“The Science Of Sponsorship” is a series dedicated to scientific discoveries driving the sponsorship marketing sciences world-wide.
Assessing the Financial Impact of Sponsorship Investment
This article outlines an effective approach to the problem of assessing the financial impact of sponsorship investment, which has a track record of successful implementation in the sponsorship industry. The approach is outlined as a five-step process:
- Involving comprehensive segmentation
- Benchmarking to derive a brand discount rate
- Modeling of financial performance
- Determining the role of the brand in ultimately driving usage choice
- Providing the techniques to calculate Brand Contribution in financial terms
Conclusion: the complex tasks involved in assessing the financial impact of sponsorship investment and the impact on shareholder value can be rigorously addressed and sponsorship managers can make improved decisions which are underpinned by market and financial analysis.
Read the full article Kourovskaia, A. A., & Meenaghan, T. (2013). Assessing the financial impact of sponsorship investment. Psychology & Marketing, 30(5), 417-430.
Measuring Sponsorship Performance: Challenge and Direction
Global sponsorship expenditure forecast to reach US $53.3 billion in 2013. The scale of this investment has added significant momentum to the demand for improved methodologies for evaluating performance. A range of recent sponsorship studies clearly indicate the demand for new and improved methodologies for measuring sponsorship performance. This article brings together a selected series of papers from leading edge academics which critically review certain current approaches to evaluation, explores important research methodology issues, and outlines recently developed performance evaluation models. Read the full article Meenaghan, T. (2013). Measuring Sponsorship Performance: Challenge and Direction. Psychology & Marketing, 30(5), 385-393.
New Challenges in Sponsorship Evaluation
This paper outlines two new challenges in sponsorship which have implications for performance measurement. Challenge #1: the extent to which major sponsors now view sponsorship more holistically and strategically as a platform to address the entire range of stakeholder groups enabled by sponsorship. Challenge #2: the increased usage of social media in sponsorship and its capacity to engage and connect with sponsorship audiences.
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Read full article Meenaghan, T., McLoughlin, D., & McCormack, A. (2013). New Challenges in Sponsorship Evaluation Actors, New Media, and the Context of Praxis.Psychology & Marketing, 30(5), 444-460.