Sponsorship marketing is one of the fastest growing forms of consumer outreach today,” said Voccii partner, Gayle Ireland."But methods to measure results have not kept pace with increasingly complex marketing programs.
Charlotte, NC (PRWEB) January 14, 2014
Voccii, a leading Charlotte-based research, branding and strategy firm, has introduced an innovative research approach that vastly improves how sport sponsors measure results from their marketing investment.
The proprietary research tool, called “FanMetrics™,” is solely licensed to Voccii. It was developed by Dr. Drew Rivers, PhD, founder of Phoenix-based Chronicle Research and a silent partner in Voccii.
“Sponsorship marketing is one of the fastest growing forms of consumer outreach today,” said Voccii partner, Gayle Ireland, noting that in 2012, U.S. companies spent more than $18 billion in sponsorship. Globally, businesses spent more than $51 billion. “But methods to measure results have not kept pace with increasingly complex sponsorship marketing programs.”
Traditional measurement approaches focused largely on counting the number of impressions made by brands in front of an audience. But sports sponsorship offers prime opportunities for brands to build relationships with people through leisure activity -- sport. Counting impressions does not reveal the value or depth of relationships. Sports evoke passion on a level most brands cannot begin to reach.
“With today’s technology, impressions are the easiest thing to count and measure,” noted Ireland. “But there is so much more going on when it comes to a consumer’s relationship to a brand presented through a sport. In the design of FanMetrics™, we discovered that a great deal of fan behavior takes place within fan communities. These communities influence what people watch, what people like, and what people buy. Yet there is not enough study of the fan community. Impressions tell sponsors almost nothing about how their marketing program is driving consumers through the steps to product purchase, repeat purchase and brand loyalty, which is really what all this is about.”
Ireland noted many sponsors today try to cobble together data from a wide variety of sources. This approach is challenging, and disparate data sets can never be statistically accurate or can lead to faulty conclusions. Some sponsors commission highly customized research tailored for their needs, but this can be expensive and challenging to replicate year-on-year for tracking purposes.
FanMetrics™ provides detailed, robust data incorporating the complexities of sponsor activation, and reports results all in one study that can be easily and affordably tracked over time, Ireland said. The method is also the only research approach today that enables sponsors to separate “casual fans” from “avid fans,” letting sponsors focus investment on people who are most likely to engage with their brand.
FanMetrics™ isolates and studies the “fan community,” -- groups made of up “avid fans” that influence each other. This helps sponsors learn what influences and is important to the fan communities which in turn, informs their marketing strategies.
“Fan communities are vital for sponsors to understand,” said Ireland. “These are the passionate people whose lifestyle might revolve around a brand or a sport, who tattoo brands to their bodies, wear branded clothing, attend events, track personalities, and would not be caught dead with a competitor’s brand. Any sponsor wants to create more of these people, because these are the folks who buy more of the branded product than anyone else and act as brand advocates. “
FanMetrics™ study results can show how much more avid fans are likely to spend on a brand, whether more avid fans are created from the sponsorship program activation, how the program is building a brand overall, and the financial impact of the promotion. FanMetrics™ also can predict what sport or what additional sports would be a good fit for a company or brand.
FanMetrics™ is a proven tool, noted Ireland.
“One insurance company used FanMetrics™ to pinpoint the impact of a NASCAR driver’s winning season on its brand; the tool demonstrated the fit of racing for a retail medicine product and calculated the dollar value of a product’s brand premium. We think this, and much more, is what sponsors really want to know.”
For agencies and clients pressed to become more strategic in every part of their business, Voccii marries market research with strategic insights, branding and consulting. Voccii reports the “what,” the “so what,” and predicts the “what’s next.” http://www.voccii.com