Everyone talks about how important MOMENTUM is. In sports, but also in marketing. The use of momentum is propagated as a successful and efficient marketing tactic. In sports, momentum is often described as the instant when one believes in oneself and from then on everything runs smoothly all at once.
In marketing it seems to be a little more complex. Momentum describes the situation when consumers have "waited" for a product or service and the business develops as desired right after market launch. We could also say: the right product, in the right form, at the right time, in the right place. Everything fits. It is important to recognize trends and needs early on and to use them effectively for the specific situation of the company. Actually, not much news?
How do companies create or use the tactics of momentum for their sponsorship activities?
A basic prerequisite is permanent and well-founded market observation (trends, affinities, development of the target group's needs, changes in the event market). The data collected should be used for periodic review of the following concepts and measures:
- Target groups and their affinities
- Sponsorship strategy: sponsorship areas, topics, goals (at least every 2 years)
- Sponsorship portfolio: Projects and partners (once a year)
- Sponsorship activation: conception, measures (ongoing)
In a first step, a process with a focus on goals, needs and current trends (market research with appropriate tools and budget) must be set up for this market observation. It should not be forgotten that sponsorship partners can also be important suppliers of data.
Apropos sponsorship partners: They also have to keep up with the times, use the momentum and come up with new formats (biathlon in a stadium environment, new forms of competition in ski jumping, Hopman and Laver Cup in tennis, e-sports, etc.). A periodic exchange with the sponsorship partner also on this subject is of eminent importance for the success of the sponsorship cooperation.
As an independent consultant, I can provide a neutral external perspective for both the sponsor and the sponsored party in this process. A certain distance to the activities and the sound knowledge of the market can thus be used in a targeted manner.
For this process to be successful, a high willingness to change is absolutely necessary. Existing concepts must be thrown overboard and new, more up-to-date sponsorship measures should be examined and implemented, if necessary. This is the only way to understand the momentum in the market and to implement it in the best possible way for the company's goals.
The use of momentum should not lead to actionism, but must be consistently driven by analysis and concepts. What works well and still fits, should under no circumstances be weakened by unnecessary adjustments: Never change a winning team!
Sponsorship is shaped by emotions, relevance and proximity to the needs / affinities of the target groups. The market momentum needs, therefore, to be understood and integrated into one's own activities. This applies above all to sponsorship activation, but also to the composition of the portfolio.
As an independent consultant, I can represent the neutral outside view for both the sponsor and the sponsored party in this process. A certain distance to the activities and the sound knowledge of the market can thus be used in a targeted manner.