1.5 Influence Marketing: Sports

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From the course by Yonsei University

International Entertainment and Sports Marketing

111 оценки

Yonsei University

International Entertainment and Sports Marketing

111 оценки

Course 5 of 6 in the Specialization International Marketing & Cross Industry Growth

This course will provide learners with a fundamental understanding of the characteristics and marketing strategies related to two key global industries, sports and entertainment. The growth in both industries have been fueled by their ability to innovate via CCCI, i.e. cross-country and cross-industry expansion. There will be a graded quiz that will consists of 10 questions during the first two weeks (together worth 50% of the grade) and a final quiz that contains 20 questions (worth 50% of the grade) in the third week. People who successfully complete this course will obtain the following outcomes: (1) You will learn the key characteristics of sports marketing. (2) You will learn the key characteristics of entertainment marketing. (3) You will be able to apply cross country growth strategies to your business in the sports and entertainment industry. (4) You will be able to apply cross industry growth strategies to your business in the sports and entertainment industry”. (5) You will be able to reference CCCI, i.e. cross-country and cross-industry Innovation best practices via interviews with key experts in the sports and entertainment industry such as from adidas, Audi, and YG Entertainment (home to Psy and Gangnam Style).

From the lesson

Sports Marketing

During Week 1, learners will discover how to conceptualize Sports Marketing in two different ways. Sports Marketing is not only the marketing of sports but also the marketing via sports. This definition explains in clear terms how sports itself can be marketed but also how sports can be used to market other industries. Learners will then, via many examples, identify the prototypical and differentiating characteristics of sports marketing such as Fan Marketing, Influence Marketing, Storytelling in Sports, and Sports Sponsorship. In this module you can activate sports marketing via lessons from experts from Professor John Davis at Duke, CE and Josh Mora, Sports Marketing and Media Program Director at Full Sail University.

Introduction to Specialization3:42

1.1 Introduction to Course1:38

1.2 What is Sports Marketing Part 17:49

1.3 What is Sports Marketing Part 27:37

1.4 Fan Marketing12:12

1.5 Influence Marketing: Sports7:41

1.6 Storytelling in Sports Marketing10:24

1.7 Sports Sponsorship Part 16:59

1.8 Sports Sponsorship Part 29:12

1.9 Expert Interview with John Davis, Duke University7:00

1.10 Expert Interview with Josh Mora, Full Sail University18:33

Meet the Instructors

Dae Ryun Chang
Professor of Marketing
School of Business

Welcome to the segment influence marketing in sports.

This will be the agenda.

I'll talk about, explaining, what is influence in sports.

I'll talk about the various trends in sports influence marketing.

I'll give you some key examples and

I'll finally finish it off with the so-called four M's of Influence Marketing.

So, let's get started.

Okay, so what is influence marketing.

I like to think of it as being two step marketing.

We commonly say, that the shortest distance between two points is a line,

maybe not so.

Why? Because in marketing,

there is this so-called wall of distrust.

And what that means is, that if you are a consumer,

you don't always trust what you hear on television or what you see in the print.

Because you know that they want to sell you something.

And that is where influence actually can have a better effect,

even though it is in a roundabout way.

So if you have an influencer, it could be a celebrity, but

here we are talking about athletes.

A famous one, who you idolized, well through him,

if he endorses something you can trust him.

So whereas, we had this wall of distrust in the case of the influencer,

you have this flow of trust that is

very different from the other route.

So, here are some trends that influence marketing in sports.

Not surprisingly, a lot of it is done online, given the power of online media.

You also have therefore,

direct access by these athletes to their fans.

Their scores of fans and I'll give you a great,

good example later on, so they don't have to go through regular media channels.

There are metrics which allow sponsors to gauge,

to measure how engaging

these social messages from these athletes are.

Sometimes, if you haven't sponsored key events,

like the World cup or the Super Bowl.

This allows you to piggyback and create a new network,

which takes advantage of these big events where these athletes are playing.

And finally, a key benefit stemming from

sports influence is, that you can have more options to monetize.

Not only the teams, but especially your clients.

Okay, one key example and that would be CR7 and if you are a football fan or

soccer fan as North Americans would call it.

CR7 stands for Christiano Ronaldo and

he of course, wears number 7.

He currently plays for Real Madrid and he's scoring a lot of goals.

He formerly played with Manchester United.

He endorses many brands, including Nike and Herbal Life.

And from a influence marketing standpoint,

most importantly, he has millions, tens of millions.

More than 30 million followers on Instagram and

especially on Twitter and this is many times over that of most brands.

And that's what makes him so valuable and it's not just him.

So even though, Cristiano had the highest value per Tweet when he endorses a brand.

But, you have other athletes like Lebron James, and

Neymar, and Wayne Rooney and so on.

Who are equally very valuable to endorsing companies.

Surprisingly not on the list is.

Okay so finally,

in terms of the implications of influence marketing.

Companies have to think about how to use it and

you can use it through this very useful framework.

There's a very good book by Graham, where he talks about the four M's of influence.

Which stands for make,

manage, monitor, and measure.

So first, you have to make contact,

make that connection between the athlete and the consumer.

You have to choose wisely, of course but once that's made,

well then, you have to manage it.

And you manage it through the use of big data analytics to see

what are the critical stages in the so-called consumer journey.

Then you have to monitor and you have to monitor your

key relationships with opinion leaders.

So in that respect, it's almost like a three step communication.

You first have to establish contact with your opinion leaders.

Who then have themselves, nowadays through a social media,

maybe tens if not hundreds of thousands of followers themselves.

So you want to make sure that these people in the middle are having

a good relationship with you, the athlete or the team.

And finally we have to measure.

At the end of the day, it has to make sense, it has to be monetized.

So it has to be related to sales or

metrics that are closely related to sales, such as purchase intentions.

So, let me wrap up by giving you the takeaways.

And as I emphasized at the outset,

influence marketing is about two step communication and sports is like that too.

It's establishing, not in one step, but in this two, or

even three step way that's influenced where consumers will trust you.

Among the major trend in influence marketing was the importance of

social media.

We saw in the list of athletes that it's not just about sporting performance.

And that is why perhaps, some noteworthy athlete, like Messi,

was not found, at least on that list.

And finally, we found a very useful framework to manage influence marketing,

and that was the so-called 4M's approach.

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