Key Metrics for Measuring Sponsorship Performance in Sports

Wherever data and analytics are leveraged to help an organization do better, there is A risk of wasting valuable time and resources on chasing metrics that don’t matter. In truth be told, the most relevant metrics in any given scenario are likely more limited in number then those gathering the data really know. Such is the case when measuring sponsorship performance in sports.

It goes without saying that there are plenty of sponsorship metrics, also known as partnership performance metrics, sports marketers can look at. But not all are relevant. The temptation is to track and analyze the longest list of metrics to demonstrate looking at every angle. But there is a danger.

Chasing meaningless metrics wastes time and resources. More importantly, those metrics could lead to a distorted picture of a sponsor’s performance. Whether distorted positively or negatively, an image that doesn’t reflect reality drives sponsorship decisions in the wrong direction. With that in mind, here are some of the key metrics for measuring partnership performance metrics in sports:

Brand Exposure Metrics

At the top of the list are the primary metrics associated with grand exposure and reach. For example, sponsorship analytics tools routinely track things like:

• Impressions – The number of times a brand reaches viewers by way of messaging, a logo, etc. across a variety of platforms.

• Audience Reach – A measurement of the size and demographic makeup of the audience reached by a sponsor.

• Media Value – A comparison measurement estimating the cost of achieving similar exposure through other means.

It’s important that sponsors understand who they are reaching, how they are reaching the audience, and whether or not there are better ways to achieve the desired outcome. Decisions of this nature are rooted in brand exposure metrics.

Fan Engagement

Sponsorship performance metrics in sports include a number of metrics relating to fan engagement. For instance, sponsors need to know how well they are doing with social media. Are they getting the likes, shares, and comments to support sponsored content?

Other fan engagement metrics include website traffic (both in-event and at other times) and fan sentiment. Measuring fan sentiment can be tricky. The goal of fan sentiment metrics is to better understand how fans feel about a sponsor’s association with a team, event, etc.

A Few Additional Metrics

Brand exposure and fan engagement headline the key metrics for measuring sponsorship performance in sports. They are rarely enough to provide a complete picture. So what other metrics should organizations be following? KORE Software recommends the following:

• Brand Health – A number of brand health metrics including awareness, recall, and net promoter score (NPS) can tell organizations a lot about the overall strength of their brands.

• Financial Impact – Financial impact metrics are obviously part of the equation. Measuring things like ROI, sales and revenues, and lead generation are standard.

• Competitive Analysis – It’s important for some organizations to measure competitive analysis. Metrics in this category look at things like share of voice and competitor sponsorship activity.

• Content Performance – As more promoters and sponsors make use of targeted content, it’s important to track performance, especially as it relates to volume and quality of a brand’s appearances.

How would an organization choose and track the right partnership performance metrics? The most effective way is to work with a company like KORE. KORE Sponsorship Analytics offers insights to help promoters and sponsors succeed.

If you’re in the business, remember this one important fact: not every possible metric is relevant to what you’re trying to achieve. Zero in on those metrics that truly matter. The rest of them can be ignored.