• Loading stock data...
Thursday, December 12, 2024
The 2024 Best Employers in Sports Award winners have been announced! See the full list of winners

Webinar: The Evolution of Technology in Sponsorship

  • Two representatives from KORE Software discuss how technology in sponsorship is evolving.
  • How the evolution of this technology is changing the way brands and rights holders are approaching sponsorship.

The sports and entertainment world has evolved rapidly in recent years – and they’ve taken a multitude of supporting industries with them. New engagement platforms have changed the way brands and rights holders model sponsorships, driving an evolution of the tools used to manage and evaluate them.

Front Office Sports sat down with two representatives from KORE Software, Marc Roots, Chief Product Officer, and Scott Tilton, EVP of Brand Sponsorship Analytics and Co-Founder of HookIt, an AI-powered sponsorship analytics tool, recently acquired by KORE.

Hear about the current state of the sports and entertainment sponsorship industry, key trends in sponsorship models, and how the technology around these sponsorships is changing the game.

On the current trends in sports and entertainment sponsorship models (9:45)

Marc: “Partnerships are feeling and becoming a little bit more dynamic. Rather than this approach of a rights holder measuring and providing a partnership recap once or twice a year, you’ve started to see this shift of more of an on-demand partnership recap. You have something more centralized where both brands and rights holders are looking at a common set of metrics as often as a daily basis, more often on a week-to-week, month-to-month basis. As a result, you’re seeing things like assets getting swapped out, activation plans changing, different campaigns running, choosing different social channels that might be able to hit certain types of targets. So you’re seeing these partnerships become a lot more dynamic, changing on the fly and it’s really data driven.”

On how the technology has changed within the sports and entertainment sponsorship industry (25:15)

Scott: “There are two ways that we look at the technology. One is the tools and platforms that are available to foster these programs. This is obviously something we’re very focused on – how do we get brands and rights holders speaking the same language, and collaborating via a tool set and a platform that will help ensure that these goals and objectives are being met? On the other side of things, we have technology that has really further complicated the world of sponsorship. The change of fandom where fans are now consuming the majority of their content on social, they prefer direct engagement with the athletes, teams and leagues, and it’s a lot more short form content. So brands are having to adjust their content strategies, and work with their rights holder partners on how to execute campaigns. Then when you look at changes in content consumption and a lot of the technology that is driving that, you have AR, VR, the Metaverse, the adoption of cryptocurrencies – all enhancing the fan experience, and also creating new avenues for brand integration and sponsorship.”

On how brands and rights holders are responding to the extreme growth of sponsorship capabilities (36:15)

Marc: “I think the industry is really embracing this change, and really trying to push for it. I think you’re just seeing drastic differences in where people are in that life cycle. The ones that are reaping the rewards are the ones who have made the organizational decision to say, ‘We are going to be more transparent, we are going to be more data driven, we are going to be open to getting into that world.’ The technology is there to help that curve, but it really starts with the organizational decision and alignment that you can create with your partners, and the tech is there to support that.”

Scott: “I couldn’t agree more. The technology is there to be able to accomplish a lot of this. It’s definitely organizational decisions that need to be made to evolve the thinking and the thought process. It helps establish clear goals, clear objectives, getting KPIs so you can compare measure your partners apples to apples, and really start collaborating with your partners in a more effective way. Once all these elements are in place, it will make everything so much easier. The data sources may change over time because there will always be new platforms and new channels to engage fans, but it really starts with that framework and having that right mindset in place to be able to actually execute and pull it off.”

Linkedin
Whatsapp
Copy Link
Link Copied
Link Copied

What to Read

Nov 15, 2024; Arlington, Texas, UNITED STATES; Mike Tyson (black gloves) fights Jake Paul (silver gloves) at AT&T Stadium.

Netflix Spectacle Made Tyson, Paul Top Trending U.S. Athletes of 2024: Google

The Yankees and Dodgers were among the top trending sports team searches in 2024.
Oct 22, 2024; Kansas City, MO, USA; TCU Horned Frogs center Sedona Prince (13) talks to media during Big 12 Women’s Basketball Media Day at T-Mobile Center.

Athletes in Landmark House Case Ask for College Players’ Association

Plaintiffs in the House v. NCAA case want more than just revenue-sharing.
Nov 2, 2024; Ann Arbor, Michigan, USA; Michigan Wolverines cheerleader runs with a flag before the game against the Oregon Ducks at Michigan Stadium.
opinion

College Football’s Billionaire Backer Era Begins

Is this the new normal in CFB recruiting?
Sponsored

High Prices for High-Drama College Football Conference Championships

CFB’s new-look conferences—and title game matchups—are having a direct effect on demand for tickets.

Featured Today

Nov 2, 2024; Denver, Colorado, USA; Detailed view of a Wilson NBA basketball held by a referee during the second half between the Utah Jazz against the Denver Nuggets at Ball Arena

‘Obvious Weak Point’: Refs Remain an NBA Gambling Concern

A season after Jontay Porter, the biggest risk may not be players.
LA Galaxy forward Dejan Joveljic (9) celebrates with midfielder Riqui Puig (10) after scoring a goal against Seattle Sounders FC in the second half in the 2024 MLS Cup Western Conference Final match at Dignity Health Sports Park
December 6, 2024

With or Without Messi, Major League Soccer Is Barreling Into the Future

After the Cup final, the league looks to accelerate its growth.
Dec 18, 2022; Lusail, Qatar; FIFA president Gianni Infantino claps during the awards ceremony after the 2022 World Cup final between Argentina and France at Lusail Stadium.
December 2, 2024

FIFA Wants More Matches. Resistance Is Growing Inside the Global Soccer World

Resentment and frustration over expanded schedules is nearing a breaking point.
November 30, 2024

U.S. Investors Are Gunning for England’s Small Soccer Clubs

Is another Hollywood-like success story possible among the U.K.’s smallest clubs?

UFC’s Vegas Sphere Fight Should Set Records

The MMA fight has big aspirations and a budget to match.
August 13, 2024

Duael’s One-On-One Racing Brackets Are Yet Another Stab at Saving Track

Duael will debut in March 2025 with the inaugural Duael 100.
September 8, 2024

Guardian Caps Make NFL Debut

Multiple NFL players wore Guardian Caps over their helmets Sunday.
Sponsored

How UBS Crafts Impactful Partnerships Across Sports, Arts, and Culture

As UBS continues to expand its impressive array of sports and entertainment partnerships, the company solidifies its position as a leader in wealth management.
August 11, 2024

Guardian Caps Have Arrived in the NFL—Ahead of Schedule

Colts star Jonathan Taylor strapped one on for Sunday’s preseason game.
August 5, 2024

How Omega Timing Determined Noah Lyles Won Olympic Gold

Omega touches every corner of the Olympics.
The Adidas ball has changed over the years.
July 25, 2023

The Most Advanced Tech at the Women’s World Cup Might Surprise You

This year’s OCEAUNZ introduces connected ball technology to the women’s game.
Sponsored

Rewriting the Sports Media Playbook

WSC’s highlight automation improved Clemson’s content strategy and overall growth.