Martech & Adtech have made marketing spend measureable and predictable everywhere…except sponsorship.
Now there is Spontech.
The Evolution of Spontech®
Marketers are using technologies such as Adtech and Martech to not just prove their ROI but to improve their spending decisions. However, a single technology or tool to actively track the lifecycle of sponsorship was not available until Hookit.
With the help of technology-backed measurement, sponsorship decisions can be made with a high degree of precision. A sponsor can then take actions such as:
- Identifying the best properties to sponsor
- Adjusting campaigns to drive higher ROI/ROO based on near real-time data
- Structure sponsorships that reward performance aligned with the sponsor’s goals
Ready to Make Spontech Work for You?
Global brands are already using spontech to change the model…
The Impact of Spontech: 5 ways it will influence sponsorships
1. Evolution of data
Big Data — the term used to denote large amounts of structured and unstructured data is changing the way businesses are run today. Structured data has been used to drive decisions for a long time, but this kind of data was limited, relatively static and not updated frequently. But now, along with structured data there is a large amount of unstructured, qualitative data such as text, images, conversations on social media, and more. Unstructured data is updated frequently, sometimes in real time, is free-form and generated from multiple sources. This data is also rich in audience insights and sentiment which brands and sponsors can use to gauge the impact of their sponsorship efforts.
However, to extract the essential insights from big data, technologies such as artificial intelligence, and machine learning are necessary. Hookit is the market leader in unstructured data measurement when it comes to sponsorship impact from social and digital media. Using the advanced Hookit Valuation Model (HVM), a brand can learn the aggregate advertising value a sponsored property generated for them. This value earned by the sponsor from social media will be a comprehensive value calculated from not just images or logos seen, but from the total interactions on social media.
2. Evolution of sponsorship measurement
Historically, the effect of sponsorship investments has been measured retrospectively. This descriptive analysis has helped sponsors measure the impact and ROI of their sponsorship investments after the event has occurred. Now, with real-time data measurement available, historical and real-time data can be combined to provide insights to improve sponsorship investments.
With the availability of advanced machine learning technologies, the analytics of the future will be predictive and programmatic. Brand marketers will migrate to more proactive approaches such as predictive analysis (what is likely to happen and how a sponsor can use that to their advantage) and then to programmatic analysis (what action can be taken to identify where opportunities lie and avoid potential pitfalls).
In short, brand marketers will use advanced platforms like Hookit to help convert the data available to them into actionable insights, thereby making progressive and innovative sponsorship decisions and understand which properties they should sponsor to better achieve their sponsorship goals.
3. Evolution of privacy
With the recent issues around how data from social media platforms are being accessed, responsible and ethical use of data is now crucial. In 2018, Instagram announced changes in its API and placed checks and balances on the data that is shared with third parties. Similarly, other social platforms and data sources will work on developing and cultivating
4. Evolution of sponsorship metrics
Social media is top of mind for most sponsors today and 98% of sponsors use social media platforms to activate their sponsorships. Also, the presence on a social or digital platform was the second most important benefit for a sponsor behind category exclusivity. Social media analytics are considered a valuable metric for sponsors and with billions of interactions on social platforms every minute, it becomes important to not just measure the impact of social media on sponsorships but to do it in real time.
Hookit’s live dashboards update social media stats in near real time, which help sponsors to monitor and make decisions about their sponsored properties that can impact ROI. These near real-time data-driven decisions enable sponsors to stay ahead of their competition and also help tweak sponsorship campaigns and sponsored athlete interactions during an event to drive maximum sponsorship value.
5. Rise of performance-based sponsorships
The eventual climax of the impact of
Data backed by technology
Today, huge amounts of data are available, but that data by itself has no value without any applied technology or a trusted platform to process the data appropriately. Spontech platforms like Hookit provide actionable insights specifically geared towards the sports sponsorship industry. With the advent of performance-based sponsorships, sports properties and brands will look to spontech platforms to prove the value of their sponsorships.
Contact Us Today
Are you ready to put data insights and technology to work as the backbone of your sponsorship decisions?
“We are using the Hookit data to make smarter decisions about who to sponsor, what content to push, and when to push it in order to maximize the ROI of our sponsorship investments.”
Ryan Lauder, Director of Consumer Engagement, TaylorMade Golf Company
“Hookit has more than paid for itself, providing several key insights that have helped inform our Global Sports Marketing strategy.”
Ray Hilvert, VP Sports Marketing, New Balance
“Even if I had $1 million to spend, I would still have to make choices about where to put it. Having this type of data at this level really helps to make those decisions.”
Carrie Woodward, Global Partnerships Dir., Michelin
“Vans uses Hookit to capture the true value of how social works for each of our athletes and events. For the first time, Vans can measure and prove ROI on our events and athletes on social media.”
Bobby Gascon, Dir. Global Marketing / Action Sports, Vans
CHASING SPONSORSHIP VALUE An Inside Look At The Top Brands In Sports, How They Got There, And What They Could Do Even Better This report dives into the methodology used to rank the brands, the trends in sponsorship including the impact of COVID-19, and how to use the...
READ THE FULL COVERAGE HERE How much sponsorship value was driven by the world of motorsports, where did it come from, and which brands were the beneficiaries of this promotion? (Insights by Hookit, Published by SportsPro)
LISTEN HERE Hookit Co-Founder & CEO Scott Tilton joins SportsPro Media to discuss how the rankings were created, the trends in the data as well as the broader sponsorship industry over the past year, and where sports marketing goes from here.
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