Sports Business Journal last week hosted its 9th annual IMG Sports Marketing Symposium in New York City. If one trend stuck out above all others, it’s that the recent economic downturns have changed the way brands market to sports fans. The problem is that brands traditionally have spent too much money on rights fees and not enough on activation.
According to former Kodak CMO Jeff Hayzlett, who gave the conference’s keynote address, sponsorships work when they increase sales, profit margins, and customer satisfaction. If they don’t hit all three, they shouldn’t be considered. Given the state of the global economy, it’s no surprise that more marketers are taking this approach.