Globally, over $46 billion is being spent on sports sponsorships and over $101 billion is spent on activating and executing those deals. This is a 20% increase over the last 5 years, back when spontech or sponsorship technology, wasn’t even a well-known term. Today, brands use technology and data to establish strategic sponsorships and partnerships with aligned goals, with teams, athletes and other sports properties.
At the MIT Sloan Sports Analytics conference held in early March, the panel “Scoring Sponsorships: Metrics to Maximize Brand Value”, sponsored by Hookit, featured representatives from top brand sponsors and sports properties.
- Scott Tilton, CEO and Co-Founder of Hookit
- Adam Grow, Chief Operating Officer of KORE
- Joe Ruggiero, Vice President of Strategy & Business Development for the National Football League
- Rahul Kadavakolu, Executive Director – Global & Group Marketing & Branding/Sports & Entertainment Partnerships of Rakuten
- Ian Fitzpatrick, Head of Global Content and Digital Marketing of New Balance
- Warren Zola (Moderator) – Executive Director of the Boston College Chief Executives Club at the Carroll School of Management
The panel discussed various aspects of sponsorships in sports and addressed some of the following topics:
- How IMPRESSIONS are no longer as valuable to brands as overall ENGAGEMENT
- How NEW BALANCE values vision and strategy just as much as data analytics
- Where RAKUTEN unifies its workforce to yield better quantifiable results
- What METRICS are important to brands now compared to a decade ago
- The answers brands are chasing, that companies like HOOKIT are able to answer
- How the IN-ARENA and FAN EXPERIENCE at sporting events has changed
- The BRAND STRATEGIES companies use to partner with teams and athletes in today’s climate