Sponsorship and Vodafone go hand in hand. F1 and Vodafone are just as linked. But with the news this morning that Vodafone is ending its relationships within F1, what meaning can we take from this? Some questions and answers:
Is this the start of F1 sponsorship revenues declining? No. It is still a premium sponsorship platform that will have interest from brands; think companies from Asia, Middle East, Russia, Brazil…..
Is this an indicator that sponsorship may be struggling to hit brand objectives? For many brands – no. For Vodafone – yes. It has a rich sponsorship history but as the company, brand and mobile industry has evolved, what Vodafone must do to communicate effectively with its consumers has changed.
Is this the start of BIG sponsorships with BIG fee becoming less prevalent? No. Think Manchester United, new global sponsor Chevrolet and recent renewal news with Nike.
Sponsorship isn’t right for everyone. As a marketing tool in a brands arsenal it will have different usages at different points in a brands lifespan. But if it is right for you, at the right time, thought about strategically as a tool for the whole business (not just the marketing department), it is one of the most powerful communication tools that exist.
It’s no surprise that even during tough economic times spend on sponsorship is increasing whilst spend on advertising is decreasing.
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