Sports marketing has changed a lot. Back just 30 years ago, you would see cigarette advertisements and scantily clad women every time you watched a sports event. Now, all that is a cringe-worthy reminder of the past. As a marketer, it's important to keep up with the industry you're working in. This guide will look at some of the biggest trends in sports marketing.
Since sports began, people have been interested in the personalities behind the athletes. Magazines were full of interviews with sports stars and photographers were attracted to them like moths to a flame. However, the pressure on sports stars today is even greater. With Instagram, YouTube, and other social media channels, sports stars are closer to their fans than ever before. For brands, that means an even greater opportunity to partner with stars and benefit from their success.
When Muhammad Ali refused to be inducted into the army in 1967, he was sentenced to five years in prison. At this time, it was super rare for a sports star to take a political stance, especially one that would result in prison time. However, more and more sports stars are standing for what they believe in. With the financial power and huge profiles that sports stars have, they can have a huge impact on their fans.
Gender equality is one of the most important issues of our time. This has lead to the rise in women in sports. More female athletes are competing at a high level and more women are watching sports. As a marketer, this is something that has to be considered when creating adverts and marketing materials. The time of cheerleaders and pit girls is over. Now, it's the time for female sports heroes.
With internet access and smartphone technology on the rise, sports betting has become a billion-dollar industry. It was once a pastime associated with older men and high-end sports events. Now, it's something that anyone can do. Horse racing today is a completely different industry and the change has been seen in other sports, too.
Surprisingly, TV ratings for sports have been dropping for a number of years. It's not exactly clear why people aren't watching sports on the TV as much but it could be something to do with the easy access to other media. Either way, brand advertising on the TV isn't as valuable as it used to be. That means more opportunities for social media and online advertisers.
These days, consumers have all the power. Brand loyalty is almost a thing of the past. Because consumers can easily shop around, find a better deal, and read reviews of items, they are less likely to be loyal to just one brand.
This means that businesses need to work extra hard to retain customers. They should be constantly working on their online communities and finding ways to stand out in an increasingly competitive industry.