Power of Sports Marketing: Influencing Purchasing Decisions and Engaging Fans
- Vikas Kumar
- June 30, 2023
- BLOG, TELECOM & IT
- Sports marketing Evolution, Sports marketing Evolution Analysis, Sports marketing Evolution Forecast, Sports marketing Evolution Growth, Sports marketing Evolution Size, Sports marketing Evolution Trends
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Our decisions about purchases are predetermined and influenced by the brand or company’s marketing activities. Companies aim to add as many commercials to sports, especially during sporting events, in an effort to sway our purchasing decisions. This gives companies an opportunity to capture the general public’s interest and have them instantly think of their products whenever the subject of sports is brought up.
A branch of marketing is sports marketing. It is described as a marketing tactic that uses athletic events, athletes, and sports teams to advertise sports-related events, goods, tools, services, or teams. Sports marketing also refers to the marketing of commercial goods and services, as well as sports-related branding.
Businesses or organisations can use various media to achieve their promotion goals. Some of these might include team or athlete sponsorships, television or radio commercials during the many broadcast sporting events and festivals, advertisements on sports websites, etc. One aspect of sports promotion is sports marketing. It relates to a variety of sports-related industries, including social media, advertising, broadcasting, ticker selling, digital platforms, and public relations (or community relations).
Benefits of Sports Marketing
Wearables have also seen a significant uptake in sports marketing in recent years. This covers both equipment to help athletes perform better and general consumer goods with endorsements from athletes.
A significant illustration comes from STAT Sports, a business well-known for giving athletes GPS-powered performance statistics. In November 2021, they unveiled their first US campaign, which centred on the Apex Athlete Series, a sports tracking gadget.
The FIFA-approved device analyses performance using “16 essential parameters, including maximum speed, high-speed running, high-intensity distance, step balance, sprints, stress load, and more.” Several significant “athlete ambassadors” were featured in the advertising campaign, including Megan Rapinoe, Alex Morgan, Tyler Adams, Timothy Weah, and Kayden Clark.
Sports Market Drivers
The sports market is anticipated to grow over the forecast period as a result of rising mobile, tablet, and other electronics penetration rates as well as the introduction of reasonably priced Internet in developing nations
“Sports fans” interaction on social media is becoming more and more important. Sports teams strive to involve the fans by having them participate in surveys or debates on social media. For instance, social media usage soared by 40% in the UK during the lockdown.
Conclusion
People are spending more and more time watching sports events on television, the internet, or other streaming platforms. Businesses are advised to capitalise on the sector of sports marketing because it will remain popular in order to benefit from a number of prospects. Sports marketing’s future will be determined by the teams, athletes, universities, and sponsors. Fans will see more content from their favourite athletes on their social media platforms as more sports players become KOLs or influencers.
Author: Divyansh Tiwari