Financial Services & Sponsorship – an overview
Sports sponsorships are one of the best ways for a brand to place themselves in front of target audiences and gain brand recognition and recall. Although financial services are not an endemic sponsorship option for sports, brands from this category have found success in sponsoring sports properties for many years. As an essential consumer service industry, financial service organizations strive hard to ensure brand recall among their audiences. While bigger and well known brands such as Bank of America, Mastercard, and Allianz have been sponsoring sports properties for a long time, smaller and newer players such as Key Bank are now also reaping the lucrative benefits of sports sponsorships.
Social media has emerged as one of the most powerful ways to reach fans for brand sponsors. Audiences are more willing to follow their favorite athletes, teams, and leagues on social media and prefer and trust the brands endorsed by those sports properties. Social media has opened new channels for brand sponsors to tell their brand story directly to consumers, either through partnerships with a particular influencer / property or through their own social channels.
The financial services category can be broadly classified into three major sub-segments: Banking, Insurance, and Investments. In this report, two brands from each sub-segment are compared to show which brand has a more effective sponsorship portfolio. These brands include:
- Bank of America
- State Farm
- Edward Jones Investments
Hookit’s financial services brand category report helps sponsors in this category identify how well their sponsorship portfolio performs in terms of social media promotion compared to their competitors. This report also identifies which sponsored properties are the most effective at promoting these brands. To do this, Hookit uses its revolutionary Promotional Effectiveness score developed exclusively for brand sponsors. Download the report now!