Why it matters
British financial services company Barclays has a history of high-profile and successful sponsorships, but by formalising its evaluation metrics across different geographies and sports, it has been able to make more sophisticated investment decisions.
- Sponsorship is a long-term play; with correct measurement techniques, short-term impacts can be seen but should not be expected.
- Measurement and insights need to be aligned with and, crucially, use the same terms as the rest of the corporation.
- There is much to be learned from other brands that have followed similar paths before: a combination of their experience and your brand’s unique modelling is necessary.
Short-termism is a common disease with multiple causes. In the marketing sphere, says Barclays' Aled Richards, an insight manager, it’s not necessarily of a lack of money so much as the short-term nature of the top marketing role. Among the top 100 top spenders in the US, the average tenure of a CMO is now 43 months according to the executive search firm Spencer Stuart: three and a half years.