Target Audiences - Sponsorship in Marketing - Cornwell

Summary

In the video script titled 'Sponsorship and Marketing,' Bettina Cornwell discusses various target audiences for sponsorships, emphasizing the importance of aligning with consumers, channel members, government or community, and employees. She highlights the significance of understanding short-term and long-term goals for each audience, such as raising awareness, building team spirit, enhancing reputation, and fostering employer branding. Cornwell also stresses the need for strategic thinking in identifying the sponsor's target audience, particularly focusing on potential customers and those who might switch to the sponsor's product, rather than just matching demographics.

Takeaways

• 🎯 Sponsorship is a relationship between a brand and an event, often used for communication purposes.
• 👥 The primary target audiences for sponsorship include consumers, channel members, government or community, and employees.
• 💡 Consumers are targeted for awareness, image, and ultimately, product purchase or loyalty.
• 🤝 Channel members are targeted to build team spirit and facilitate cooperation, as seen with Chick-fil-A's Peach Bowl sponsorship.
• 🏢 Sponsorships can enhance a brand's reputation and foster international understanding, exemplified by Gillette's World Cup sponsorship.
• 👩‍💼 Employees are engaged through internal team building and employer branding to attract potential future staff, like Enterprise Rent-a-Car's collegiate sports sponsorship.
• 📈 The effectiveness of sponsorship is often discussed in terms of demographic overlap with the sponsor's target market.
• 📱 In the telecommunications industry, the target audience might be 'fence sitters' or those not currently using the sponsor's product.
• 📉 Multi-year contracts can limit the potential audience for sponsors, as customers may already be committed to a different provider.
• 🔍 Sponsors are particularly interested in reaching new or untapped audiences where their product has not been previously used.

Q & A

What is the primary focus of the discussion in the script?

The primary focus of the discussion in the script is on understanding different target audiences for sponsorship and how to effectively communicate with them.

Why are consumers an important target audience for sponsorship?

Consumers are an important target audience for sponsorship because they are often looking for awareness or image, with the ultimate goal of purchasing or trying the product, potentially leading to loyalty.

What role do channel members play in sponsorship?

Channel members play a role in sponsorship by potentially increasing awareness and providing team-building opportunities, as exemplified by Chick-fil-A's sponsorship with the Peach Bowl involving their franchises.

How does sponsorship help in building a company's reputation?

Sponsorship can help build a company's reputation by associating it with positive events or causes, which can lead to international understanding and soft power, as illustrated by the example of a country's products sponsoring events like the World Cup.

What is the significance of employee sponsorship in terms of human relations?

Employee sponsorship is significant for human relations as it can be used for team building, fostering esprit de corps, and enhancing employer branding, especially when targeting potential future employees.

Why is it important for sponsors to understand the demographics of a fan base?

Understanding the demographics of a fan base is important for sponsors to ensure that the target market aligns with the fan base's characteristics, such as age or gender, to effectively reach their desired audience.

What is the concept of 'fence sitters' in the context of sponsorship?

In the context of sponsorship, 'fence sitters' refers to potential customers who have not yet purchased the sponsor's product but are open to changing their preference, making them a key target audience.

How can a sponsor's target audience differ from the fan base of a sponsored event?

A sponsor's target audience can differ from the fan base of a sponsored event because the sponsor is often more interested in reaching potential customers who are not currently using their product or service, rather than just the event attendees.

What challenges might a sponsor face when trying to reach an audience that is already committed to a competitor's multi-year contract?

A sponsor might face challenges reaching an audience already committed to a competitor's multi-year contract because these individuals may be less likely to switch to the sponsor's product or service during the contract period.

How can a sponsor identify an untapped market within a fan base?

A sponsor can identify an untapped market within a fan base by looking for segments of the audience that have not previously used their product or service, indicating a potential for new customer acquisition.

Why is it crucial for sponsors to have a clear strategy for targeting specific audiences?

It is crucial for sponsors to have a clear strategy for targeting specific audiences to ensure that their sponsorship efforts are aligned with their marketing goals and to maximize the return on their investment.