Experts raise doubts over 2012 sponsorship value 30/11/2009 |
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Some of the biggest names in the sponsorship industry have questioned the value of sponsoring the 2012 London Olympics.
More than 200 leading figures from across the industry were asked at the European Sponsorship Association’s annual Future Sponsorship conference whether they thought domestic Olympic packages (Locog) were good value for money.
A massive 79% said no, while 66% did not think that tier one Olympic sponsorship packages represented good value to brands.
Meanwhile, there was also a call for sponsorship to be reclassified and possibly even renamed to more accurately reflect its role in the marketing mix.
American sponsorship guru Lesa Ukman pointed out that any financial services company in the US that had received help from the Government was no longer allowed to undertake sponsorship programmes.
ESA chairman Karen Earl responded by saying: “What we heard about the American market and the new restrictions imposed on the financial institutions is extremely worrying and shows that there is still a massive lack of understanding of the potential of sponsorship as a marketing discipline.
“It is still seen by many as having philanthropic connotations and at a corporate level providing opportunities for excess and waste. The sponsorship industry is now worth in excess of Euros 8bn across Europe and for the leading companies and brands it is an absolutely vital component of their overall marketing plans.”
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