Sports Marketing Takes Centre Stage in Singapore
World Sports Group, Asia's leading sports marketing agency, takes a look at the adoption of sports marketing and sports sponsorship in Singapore...
The Singapore sports marketing industry is set to take centre stage. With community participation at an all time high along with the recent successes achieved by national athletes in international competition, the development of the Sports Hub and the growing roster of high-profile international events including the first-ever F-1 Grand Prix in the Lion City and the annually-held Barclays Singapore Open, the government’s plans to double the sports industry by 2010 is becoming a reality.
It goes without saying that sport is a powerful catalyst for brands to successfully reach masses of consumers whether domestically, regionally or globally. The growing number of companies who sponsor some of Singapore’s signature events including the Barclays Singapore Open, Aviva IronMan and the SingTel Singapore F-1 Grand Prix is evidence of brands which are successfully taking advantage of sport to impact their market share.
Compared to traditional marketing methods, sports sponsorship offers brands a cost-effective, integrated marketing platform that engages captive audiences through an emotional, lasting connection. Sports marketing which is usually part of a broader marketing mix provides companies with opportunities to build strong brands by aligning their brand values with the values of sport.
Barclays for example, is the title sponsor of the Singapore Open because it has identified golf as the sport which is most suitably aligned with its brand values and which most effectively reaches its target audience for its financial services products. Recently, Mercedes-Benz signed on as title sponsor of the ASEAN Tour (golf) because this top luxury car company believes that the Tour will successfully deliver its brand objectives within Southeast Asia.
Sport also provides sponsors the unique environment to interact and connect with their target consumers through on-screen or in-stadium branding, product promotional tie-ins, hospitality, product sampling and fan competitions.
Emirates Airline, Nike and Samsung are examples of global brands which have effectively capitalized on football’s universal appeal to influence consumers’ attitudes and purchasing trends. Tiger Beer too, has successfully used football to build its market share and profits for more than a decade.
The Youth Olympic Games 2010 is one of many great opportunities domestically for home grown brands to get involved in sports sponsorship and to be a part of Singapore’s sporting history. Already, a host of local companies have come forward including NewUrbanMale.com and Old Chang Kee. The total sponsorship contribution of US$35 million so far is estimated to have exceeded the proposed target of US$13.8 million by nearly three-fold. While this show of support is encouraging, it shouldn’t end there.
By pro-actively getting behind our domestic leagues, teams, athletes and community-driven programs, companies also stand to benefit from these partnerships. Research has shown that to reach the same level of media exposure offered by sporting events through above-the-line marketing methods would cost significantly more and yet generate a much lower return on investment (ROI). Unsurprisingly therefore, more and more global brands are using sports sponsorship as an integral part of their marketing programmes.
With the construction of the Singapore Sports Hub and the increasing number of quality sporting events being hosted domestically and in the region, there is no shortage of opportunities for brands and marketers to get in on the game. There is no doubt, that in the coming years, we will also see Singaporean companies benefiting from sports sponsorships.
About this article
According to Wikipedia, Sports Marketing consist of 3 areas - the advertising of sports and sports association, the use of sporting events, teams and individuals to promote commercial products or services, and the promotion of sport to the public to encourage participation. World Sport Group is Asia's leading sports marketing agency, with a staff strength of 150 and presence in 7 countries across Asia. The company features more than 600 days of sporting events and over 5000 hours of sports programming a year, in over 30 countries in Asia.
