Fanalytics
Emotions are a powerful force shaping our decisions and perceptions. They often influence our choices unconsciously, even before we have a chance to rationalize our decisions. Brands that tap into these emotional undercurrents can evoke strong responses in their target audience, fostering deeper connections and elevating their overall brand perception.
Effective emotional branding goes beyond merely evoking positive feelings. It's about identifying the specific emotional triggers that resonate with your audience, and then weaving them seamlessly into your marketing narrative. This approach allows you to create a compelling story that transcends conventional advertising, drawing your audience closer to your brand.
Using insights
Ultimately sponsorship, is trying to influence a behaviour. It is best served when reaching the section of the audience most receptive to the sponsor. This is where data science features.
With millions of fan data points, clubs and teams have insight into their supporter's behaviour. They may find themselves using techniques like clustering to group fans to target particular profiles and enable club partners to service their needs.
Rights holders know that if they can segment fans, and model behaviours, they can deliver relevant experiences. The result can be an improved fan engagement from well designed campaigns. Additional revenue opportunities for the sports club can follow.
Sponsors can also utilise this insight to deliver targeted content. A great example, is Supponor relaying virtual LED board advertising in Thai and Chinese languages, in English football, to advertise to Asian fans.
But other topics may emerge.
Do race and gender still play a part who attends football match? If so, how does it change the content shown at live matches compare to what is on digital channels? Are minority groups more or less likely to purchase merchandise on a stadium visit? Is there a group of fans that spends more online? Or is there a particular type of fan more likely to engage with the club’s partners?
The questions are rooted in data. Understanding them is a way to enhanced monetisation of fans.
Forex brokers
But how can sponsors use this information? How can they supplement their own understanding of their partner's customers?
A trading firm will already know their own customers details (age, location, gender, income etc). They may even be able to derive personality traits from their trading style. However, they may be able to go further.
They can segment profiles and match them to similar groups within the club’s database.
By deriving real data on how fans behave and spend, in person and on digital channels. This insight can be used to estimate the likelihood of fans converting to new customers.
Armed with this understanding, the sports organisation's commercial team may be able improve sponsor targeting. They can target partners that are more likely to succeed with their club and fan base.
Knowing this enables the sponsor to maximise their return, leading to longer and more fruitful partnerships.
Building an engaged customer base
Both sports clubs and financial markets firms will have an eye on churn.
For clubs, it’s season ticketholders and memberships that fans choose not to renew. For trading firms it is accounts that are opened that become dormant.
A financial markets sponsor may be effective in cross selling to fans of a team. But this does not mean the conversion into an active trader will happen.
By knowing the profile of fan acquired. The trading firm will be better equipped to estimate the average revenue per user (ARPU). They may also become better equipped to generate content to convert their target user.
Building an engaged customer base
Both sports clubs and financial markets firms will have an eye on churn.
For clubs, it’s season ticketholders and memberships that fans choose not to renew. For trading firms it is accounts that are opened that become dormant.
A financial markets sponsor may be effective in cross selling to fans of a team. But this does not mean the conversion into an active trader will happen.
By knowing the profile of fan acquired. The trading firm will be better equipped to estimate the average revenue per user (ARPU). They may also become better equipped to generate content to convert their target user.
Summary
- Rather than target all fans, brands such as Forex brokers do well if they can segment audiences and understand who they can reach through a sponsorship.
- Rights holders will increasingly need to engage a data-driven approach to help brands and sponsors target new customers, particularly in a competitive Forex broker adverising market.
- The cost of user acquisition is rising for the financial services and continued engagement of fans (and reducing churn) is a more cost effective strategy.
