SPORT STARS TAKING SOCIAL MEDIA BY STORM

In the past, the idea of sport as a business wasn’t given much thought.

Both sport and business were separate entities, which held value in their own respective fields. Today, the two have become a unified and iconic pairing.

The mix has unveiled opportunities unlike ever before; creating new markets and flourishing investment, all the while safe-guarding and rising interest in traditional sports. Take the success of the London Olympics for example: per consultancy Oxford Economics, by the end of this year, the event will have contributed over £16.5 billion to Britain’s gross domestic product.

In fact, in the UK, the business of sport has exceeded over £20 billion a year in earnings and has supported the creation of over 480,000 jobs.

Certainly, the relationship between sport and business has transformed the world’s biggest sport stars into viable and extremely profitable brands: attaining world-class results, via world-class performance and interaction with fans across the globe.

Duly, sports sponsorship’s and partnerships are providing a deeper engagement with fans, beyond what is typical and traditional.

Rob Mason, managing director of IMG Consulting, comments:

“The way that sports businesses are run nowadays is necessarily more transparent and professional, and more focused on the customer – the fan. Sport is entertainment and there is plenty of competition.”

It is recognition by business, that sport stars can play a key role in winning the hearts and minds of consumers. By engaging with fans on a personal, emotional level – sports sponsorship’s, and their chosen star at the forefront, can drive sales and increase market share; resulting in huge revenues.

Indeed, there has never been a more powerful, or effective tool in boosting the industry. One with an ability to reach – and connect with – millions of people around the world.

It also offers an opportunity for companies to make a long-lasting impression on their target audience, and gives brands the chance to engage new content with a connected and invested consumer – whether through traditional methods or non-traditional methods, such as social media.

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