Once this has been completed, and if the sponsorship is still looking like a good prospect, then I will take time to plan an operational procedure to maximize the sponsorship from our side.
One of the most important aspects of any sponsorship deal is that spending does not stop at the sponsorship. Additional costs need to be assigned to properly exploit the sponsorship. That’s the mistake many make, they assume the sponsorship deal in itself will draw more awareness or sales. I believe the sponsorship provides the platform to build a campaign.
The key to successfully implementing the sponsorship is planning. We have to ensure that the sponsorship can be maximized, while not compromising existing activity and projects, so the road map is essential. Another important factor is the timing of the activation. Different sponsors lend themselves to different key dates through any calendar year, which can be exploited more than others.
2. What parameters (measurable or not measurable) do brokers use to determine success for sponsorship deals?
In my experience there are two key parameters. The first being the additional reach that can be gained by the sponsorship. With any new sponsorship, ideally it needs to give the brand access and cut-through to a new audience.
The second parameter is whether there is a profit to be made. And by this I mean in the mid-to-long term. Focusing on short-term returns with any sponsorship is a risky strategy, for a multitude of reasons (not least because the short-term costs of activating any sponsorship are always the most intensive).
I always measure reach first, so as to be able to gauge if the reach percentage ratio is in-line with new business percentage ratio as a result of the sponsorship. It can often be the case that reach improves dramatically, but profits do not, so a correlation between the two is fundamental.
The other reason why reach is measured first is because that always has a quicker pick up than the profit margins. Any success can be measured only after the first three months of the sponsorship, so that there is data to benchmark against.
Once we have a gauge to measure the success against, it becomes a relatively simply task of analysing data. It is important to test new initiatives so as to gain a greater understanding of the nuances to the sponsorship – not all activities apply to all sponsorship so you do need to experiment a bit.
3. What amount of level of engagement can brokers expect via sponsorship deals from sports fans?
I can only speak here from personal experience, but I have never entered into a sponsorship agreement without a strong indication of expected ROI. For TradeNext, we have ensured that there are funnels that can be utilized for a dedicated ROI for our core business, but also our secondary and tertiary operations.
There is a striking correlation between sports fan demographics and our traditional client base, which we are leveraging to great effect. Our engagement through tradenextsport.com for example is surpassing our initial expectations at this stage of the sponsorship, as there is appetite for financial information and sports information.
4. Are there any other creative ways or strategies brokers can use to help promote their product?
The short answer is "yes." There are always creative and inventive routes to market with any sponsorship. We have, for example, ensured that our brand messages are used whenever there is a hole in their inventory, which provides very cost-effective cut-through.
Additionally, our social channels have not only gained in presence dramatically since we started the sponsorship, but have also turned into a relevant profit funnel, which can be directly correlated to the sponsorship.
At the end of the day, if a sponsorship is a good proposition, then these creative opportunities should be apparent at the outset while diligence on the sponsorship is being conducted.
Once this has been completed, and if the sponsorship is still looking like a good prospect, then I will take time to plan an operational procedure to maximize the sponsorship from our side.
One of the most important aspects of any sponsorship deal is that spending does not stop at the sponsorship. Additional costs need to be assigned to properly exploit the sponsorship. That’s the mistake many make, they assume the sponsorship deal in itself will draw more awareness or sales. I believe the sponsorship provides the platform to build a campaign.
The key to successfully implementing the sponsorship is planning. We have to ensure that the sponsorship can be maximized, while not compromising existing activity and projects, so the road map is essential. Another important factor is the timing of the activation. Different sponsors lend themselves to different key dates through any calendar year, which can be exploited more than others.
2. What parameters (measurable or not measurable) do brokers use to determine success for sponsorship deals?
In my experience there are two key parameters. The first being the additional reach that can be gained by the sponsorship. With any new sponsorship, ideally it needs to give the brand access and cut-through to a new audience.
The second parameter is whether there is a profit to be made. And by this I mean in the mid-to-long term. Focusing on short-term returns with any sponsorship is a risky strategy, for a multitude of reasons (not least because the short-term costs of activating any sponsorship are always the most intensive).
I always measure reach first, so as to be able to gauge if the reach percentage ratio is in-line with new business percentage ratio as a result of the sponsorship. It can often be the case that reach improves dramatically, but profits do not, so a correlation between the two is fundamental.
The other reason why reach is measured first is because that always has a quicker pick up than the profit margins. Any success can be measured only after the first three months of the sponsorship, so that there is data to benchmark against.
Once we have a gauge to measure the success against, it becomes a relatively simply task of analysing data. It is important to test new initiatives so as to gain a greater understanding of the nuances to the sponsorship – not all activities apply to all sponsorship so you do need to experiment a bit.
