This week Coca-Cola purchased the naming rights of the London Eye. With the name to be confirmed, could sponsorship be your organisations marketing breakthrough?

Sponsorship and more latterly naming rights have becoming an increasingly important part of organisations marketing activity. From large scale Sports Stadia, Teams, athletes, Music and Arts venues, television programmes and publications all the way down to the Managing Directors son’s football team; sponsorship is an intrinsic facet of many organisations marketing mix.

For many years sponsorships came in the form of regular links and emotive factors between two parties, it was something the company just “did”. Be it a fan or a regular attender, the sponsor just handed over that cash year on year without thought.

In an increasingly competitive and commercial environment every penny of a marketer’s budget is now counted and scrutinized. Any outgoings, particularly sponsorship has to be justified.

Why sponsorship? A seldom “cheap” marketing tool, and with potential risks, why do these organisations place massive emphasis on this sponsorship?

Sports fans have that love for their team like no other, spectators will go to certain entertainment or arts venues week in week out and that association with that sponsor and an emotional tie. Or in the case of the London Eye a large recognizable landmark, with that “wow” factor. This will count for a lot in the brand perception and down to the decision making process. Especially if there is a close competitor, this could be the deal breaker. If your brand has that “fit” and alignment with the recipient you could be onto a winner. 

There was excellent fit between brand Nike and the Michael Jordan “brand” with the “Just do it” campaign. All those young basketballers wanted to play like Michael Jordan so purchased the latest Nike trainers. 

The naming of the Sage Gateshead, a progressive organisation and one of the most modern pieces of architecture in the UK, a relationship that has certainly got that brand fit.

Effective sponsorship can reap rewards. Car manufacture Mercedes have made an estimated $1.5bn through the sponsorship of Chinese tennis player, Li Na and their ambitions to enter the Chinese market.

If there is brand fit between sponsor and recipient, partners can develop joint goals and objectives and develop a joint strategy.  Different sponsors have different objectives for their campaigns, from PR, to sales, to brand development and associations. Though the key is setting these objectives and continually evaluating the strategy.

The relationship between the parties is key as there is the potential to achieve the Holy Grail and add value to the partnership on top of the financial and usually contracted agreements. With this relationship, with a fit between the brands, then sponsorship success becomes increasingly achievable.

Virtually everybody knows the Coca-Cola brand, but the naming rights purchase of such an iconic global landmark will be more about strengthening the global power of and shaping attitudes of the brand. Both global, aspirational brands there is real fit here. 

The launch of the low calorie “Coca-Cola Life” in an increasingly health conscious environment where in recent years pressure has been placed on the Coca-Cola brand, in conjunction with the naming rights to the Eye will be the attempt to shape attitudes to a more positive brand image. Hopefully for Coca-Cola also for the customer to purchase Coca-Cola ahead of Pepsi!

So if you are considering sponsorship as part of your marketing strategy why not get in touch with us at Silver Bullet and we can develop a strategy together. As a full service-marketing agency we can help you with every facet of your marketing activities and ultimately create a strategy to help you meet you business goals.

For more information call Silver Bullet on (0191) 261 7422 or email Richard Hopper at rh@silverbulletmarketing.co.uk