Among the millions of social media posts everyday, there are very few promotional campaigns & posts that make us sit up and take notice. Although fans eagerly follow their favorite sports teams and athletes on social media, creating and running successful social media campaigns which hold their interest and result in increased engagement and ROI for themselves and their sponsors is a huge challenge faced by organizations across sports.
Impact on sponsorships
The proliferation and rapid rise of social media has had a huge impact on the sponsorship industry. The engagement-based social media platforms have provided avenues for sponsors to accurately measure the value and ROI of their sponsorships and to make sponsorship decisions rooted in data and insights rather than assumptive metrics. Recent studies have shown that sponsors consider a positive social media activity as the second most important metric when evaluating sponsorships.
With social media accorded great importance by sponsors, it is essential for rights holders to understand how to be effective on their social platforms and how to use social media to prove & improve the value driven for sponsors.