Tom Gent, Co-Founder and Head of Creative at Founder Creative, explores how financial brands can reach a wider audience through sports advertising.
Not many one-off events offer the level of exposure that sports can provide. For example, the 2024 Olympics, with 36.1 million viewers in the UK (59% of the population) watching for at least 15 minutes, presented a massive opportunity for brands to engage with a vast audience.
Interaction isn’t just limited to watching major sporting events – people actively share their experiences on social media all the time. This blend of exposure, reach and emotional connection is where finance brands can really cash in.
However, many struggle to find the starting line.
However, by crafting authentic campaigns, finance brands can leverage the power of sports to build lasting connections with their customers, driving success both on and off the field.
Expand your horizons
Engaging with sports through social media offers brands an accessible way to join the conversation.
By tapping into the skills and reach of creators and influencers, brands can see significant benefits. Even without sponsoring a major sporting event, you can still participate and be a part of the action by creating compelling content to boost your brand’s visibility.
One of the advantages of social media is its cost-effectiveness compared to traditional advertising, while also enabling brands to target a broad audience. Platforms like TikTok generally allow your brand to connect with younger users while Facebook and X provide access to different demographics, offering a chance to craft tailored content that reaches diverse audiences. Social media also allows brands to be reactive and become part of any major moment.
When engaging with sports fans, it’s crucial to stay grounded.
As proven by spending in modern football’s transfer market, a large budget alone won’t guarantee your goals will be met.
Effective strategy matters just as much as spending.
It’s essential to be mindful of how your brand is perceived, especially when addressing a sensitive and complex topic like personal finance. Your message needs to feel authentic and aligned with your brand identity, rather than simply delivering a heavy-handed financial pitch.
Take the historic partnership of Barclays and the Premier League.
Their long-term partnership transformed the “Barclays Premier League” into a global brand, cementing both the league and Barclays’ international reputation.
Whilst the messaging during the partnership wasn’t especially targeted, Barclays’ association with such an adorned institution helped them connect with a vast audience of potential customers.
In fact, the original strategy was so successful that Barclays are attempting to replicate it with the women’s equivalent: the Barclays Women’s Super League.
With sports, it’s easier to pick something that feels relevant to the brand in some way. For instance, a software company collaborating with a football team to analyse data makes perfect sense. It gives the partnership an authentic connection and meaning to consumers, making the partnership make sense and seem cohesive.
If a brand can build a narrative around why the partnership is a good fit, that’s usually an excellent starting point. It helps to connect the dots and strengthen the relationship with the partner.
There are countless open goals for finance brands to engage with the world of sports. By thinking creatively and approaching the market authentically, they can establish the lasting connections with sports fans, whether they have the budget of Manchester City or Stockport County.
Do your due diligence
Major sporting events have a global reach that captivates both dedicated fans and casual viewers alike. For finance brands aiming to get in the game, this translates to a diverse target audience that spans a wide spectrum of society.
Sports engages people of all ages – from the young to the old and everyone in between.
With abundant positive sentiment, record-breaking achievements and emotional narratives surrounding these tournaments, it’s advantageous for brands to associate themselves with something or someone that resonates deeply and inspires engagement.
However, investing in sports is not without its challenges. It’s crucial for brands to ensure that any sporting event, brand or athlete they partner with aligns with their core values or the partnership will have a yellow card before it’s even begun.
It goes without saying to steer clear of any governing body or association involved in allegations of corruption for example. Partnerships need to be pristine and effectively represent your brand to have a chance at success.
When it comes to athletes, choosing the right personality to associate with is critical as your brand will become closely linked with theirs.
The rise of social media has given athletes a platform to express themselves, so it’s important to monitor what they say and have said historically, as after all, their actions and statements, whether you agree or not, will reflect on your brand’s ethos.
Ultimately, being highly selective with your partnerships is key. You should have the full confidence in the athlete, brand or governing body you choose to work with, as once you’re associated with someone, that connection is out there forever. But get it right, and you really can strike gold.
