We are seeing big growth in the amount of money being spent on Sports - globally and here in India (much higher growth rates in India). But one thing is common across almost all major sports sponsorships - companies ‘believe’ that this is money well spent, without having the data to prove it is.
Here are some revealing statistics to consider. As per a recent article -
1. Only 35% of marketers consistently measure impact of sponsorships
2. A full 25% of marketers do zero or near-zero data collection and analytics on sponsorships
3. Only 47% of marketers have a method to try to quantify value
4. A massive 80% feel the need to do something about this
At Fantain, we are working with one of our key customers to address this problem. We are building a Sponsor Effectiveness Dashboard - that quantifies the value a sponsor gets in spending money on sports. The model we are building is exhaustive and captures the value across many channels of reach - both direct and indirect, both online and offline. While the model per se will be refined over a period of time, we are sure that it will be far better than dropping coins in the pond and hoping your luck will turn.