Brands must remain authentic when investing in women’s sport – any box-ticking manoeuvres will be detrimental
This is part two of a three-part series exploring the state of women’s sport during the Covid-19 pandemic. Part one, on the role of the media, can be read HERE.
With no live action, women’s sport is under substantial threat – how will they generate income? As budgets are cut and purse strings are tightened, brands must remember why they invested in the women’s game in the first place. They must think tangibly about why and how it drives value – as this value alignment and opportunity has not gone away.
A Nielsen Sport study revealed women’s sports are seen as more progressive and inspiring, less money-driven and more family-oriented than men’s sports. Women also see women’s sports as a lot more inspiring than men do. This is one of the reasons women’s sport is especially valuable for brands long-term. It allows them to tap into a valuable and largely unexplored demographic; women – the household ‘spenders’ – not usually accessible through other sport sponsorships.
As we move into a post-coronavirus world, fans and consumers are looking to brands to deliver more – 65% of people say that how well a brand responds to the crisis will impact brand sentiment forever (Sources: Kantar, Global Web Index, Edelman (2020)). Consumers want brands to be supportive, build a community and to help in the current climate. There is opportunity for brands to act and help support women’s sport, not only through sponsorship, but with purpose-first initiatives that help sustain the foundations.
There are clear synergies between the Black Lives Matter movement – brands want to be seen to be supportive, but for many, there is little substance to that support. We talk of inclusivity, but when push comes to shove, it is too easy to drop funding, attention and awareness. Brands must walk the walk; not simply jump on the bandwagon during moments of success and heightened interest. A brand that pulls its support from women’s sport, while continuing to invest in men’s sport, will struggle to make a credible claim around being supportive of gender equality in future. Equally, a brand that stands fast now will be remembered for that stance.
The women’s game doesn’t have the same revenue streams as the men’s, and many rely heavily on sponsors and ticket sales to support the foundations of their sports (cue: sustainability gap). The effects of companies scaling back, or worse – withdrawing – investments, would have catastrophic implications.
Women’s topflight rugby in the UK – the Premier 15s – was declared null and void in March, and with it – title sponsor, Tyrrells, announced they would be ending their title sponsorship. When Tyrrells came on board in 2017, the RFU pledged investment of £2.4m into the league over the next three years, but in light of the current situation, Rugby’s governing body have said they are unable to offer assurances over the same levels of financing, leaving a fragile future for the funding of the women’s game.
Strategically, though, it makes sense to keep investing in a growth area; Visa – which at the end of 2018 signed a seven-year deal to become the first ever sponsor of UEFA’s women’s soccer competitions – have recently announced that they will not be changing tack. They have already committed to supporting their roster of Olympians for the postponed Tokyo 2020 Games in 2021, and it seems that security will be extended to women’s sport at large.
Not overlooking the obvious opportunities afforded brands by the lower women’s sport price tag. Namely, cuts in budgets may make women’s rights packages a more appealing offer to new investors versus unaffordable men’s equivalents. As well as offering brands the opportunity to maintain a presence within a marquee sport at a more affordable price point for revised budgets.
The effects of coronavirus are not a momentary blip; sport will look very different post-pandemic, and the decisions made now will affect what the future landscape looks like – and who plays in it. The decisions made now have broader cultural implications – and we must ensure that female athletes and women’s sport has a role to play in that future. Brands, like Visa, have a real opportunity in the coming months to act in a way that addresses gender balance in sport, but also as a spearhead for wider society, igniting real social and cultural change.
Attendances were on the rise and younger audiences (millennials/Gen Z) have a known appetite for women’s spot and live experiences; the role sport plays in society – and will play in rebuilding society – dictates an even stronger cause for brands. But, like any investment, it must remain authentic and have a genuine reason for sponsorship. Any box-ticking manoeuvres will be easily transparent in the eyes of the consumer, as well as the media, and could be detrimental.
It is known that brands that ‘stay on’ during recession recover better (Source: Millward Brown) – women’s sport, like a brand unto itself, needs to remain ‘on’ to stand a more competitive chance when the market returns. Keep the interest, keep the investment, keep the momentum and it will emerge – not just having survived this, but stronger than ever before. And the brands that helped it along that journey, will be rewarded.
Victoria Monk is Senior Communications Manager at ESA member CSM Sport & Entertainment | @Viki_Monk