spending money, you can find out demographics about those people.
This day and age, no matter where you're businesses is located, you should be on the lookout for opportunities that DO something for your business. Imagine if you could complile data about not only the time and date that activation of your sponsorship occured (say someone walking into your store to redeem a coupon) but also the gender and age of the person, as well as the city they are from. Now, wouldn't that data be nice?
With that data, you could start to see who your costumers are and it could give you a better indication of where to target your other marketing efforts (outside of a particular sponsorship). Imagine if you thought 70% of your customers were male only to find out that your sponsorship activation brought in 60% females. Wouldn't that be eye-opening?
Fortunately, we live in a time where the opportunity to compile this information exists. The FanSaves app not only activate fans with discounts and deals, enticing them into your store, but also tracks your customer data and ROI, everytime a deal is redeemed. Traditional sponsorship is still alive and well but in this digital age, there is no reason why businesses shouldn't care more about data and how their dollars are being spent.
If you're interested in learning more about how FanSaves can help take your business's sponsorship to the next level, let us know so we can help you out!