A financial institution wanted to understand the impact of initiating a new professional sports franchise sponsorship in a specific market where other business challenges currently existed.
They were specifically looking to understand:
- If they would be able to break-through as a new sponsor at the current investment level;
- What specific tactics/activities were most successful at driving awareness & engagement;
- And, if the sponsorship built positive brand perceptions and created a stopgap of negative fallout associated with the market’s business challenges.
Phoenix MI implemented a multi-wave tracking study to measure quantitative brand and experiential perceptions among market-wide target groups over time, in addition to supplemental on-site surveys to understand the impact of smaller-scale tactics. These surveys, combined with client-provided social listening data, were integrated into the final analysis.
Our research found that, even after one season, the new sponsorship had increased awareness and started to move brand perceptions in a more positive direction. Additionally, based on the tactical learnings, the client was able to prioritize certain tactics and shift funding in the second season to drive even higher impact among key consumer and business groups.
The learnings from this initial market were also used in contract extension negotiations with the sports franchise and to build a similar program in a different market affected by the same business challenges.