How sponsorship deals can help communicate a brand’s core values.
Any self-respecting brand has a corporate mission, its own philosophy, and values, which help to build brand love with its customers. But it isn’t enough to just rely on the written word to bring a brand’s personality to life, it is too impersonal, and frankly quite boring!
Instead, it is key to attract well known and respected names and personalities who embody the same philosophies as the brand and lives and breathes the same values. But how do you make these kinds of partnerships work, and what do they cost?
Asking sporting megastar Conor McGregor to be the face of your advertising campaign does not come cheap. He is one of the top 5 sports stars in the world when it comes to social media presence, with tens of millions of eyeballs watching his every move online. Signing one partnership with McGregor costs around the same amount as it would to partner with the entire UFC MMA Association. It seems crazy that the impact is the same for a whole sporting community as it is for one athlete, but when it comes to somebody like McGregor, his legion of fans makes the investment worthwhile.
A sponsorship deal can be compared to decorating a new apartment. You bought a new apartment, it is cool, of course, but by decorating it the way you want it makes it even better, and more personal to you. Similarly, with a sponsorship deal, you need to put some money aside to make sure that it personal to the brand.
Earlier this year we agreed on a brand partnership with Mike Tyson. What he brings to the table is slightly different from McGregor. He may not have the same online influence, but in our key markets, he is famous for being an ultimate global sporting icon. We wanted to associate the brand with somebody with longevity as a winning legend, embodying the Parimatch fighting spirit but in a different way.
For Parimatch, associating ourselves with global sporting superstars like Tyson and McGregor has helped raise our profile internationally, particularly in markets we don’t have operations in. It takes years to measure the success of sponsorship deals, but agreements with superstars like Tyson and McGregor have already indicated to us that our customers associate Parimatch with being a serious international betting brand, fired up to win.