Throughout the month of the April it had been one of learning experiences that I enjoyed as it was a challenge. Yes, I enjoyed every moment of being challenged in my academic experience of my months of sports. I have always wondered many different options on how companies experience the processes with the gaining of sponsorship, how they market to the different avenues of getting more bang for their buck, and then accomplishing a goal of the one that they set. One thing that I found interesting during it all is how many different NASCAR drivers, or teams are gaining the sponsorship and having to advertise with them. It has always been of interest as I have always thought it was interesting with their suits covered in sponsorship, along with their cars. What I learned through this was not as complicated as I thought it would be. âFirst, letâs deal with the cost. According to Adweek, a primary sponsorship in 2013 cost anywhere from $5 million to $35 million. In 2013, an associate sponsorship cost anywhere from $250,000 to $2 million, according to Adweek.â (NASCAR.com, 2015) What this means is that the hood of the car is a different cost than the bumper of the car, or the side panels of the car. We all can market the sponsorship on a different level and NASCAR for me has been on a different level of marketing their sponsorship in sports for many years. In order to market you need to know the ins and outs of who you are marketing, what goals they want to meet, the demographics they are also trying to reach, and for how long that the sponsorship is needing to be marketed.
With the time of learning the field of sports and where I would like to be placed in it, I think my main focus for my future would have to be in the gaining of learning how to work with sponsors and what it would take to help them market their brand into the sport that I hope to be working for one day. Like many sports they have theme nights, giveaways, and even just to post their ads around the stadium or arena that the game is being held at. I personally would love to be able to learn how to reach the fans unlike many others have done, how to get them back into the sports that they desire to watch, and what it would take to grow that teamâs franchise further than they are. One great piece of advice I read was actually one thing that I hope to take with me to my future in the sports industry. âCreate âsponsorship programsâ with incentives for growth, and create a marketing message and online form to only attract racers who are willing to carry out what you want and needâthese are the keys to success for all involved. This also teaches racers to become better marketers for you, and your company grows as a result! Through your ideal programs, you will also help grow the sport as a wholeâsecuring a better future for all of us.â (Strawhand, 2015) Everyone has a different level of how much they can and will put towards their marketing with a sponsor so giving them the chance to see the different levels it would accomplish more than it might if you give them one option. Giving the chance to reach out on marketing packages and having tiers to them packages entices them that they donât have to spend all their money at once.
You now have a great marketing plan, how do you figure out who you want to sponsor and how you want to sponsor because that is going to determine how big the plan for your budget and so forth is going to be. Like many different plans is it going to be one to give people short glimpses of who is being sponsored or non stop? âNike, Adidas, and Under Armor have ramped up their respective presences with regards to sponsoring college football teams. As is mentioned in the video below shortly after the 2:30 mark, it makes much more sense for a brand to pay advertising money to have their symbol and or brand name on jerseys of players who are on the screen for three or more hours.â (Richards, 2015) For many sponsors they want to lay it out in anything that they can but for many sponsors, they try to be somewhat discrete who they are supporting or helping out through their sponsorship. This takes time to figure out but in the long run, it could be one of great asset.
So now that you have figured out all the little details of sponsorships and how to market them, you have to know figure out for how long you are wanting to be a sponsor and how long to be out in the market. Some a few days, others weeks, and many can be years. It all depends once again on that budget, and what the goals are in the end. âIn 1925, Ford made the decision to sponsor Australiaâs Geelong Football Club and 91 years later, the automobile company is still the clubâs main sponsor and has been key in providing support to the club, through the good times and the bad times. Ford arenât the only company with long standing sponsorship relationships. From Coca-Cola and the Olympic Games, to Canon and the World Cup tournaments, sponsorships are spanning decades with no end in sight.â (clipperroundtheworld.com, 2017) These companies have chosen to continue marketing their sponsorship due to the loyalty to who they are with. This shows the moral of the company, how they feel about dedication, and much more.
 As for me and the future in the business of sports, I hope that Iâm given the chance to work many of the techniques that many classes has taught me along with the research that I have done of great companies. In the words of Tommy Hilfiger "The road to success is not easy to navigate, but with hard work, drive and passion, it's possible to achieve the American dream." With that being said, I plan on doing just that.
  References
Malfitana-Strawhand, A.Â
No Letting Go: Why the sponsorship game is a long one.Â