Making the most out of sponsorship
Marketers may not always believe it, but in sponsorship programs, the metric that matters most is not consumer engagement, but shareholder value. It doesn't matter how many fans show up at a concert or how many golfers proudly boast your logo on their caps; if sponsorship doesn't enhance an enterprise's bottom line, it's not likely to make it into next year's budget.
In a session entitled "Moving sponsorship measurement from lip service to full service" at the 2013 IEG Sponsorship Conference in Chicago, Laren Ukman, IEG's chief executive, and Jim Andrews, the organization's svp, content strategy, demonstrated the kind of contribution sponsorship can make to a brand's financial vitality, as well as to marketing visibility and engagement.
Whirlpool's loyalty metric
"Whirlpool is not the one of biggest or one of the most active sponsors," Ukman observed, "but they are one of the most advanced in terms of metrics."