Player sponsorship has become a common practice in the sports industry, with many top athletes being sponsored by major brands. Recently, the news of Erling Haaland signing a deal with Nike has sparked discussions on the benefits of brand sponsorship for players. In this blog post, we will delve into the advantages of such deals and how they benefit both the athlete and the brand.
Increased Exposure and Brand Awareness
- The enhanced visibility sportspeople gain as a result of commercial sponsorship is among its most important advantages. An athlete who signs a contract with a well-known company becomes that company’s spokesperson. They may be able to reach a larger audience thanks to this exposure, which will grow their fan base and increase their appeal. Athletes are more likely to win sponsorship deals in the future as their fame grows. As its logo and products are publicly exposed to millions of followers globally, the company also gains from this enhanced exposure.
Boost in Revenue and Earnings
- Athletes can benefit from brand sponsorship agreements since they can make a sizable profit from these alliances. Top sportspeople are being paid handsome sums of money by brands to utilise their likeness and promote their goods. This extra money may be used by athletes to further their careers, upgrade their facilities for training and employ better instructors, which will ultimately improve their performance in their chosen sports. Due to the relationship with the athlete and the increased brand visibility, the brand also gains from this collaboration in terms of increased sales.
Enhanced Credibility and Trust
- When a recognised company supports an athlete, it increases their stature and can increase fan trust-building. Supporters perceive the athlete as being affiliated with a reliable and respectable brand, and this affiliation might enhance their public perception. The brand gains from this relationship as well because of the athlete’s association, which enhances their credibility and reliability.
Long-term Brand Loyalty
- When an athlete accepts sponsorship from a company, they develop a loyalty to the company that may last longer than the sponsorship agreement. Even after the sponsorship agreement has expired, athletes are frequently observed utilising items from the businesses they are affiliated with. The brand may be able to boost sales and hold onto its market share without an official partnership.
In conclusion, brand sponsorship of athletes may be very advantageous for both the company and the individual. It can promote brand recognition and visibility, raise sales and profits, build credibility and trust, and encourage steadfast brand loyalty. Athletes are likely to sign more brand sponsorship agreements in the future as the sports business expands.
Did you enjoy this blog? Why not have a read of our blog on the news that Expedia are renewing their sponsorship of Liverpool.