Sports Marketing: Heading in a new direction

Today it was reported that Wells Fargo is removing the Wachovia name from one the most successful golf tournaments on the PGA tour as a result of today’s economic climate. 

Wells Fargo acquired the tournament when it bought Wachovia. In an attempt quell negative press and address public perception, Wells Fargo will not host any clients or activate this in any manner. Similarly, last week, Northern Trust received criticism for its sponsorship of the Northern Trust Open. Both Wells Fargo and Northern Trust have received funds from the US government. 

The big question is why is Sports Marketing being called out? It’s about public perception and the media. What’s being lost in these events is critical to the economy on both sides of the equation. The brands that sponsor these events use these vehicles to engage and connect with relevant audiences. Connect in people’s passion. Sports is still one of the few events that touch our lives and that we watch (or do) live. These sponsors also create jobs, support local communities and charities. What is the message we are sending here? There are so many things to pick on in tough times, from guys taking private jets to meet government officials to wasted in-efficiencies within these large companies trying to service their customers.

Where does this leave us? In these tough times we in the sports marketing world will now be required to be more “effective” and “measurable”. We must use all technology to provide efficiency, scale and accountability to our partners. This is an opportunity to raise our game to prove the value we all know is there. Working openly and together we can all help make our businesses stronger.

 

Comments

[MGB]

you are 100% right...
and in the USA you might be able to achieve that...
but outside of it?
you should bear in mind that outside the USA, sports is in the hands of federations or associations that do not care about returns of investment but just power...
look at what FIFA does...
from a business perspective, these guys should be fired...
but they still keep their posts...
or UEFA, where the president is there simply to empower the smaller federations and it is not a business decision...
how can we achieve this change when the people that should lead this change are doing everything in their power to go back to the 19th century?
keep up the good work...

[Robert Tas]

Thanks for the post. I believe technology will enable change. Yes, it will take some time but we all must work together.

I look at Salesforce.com as a great example of change. Only a short time ago software was only sold on a license basis. Companies had to buy servers and hire lots of people. Now software as service has change many companies for the better. I truly believe this will happen in sports and media too.

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I Love Golf...

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