3. What amount of level of engagement can brokers expect via sponsorship deals from sports fans?
I can only speak here from personal experience, but I have never entered into a sponsorship agreement without a strong indication of expected ROI. For TradeNext, we have ensured that there are funnels that can be utilized for a dedicated ROI for our core business, but also our secondary and tertiary operations.
There is a striking correlation between sports fan demographics and our traditional client base, which we are leveraging to great effect. Our engagement through tradenextsport.com for example is surpassing our initial expectations at this stage of the sponsorship, as there is appetite for financial information and sports information.
4. Are there any other creative ways or strategies brokers can use to help promote their product?
The short answer is "yes." There are always creative and inventive routes to market with any sponsorship. We have, for example, ensured that our brand messages are used whenever there is a hole in their inventory, which provides very cost-effective cut-through.
Additionally, our social channels have not only gained in presence dramatically since we started the sponsorship, but have also turned into a relevant profit funnel, which can be directly correlated to the sponsorship.
At the end of the day, if a sponsorship is a good proposition, then these creative opportunities should be apparent at the outset while diligence on the sponsorship is being conducted.
Vladimir Syrov Takes on CEO Role at Zeholding After Serving as CCO at Trive
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Executive Interview with Rauan Khassan | TradingView | FMLS:24
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Executive Interview with Nadia Edwards-Dashti | Harrington Star | FMLS:24
Executive Interview with Nadia Edwards-Dashti | Harrington Star | FMLS:24
Executive Interview with Nadia Edwards-Dashti | Harrington Star | FMLS:24
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Fintech Talent in the UK: The Human Factor Driving Industry Change 🌟
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Executive Interview with Roberto Politano | Finnovate Finance | FMLS:24
Executive Interview with Roberto Politano | Finnovate Finance | FMLS:24
Executive Interview with Roberto Politano | Finnovate Finance | FMLS:24
Executive Interview with Roberto Politano | Finnovate Finance | FMLS:24
Executive Interview with Roberto Politano | Finnovate Finance | FMLS:24
Executive Interview with Roberto Politano | Finnovate Finance | FMLS:24
Executive Interview with Roberto Politano from Finnovate Finance at the Finance Magnates London Summit 2024
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🎥 TikTok: https://www.tiktok.com/@fmevents_official
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Don't miss out on our latest videos, interviews, and event coverage.
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#fmls #fmls24 #fmevents #cyptotrading #DigitalAssets #pepperstone
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates.
Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/
👍 Facebook: https://www.facebook.com/FinanceMagnatesEvents
📸 Instagram: https://www.instagram.com/fmevents_official
🐦 Twitter: https://twitter.com/F_M_events
🎥 TikTok: https://www.tiktok.com/@fmevents_official
▶️ YouTube: https://www.youtube.com/@FinanceMagnates_official
Don't miss out on our latest videos, interviews, and event coverage.
Subscribe to our YouTube channel for more!
#fmls #fmls24 #fmevents #cyptotrading #DigitalAssets #pepperstone
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates.
Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/
👍 Facebook: https://www.facebook.com/FinanceMagnatesEvents
📸 Instagram: https://www.instagram.com/fmevents_official
🐦 Twitter: https://twitter.com/F_M_events
🎥 TikTok: https://www.tiktok.com/@fmevents_official
▶️ YouTube: https://www.youtube.com/@FinanceMagnates_official
Don't miss out on our latest videos, interviews, and event coverage.
Subscribe to our YouTube channel for more!
#fmls #fmls24 #fmevents #cyptotrading #DigitalAssets #pepperstone
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates.
Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/
👍 Facebook: https://www.facebook.com/FinanceMagnatesEvents
📸 Instagram: https://www.instagram.com/fmevents_official
🐦 Twitter: https://twitter.com/F_M_events
🎥 TikTok: https://www.tiktok.com/@fmevents_official
▶️ YouTube: https://www.youtube.com/@FinanceMagnates_official
Don't miss out on our latest videos, interviews, and event coverage.
Subscribe to our YouTube channel for more!
#fmls #fmls24 #fmevents #cyptotrading #DigitalAssets #pepperstone
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates.
Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/
👍 Facebook: https://www.facebook.com/FinanceMagnatesEvents
📸 Instagram: https://www.instagram.com/fmevents_official
🐦 Twitter: https://twitter.com/F_M_events
🎥 TikTok: https://www.tiktok.com/@fmevents_official
▶️ YouTube: https://www.youtube.com/@FinanceMagnates_official
Don't miss out on our latest videos, interviews, and event coverage.
Subscribe to our YouTube channel for more!