LOS ANGELES: Market research and data analytics company MarketCast has launched a tool to measure and quantify the impact of sports sponsorships.
Sponsor Analytics combines big data analytics and primary research to help sponsors and sports leagues determine whether their investments are landing, helping to drive sales and affinity for the brand in question.
Sponsor Analytics will give brands an insight into how their sponsorships have an impact on brand awareness, affinity and considerations, as well as business outcomes like sales lift and subscription growth. It will also help sports leagues understand how various forms of sponsorship, such as jersey logos and on-field signage, affect sales and brand metrics for sponsors.
The tool will draw on data from smart TVs, connected devices, websites, social media and retail and online sales, looking at if or how fans are exposed to sponsorship content and whether this translates into purchases. To augment this data, MarketCast will also rely on its primary research to get a better sense of sports fans' preferences.
With sports sponsorship spending estimated to reach more than $20 billion by 2023, according to PwC, Sponsor Analytics aims to provide brands with a means to measure the effectiveness of their investments. This will allow brands to devise more robust sponsorship strategies that will save money while increasing ROI, according to the company.
MarketCast works with clients across industries, providing them with insights derived from research analytics and data to inform decision making.