Managing Sport Business
Knowing what you want, arming your self with all of the knowledge you need after which backing yourself to make an influence are the three steps to success. The Stanford economist explains how troves of digital information will reshape competition. Sport sponsorship no longer means merely attaching a corporate name to a stadium. Rather, it has become a triangle of affiliation between the team, the sponsor, and the passionate fan. It entails “taking two equal products and creating some affinity between them via social currency, not exhausting currency,” said Steve Pamon, head of sports and leisure advertising for JP Morgan Chase. Fans are typically fairly lively in liking or following a brand on social media because of its association with a staff, and 30% of fans who use social media to attach with a sponsor later make a purchase order due to the brand’s affiliation with the staff. However, if the association doesn’t really feel authentic or comes on too strong, it could just as ea...