Crunching the Numbers: How to Measure Sponsorship Success
- December 21, 2022
- SponsorPulse Staff
However, 69% of sponsorship marketers report that measuring ROI and proving value is the single greatest challenge they face. At SponsorPulse, our Impact Reports provide brands and properties with the information necessary to determine and communicate the value of their partnerships.
With an impending recession, it’s never been more important for brands and properties to make informed, data-driven sponsorship decisions. Through our robust dataset, we aim to empower our community to establish a baseline from which they can track their progress over time, measure property health, and develop partnerships that make the grade.
How to Measure Sponsorship ROI: 4 Key Metrics to Consider
Unaided and Aided Awareness
If you’re a sponsorship professional, chances are you’re familiar with the Rule of 7—that it takes an average of 7 exposures to a brand before someone will experience awareness. While the legitimacy of the Rule of 7 is an ongoing debate, it’s no secret that brand awareness is a major metric that can determine the efficacy of a sponsorship campaign.
At SponsorPulse, we test for two different types of awareness to determine the health of sponsorships. Our Impact Reports include data for both:
Unaided awareness, or the percentage of respondents who are aware of your sponsorship without assistance. This type of awareness can signify that you are top of mind for consumers, which reflects positively on the health of your sponsorship efforts.
Aided awareness, or the percentage of respondents who are aware of your sponsorship when asked. Aided awareness data collection is only employed when a respondent doesn’t mention a brand or property on their own.
Source of Awareness
So your customers know who you are, but how did they find out about you? In the case of Budweisers' sponsorship of the MLB, 1 in 2 MLB fans were aware of the partnership due to the custom MLB team beer cans. All in all, determining the source of awareness ensures that your marketing budget is allocated to channels poised to capture attention.
To optimize your sponsorship campaign, you need to ensure that the brand or property you want to partner with is a good fit. You wouldn’t try to market alternative meat products at a Stampede, would you?
Calling back to our MLB case study, we found that 68% of MLB fans are beer consumers, with even higher category usage among males, fans living in the West, and those who engage weekly or more.
By measuring target efficiency, brands can direct efforts toward their desired demographic with increased ease.
Impact on Consideration and Favorability
The final piece of the impact measurement puzzle comes down to two standard metrics: purchase consideration and favorability. At the end of the day, your sponsorships exist to drive conversions.
Our Impact Scorecards break down granular sponsorship metrics in a digestible format. As evidenced below, it’s clear that although Budweiser reaches exceptional aided awareness levels, opportunities remain to drive greater impact through activation.
Maximize ROI with Impact Reports
At SponsorPulse, our mission is to empower sponsorship marketers to maximize ROI by making consumer-driven decisions faster. Interested in learning more about our Impact Reports? Preview our 2022 MLB Sponsorship Impact Report today!