Elevent, North America’s leading provider of sponsorship lifecycle management software, consulting services, and research, unveiled the results of its second Sponsorship Performance survey of adults in the U.S. examining the impact of sports sponsorship on consumer perspectives. Key findings include an increasingly positive correlation between brand sponsorship and consumer purchase intent, improving from 59% in 2022 to 66% in 2024. The in-depth 2024 Sponsorship Performance survey was completed by more than 5,000 adult (+18) Americans, making it one of the most expansive in the industry (more information about the survey methodology can be found at the end of this announcement).
The 2024 Elevent Sponsorship Performance survey also reveals new insights into consumers’ willingness to engage with brand sponsors; the sports with fans that are most (and least) likely to make purchases and engage with brand sponsors; and how consumers perceive their relationship to sponsors of sports organizations and events. The 2024 survey also targeted National Football League (NFL) and National Basketball Association (NBA) fans for detailed insights into their perspectives of teams and sponsors, including the influence of stadium naming rights and jersey patch sponsorship on engagement behaviors.
“Our detailed 2024 Sponsorship Performance survey shows a direct link between sports sponsorship and consumer purchase intent, which is a big positive for brands,” said Francis Dumais, Managing Partner of Elevent. “With the 2024 Sponsorship Performance survey, we’ve uncovered a host of consumer perspectives and connected them with behaviors such as purchase intent and willingness to engage that demonstrate actual sponsor performance. What we are ultimately after at Elevent is providing brands with data-based insights to guide and measure their strategic sponsorship investments, and this survey embodies our approach.”
Sponsorship and Purchase Intent
The Elevent Sponsorship Performance survey reveals a positive and growing correlation between consumer purchase intent and brand sponsorship of sporting events in 2024. When asked how often consumers will buy from companies sponsoring a sport or sports organization they like, 66% responded that they are more likely to purchase from sponsors they like, up from 59% in 2022. Moreover, 20% of respondents have chosen to do business with a brand only because it sponsors a sport or sporting organization that they like, and 28% have recommended a sponsoring company of a sport/organization they like to a friend.
Sponsorship can also have a negative impact on consumer purchase intent when consumers prefer to avoid the sponsoring sport/organization. Both the 2022 and 2024 surveys revealed that 15% of respondents have stopped doing business with a brand that sponsors a sport or sports organization they don’t like. An additional 16% reported that while they have not stopped doing business with a brand based on sponsorship, they have thought about it.
For more such updates, follow us on Google News Martech News