Updated August 2023: 5 Traits Corporate Sponsors Look For in Sports Partners
It’s already been a week in the wild world of sports and it’s only Wednesday. US soccer fans started out...
Throughout 2018, sponsorship spending increased by 3.6 percent to $23.1 billion. In 2019 the success continued and sponsorship spending was projected to grow 4.5 percent in North America to $24.2 billion, and 4.9 percent globally to $65.8 billion.
More dollars equal more opportunity, but also heightened competition. With everyone fishing in the same area, you need a way to cast your line more strategically. That’s why our team of in-house analysts unveils opportunities with brands allocating more dollars to sponsorship spending.
Check out five brands that are showing signs of opportunity in the sponsorship space.
If you find these opportunities valuable, download our eBook to scope out some seriously under-the-radar prospects, with analysis on why we predict emerging brands will spend big in sponsorships in the coming year.
1. Victoria’s Secret Launches Diversity-Focused Campaign Amid CMO Search
After executives making negative comments last year about plus-size and transgender models, Victoria’s Secret is now launching an inclusive campaign featuring women from both backgrounds in an effort to rebrand. The brand may also see a spike in spend with the holidays approaching.
Sponsorship Opportunity: With Victoria’s Secret moving into new target markets, focus pitches on how your opportunity can get them in front of female consumers, especially diversity-focused millennials and Gen-Z. VS also recently teamed up with women-owned luxury lingerie company Bluebella as part of a new collaborative strategy, and could be interested in similar partnerships in the future, especially once new leadership is in place.
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2. Candytopia Finds New CMO
Marcy Davis, Candytopia CMO of roughly six months, has stepped down and been replaced by Nikki Emmans, effective September. Candytopia is an interactive experience, a pop-up, candy-themed museum, currently available in Philadelphia and Phoenix. It mostly relies on word-of-mouth, social media and experiential marketing.
Sponsorship Opportunity: Regional sellers able to get the brand in front of Gen-Z and millennials should start reaching out. Despite drops in spend in recent months, we should see spend pick back up under new leadership. Its target demographic has a slightly female skew, especially including moms looking for family-friendly activities. With a new leader in place reevaluating strategies, don’t hesitate to reach out.
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3. Lagunitas Beer Lands New CMO, Plans to Expand Millennial Market
The Heineken subsidiary managed to snag Kelly Murnaghan from Vans Shoes in July, where she served as marketing VP. Murnaghan will help the founder-built brand expand globally and reposition it to better fit an international millennial audience, improving the communications strategy across all channels. The company typically utilizes digital, social and music-experiential marketing strategies to remain top-of-mind among millennials in the US, so it will likely continue in these efforts.
Sponsorship Opportunity: Target health-conscious millennials via digital and experiential local venues. See the music festival calendar here, and remember that most of these, if not all, will take place out West. It also hired Ian Jacobs as concessions and sponsorship director in August, so more sponsorship opportunities may be coming your way.
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4. Jagermeister Hires Global Creative, US Media AOR Amid Focus on Younger Consumers
Jagermeister concluded it’s global creative review and hired Engine. With several strategy shifts taking place, don’t hesitate to reach out. Keep in mind Jagermeister has been trying to increase engagement among millennials and Gen-Z. In order to do this, it has been shifting around its spend strategy.
Jagermeister typically spends the most during Q2 and Q4, especially during October because of Oktoberfest. It holds planning conversations in Q3 and buying conversations in Q2. As noted, it has been trying to increase engagement among millennials and Gen-Z. This demographic has a male skew.
Sponsorship Opportunity: The alcohol brand has been known to use outdoor, sponsorship, print, earned media and experiential. With shifts taking place and a focus on a new target market, reach out for partnering opportunities.
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5. Hungry Planet Names First CMO
Planet-based meat company Hungry Planet (HP) has named Brad Johnson it’s first CMO, effective September. Previously the CMO at Nature’s Variety, Johnson brings additional marketing leadership from companies such as Hershey, MillerCoors, McKinsey & Co, PepsiCo, Clorox and WPP.
Sponsorship Opportunity: Decision-maker shifts, especially new hires and CMOs, are the top trigger for sponsorship sales. New hires tend to evaluate current partnerships and begin making changes within a 3-12 month window. Keep in mind HP’s focus on sustainability signals a millennial target demographic. It tends to target chefs around the States in order to be available in restaurants.
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Ready for more insight into emerging sponsorship opportunities? Check out our new eBook: 5 Emerging Sponsorship Sales Prospects.
