Marketing involves many different activities. In its simplest form, marketing is the promotion of and sale of goods and services. However, it goes much deeper than that. For instance, let’s say you work in the sports and entertainment business. Now, if you were to look at sports and entertainment marketing in the most basic terms, it would simply involve trying to get your name and brand out there in front of others who may be interested in what you have to offer. However, if you were to look at it from a more advanced perspective, you would quickly come to realize that there are several different facets to sports and entertainment marketing.
The marketing mix that is used on the job indeed revolves around two things. First, these are the critical skills of a good marketer. It is no secret that marketers must develop their skills and know-how to promote themselves and their businesses effectively. Second, however, another facet of sports and entertainment marketing involves using marketing strategies developed by entrepreneurs and marketers who are highly skilled in this area.
Take, for example, the marketing mix used by the leading sporting events in the world. These sporting events do not always focus on traditional business principles. For instance, they do not engage in conventional advertising and branding techniques typically utilized by businesses and brands. Instead, these sporting events use social marketing strategies and media marketing. Essentially, this means that these sporting events engage in the use of various social media outlets such as Facebook and Twitter to allow fans, followers, and audiences to connect with the athletes and teams participating in the games. This online marketing strategy allows these businesses to communicate with a vast audience for minimal cost or initial investment.
Now, let’s take a closer look at the sports consumer. The sports consumer is different than the typical consumer in several different ways. One way sports consumers are other than the typical consumer is that they are very niche-oriented. For instance, while many consumers may be interested in Formula 1 racing, for the most part, they will not be interested in watching Formula 1 racing because it does not involve them at a single level.
In other words, sports consumer is much more specific in their tastes and preferences. Therefore, a sports marketing strategy that works for one brand may not work for the next. Indeed, it can even be difficult for marketers to determine if a brand’s marketing strategy will appeal to the sports fan in general. For example, marketers need to consider if the fanatics of Formula 1 will respond to a campaign with a certain degree of enthusiasm. If not, then the sports consumer may not become a significant contributor to the company’s revenue stream.
This is why social media marketing strategies are so important. To increase a brand’s recognition and generate new fans, marketers need to learn what they will learn in this unit. To do this, they have to learn how to execute marketing campaigns effectively and implement them on an ongoing basis. For instance, marketers will know how to create a brand and event triangle by understanding event branding.
An event triangle refers to the arrangement in which a brand product or service is promoted during a special promotional event. The most famous event brands are the ones that can sustain the attention of their fans for an extended period. For this to happen, sports marketers need to engage with their fans in an exciting way. This is where social media marketing campaigns come into play.
A sports marketing event marketing campaign should be particular. For example, a brand may promote during a specific game or encourage during a special event like a match. Whatever the case is, sports marketers must make sure that they will learn something from each campaign they execute. They may decide to improve on one drive, or they may choose to change the whole strategy. Either way, they must learn from each campaign because only then can they use it effectively.