The rise of automotive marketing can be traced from the conversion of consumers to digital means due to the global pandemic. Simultaneously, the global sports market was valued at about 471 billion US dollars in 2018. As a result, there is now an opportunity of reaching a wider audience through sports and the internet. Along with this comes more competition in the industry as a whole. That is why companies within this industry are finding more ways to stand out and step up their game in terms of strategies and tactics that can bring in more online consumers.
In the past, the car-buying procedure was different compared to today.
The advancements in technology have allowed consumers to find, learn about, and purchase cars in multiple ways. This gives digital automotive marketers a chance to use an abundance of marketing tools and tactics found online. One of the strategies that most of the automotive industry makes use of is sports advertising. Companies and organizations can sponsor a sporting event and have the athletes endorse their products. Here are some of the advantages of automotive marketing through sports advertising and how it can drive more sales.
How it works
The sports industry attracts millions of people worldwide, especially the target audience of most automotive brands and companies. This makes promoting a certain product or service incredibly easier as you can reach out to a wider audience. Through sports advertising, companies can now make use of sports to elevate their marketing efforts. This is usually carried out through different mediums such as television advertising, social media advertising, billboards, and promotions through banners and boards within the stadium of the event. Athletes and their agents are usually selective when it comes to endorsing certain brands and companies as they ensure that these products can still maintain the athletes’ professional image.
In the case of automotive marketing, incorporating business promotions into the sports industry made the most sense since most of the audience following sports would be the same ones that could take an interest in the automotive industry. Some of the most followed sports are football, tennis, baseball, and so much more. The FIFA World Cup and the Olympics are two major events that have the entire world drop whatever they’re doing to watch the entire event. Families and friend groups gather to watch the televised event together.
A great example is the active partnership of Kia with different sports from all over the world. Kia has become one of the biggest car companies globally, reaching different countries and cities as they have officially partnered with FIFA.
Advantages of using sports advertising
There are different ways sports marketing can benefit companies. As sports have grown incredibly popular among different audiences worldwide, the sports and business industry work hand in hand to promote each of its fields to an ultimately greater reach.
One of the benefits of sports marketing is the opportunity to build brand awareness throughout the world. As companies sponsor or partner with different sports, they are also entering new territories and connecting with various audiences that may or may not have known who they are and what they are all about. Establishing an international presence can be a great way to boost revenue and overall growth. High-profile sponsorships can have a huge impact on the company’s image and reputation as well. Raising brand awareness can positively reflect on your company’s regular brand health tracking research. It is one of the factors that broadly impact the overall success of a brand or company.
You can also heighten consumer engagement and satisfaction with the use of sports advertising. Partnerships can open doors for companies and help them create different events and activities that can encourage participation and catch new potential customers’ attention. These events can kickstart the promotions of different products and deals from which car fanatics can benefit. As the activities end successfully, it increases the loyalty and satisfaction of its audience, which increases the chances of potential consumers to spend their money on your company enthusiastically.
Ultimately, entering a market where existing brands are already popular can be a difficult move to make. However, working on partnerships and building your brand profile through other sponsorships can steadily help your company progress and grow. Creating positive relationships and associations with renowned athletes and sports events can improve your brand’s presence. Having more people that acknowledge your brand and are encouraged to follow your events and products closely can lead to more revenue in the long run.