The power of successful sponsorships and positive brand association is nothing new in the world of business and comms. But today’s increasing popularity of sports sponsorships has become hard to ignore, now recognised as one of the fastest-growing marketing tools, with no signs of slowing down. According to Statista, the global sports sponsorship market was worth an estimated USD 57 billion in 2020, and is expected to grow to almost USD 90 billion by 2027.
Given the unwavering universal appeal of sports, it comes as no surprise that a carefully thought-out sports sponsorship can build brand awareness, boost brand image, help promote new services and reach customers in a more meaningful and impactful fashion. Let’s dive deeper into why sports sponsorships have become so popular in recent years.
Cultivating brand awareness
Associating a company with a major sports club adds to brand value. The exposure generated from large-scale sporting events will inevitably help brands reach a greater demographic, becoming more widely acknowledged by means of association. And in today’s digital world, especially given the immense power of social media, the possibilities are truly endless. The rise of the Metaverse and the continued evolution of virtual advertising has also brought about new and exciting opportunities for exposure that no one would have imagined a few years ago.
Boosting brand image
In our fast-paced world, it’s easy for brands to get lost in the noise. A strong sponsorship helps brands leave their mark on the market and stand up to the competition, while the social capital of being associated with any super club can help position a company as a leading force in its field. Importantly, the publicity generated from a sports sponsorship can also boost the visibility of respective products and services in a more affordable manner than having to purchase them from various traditional or digital media outlets.
Strengthening customer relationships
Customers today turn to brands that align with their principles. They need to feel a real connection with brands whose values align with their own, and, more than that, they yearn to feel a similar sense of purpose. As such, businesses have begun looking into new ways to reach target consumers while forging strong and lasting bonds with a similar vision in mind. Sports sponsorships offer a means through which brands can emotionally engage with fans, and tap into a sense of community in unique ways that aren’t always possible or easy via other marketing channels. This often paves the way for deeper and more meaningful connections with existing and new customers.
Libertex on the ball!
Football sponsorships in particular have become exceptionally popular in the sphere of online trading in recent years, and brokers are keen to recreate a sense of community and loyalty that is ubiquitous throughout football fandom. The strong correlation between football fans and traders means that any connection with a world-famous football club inevitably helps position brands as a front-of-mind option within their respective fields.
Cyprus-based online trading Broker, Libertex – one of the leading online trading brokers and part of the Libertex Group – takes great pride in prominent sports sponsorships. Since 2020, Libertex stands as the Official Online Trading Partner of popular north London club, Tottenham Hotspur, but, more recently, the innovative brand also entered into a multi-year partnership with Germany’s most successful and biggest football club, becoming the Official Online Trading Partner of FC Bayern.
Not only is this the first time FC Bayern has worked with an Online Trading Partner in the field of CFD and foreign exchange trading (B2C sector), but it is also the first time Libertex has sponsored a German club alongside its existing commitments in the Premier League. In the few weeks following the announcement, Libertex’s regular presence on FC Bayern’s social media channels and LED advertising boards at home matches in the Allianz Arena have got new people in key growth regions talking about the company and its services.
Combining the exciting worlds of football and trading, the partnership allows Libertex to share its love of the game with its millions of customers. FC Bayern’s self-image stands for an extreme winning mentality and a good shot of self confidence, just like the club’s motto: ‘If you want to win, you have to work hard for it’! This perfectly aligns with Libertex’s ‘Trade For More’ motto, and the positive ethos of its dedicated clientele, helping pave the way for an even brighter future, as the broker goes from strength to strength.
For more information about Libertex, please visit www.libertex.com