What is Sports Marketing?
Sports marketing refers to promoting products and services through the use of sports events and the endorsement of athletes and sports teams. It also helps in the promotion of athletes, sports teams, and sporting events.
This type of marketing does not involve a particular strategy. It uses sports to help the marketing efforts. When a major sporting event is taking place, there will be high interest and people will flood to the venue. At this place, sports marketing would be effective.
The sports market is implemented on a variety of platforms, including billboards, boards that are inside the stadium, television advertising, print media advertising and social media advertising.
Types of Sports Marketing:
1. Marketing of sports
2. Marketing through sports
3. Grassroot sports marketing
Uses of Sports Marketing:
• Brand Recognition
By having well-known athletes and sports teams endorse their products; organizations can gain the trust of their fans. A brand is trusted by a consumer when their favourite athlete promotes the brand.
• Promoting new products
The credibility of the new products is enhanced by sports star’s endorsements. Sportswear and health food products especially benefit from this marketing strategy.
• Raising viewership and revenue
As people watch the events both in person and at home and follow the teams and sports of those associations, revenue will rise along with interest.
Advantages of Sports Marketing:
Sponsorship of athletic teams and events benefits organisations since it generates income. In turn, the team endorses their products in return. Fans of the sports will catch up with the endorsement and will be encouraged to use the product, which in turn will increase the sales and the profit.
Example of Sports Marketing:
• Coco-Cola- It advertised the drink with the slogan “Have a Coke and a smile”. Here, the footballer Joe Green was signing an autograph for a young fan.