MKTG Sports + Entertainment today announced the results of its 2021 MKTG Frontier survey, gauging opinions from over 600 industry professionals around the world.
In 2020, MKTG Frontier reported a potential 70% decrease in growth of the sports, entertainment and sponsorship industry. One year on and there has been an upturn in confidence driven by the greater clarity on a roadmap to normality with over 50% predicting an increase in the market.
Being forced to innovate is not a bad thing, and the learnings from the last year have made the industry work in new ways and approach challenges from a different angle. It will be interesting to see how and where the key findings from MKTG Frontier 2021 become ingrained in industry best practice moving forward.
The four MKTG Frontier survey findings are:
- CREATING CONNECTION is key
The industry is moving to setting focused business objectives, looking to reach specified targeted audiences and making fewer assets work harder to ensure efficiency and impact.
2. AGILITY AND FLEXIBILITY is now mandatory
Brands are creating interconnected partnership portfolios but making sure that they are putting in place scenario planning. Flexibility from rights holders on assets is becoming standard practice and the innovation of digital events will be combined with physical as a hybrid approach.
3. IF DATA is “THE NEW OIL” do we know what to do with it?
The importance of knowing the “Why” is growing as partnerships become more business led. Data is essential to keep the partnership engine running with digital data becoming the norm – but so much is available it is becoming difficult to match the metrics to the objectives.
4. PURPOSE in partnerships has longevity
The last year has confirmed how sponsorships are the right channel to deliver meaningful brand actions alongside other key benefits.
-ENDS-
For more information or a copy of this free report, contact:
Michael Barnfather, MKTG EMEA Michael.barnfather@mktg.com