Understanding the ROI of sports sponsorships: unlocking value with Blask
Sports sponsorships are a powerful marketing tool, offering brands visibility and engagement with a vast audience. But how do you measure the return on investment (ROI) from these sponsorships? Understanding the tangible and intangible benefits, from brand awareness to customer acquisition, is critical for evaluating your marketing spend. Enter Blask, the AI-driven analytics platform that simplifies these complexities for brands, especially in the iGaming industry. Let’s explore how Blask’s tools can help you maximize the ROI of your sports sponsorships.
What is ROI in sports sponsorships?
ROI, or return on investment, is a metric used to evaluate the efficiency of an investment—in this case, a sports sponsorship. For sports sponsorships, ROI isn’t just about direct revenue. It encompasses a range of benefits, including:
- Brand awareness: How well-known is your brand post-sponsorship?
- Customer engagement: Are fans interacting with your brand more?
- Lead generation: Are you seeing an increase in new customers?
While some of these benefits are straightforward to measure, many involve nuanced data analysis. This is where Blask steps in.
How Blask helps you track ROI
Blask offers several tools that can help brands in the iGaming industry track and optimize the ROI of their sports sponsorships. Here are some of the key features:
1. Blask Index: track market sentiment in real-time
Blask Index metric acts as your brand’s compass. Inspired by the Share of Search metric, it provides a real-time reflection of market volume and brand sentiment. By analyzing search data, it allows you to see how your sports sponsorship affects your brand's visibility in the market.
Use Blask Index to compare your brand’s performance in different countries where the sports event might be aired.
2. Estimated Gross Gaming Revenue (eGGR): understand revenue impact
Blask’s eGGR tool estimates the Gross Gaming Revenue (GGR) generated from iGaming activities post-sponsorship. This metric helps you quantify how many deposits are being made because of your sponsorship, allowing you to tie a direct financial figure to the campaign.
With eGGR, you can compare your brand's performance before and after the sponsorship. If there’s a significant increase in revenue post-sponsorship, you’re seeing a positive ROI. For example, after sponsoring a major football team, you might notice a spike in deposits and revenue from fans.
3. Estimated First-Time Deposits (eFTD): track new players
Another critical metric is the eFTD—Estimated First-Time Deposits. This metric prognoses how many new users or players make their first deposit. Since attracting new customers is often a key goal of sports sponsorships, tracking eFTD is vital.
With Blask, you can set benchmarks and compare these figures to market averages, ensuring that your sponsorship is delivering the expected number of new players.
4. Relative market share: see how you stack up against competitors
Sports sponsorships can also help you pull ahead of your competitors. By using Blask’s Relative Market Share metric, you can see how your market share evolves post-sponsorship. If your competitors are not sponsoring similar events, your market share might grow as you attract their customers.
By tracking market share alongside metrics like eFTD and eGGR, you’ll have a comprehensive understanding of your sponsorship’s impact.
5. YoY and MoM growth: monitor long-term impact
Blask also tracks Year-over-Year (YoY) and Month-over-Month (MoM) growth. Sponsorships can sometimes have long-term effects. Fans who discover your brand during the event might take weeks or months to convert into paying customers. YoY and MoM metrics help you track this longer-term growth.
For instance, you might notice a steady rise in customer retention or lifetime value after sponsoring a sports team, indicating long-term ROI. This is where tracking customer engagement and average revenue per user (ARPU) becomes key.
Why Blask is your best bet for ROI tracking
Blask simplifies the complexity of calculating ROI for sports sponsorships by offering real-time, AI-driven insights tailored to the iGaming industry. Here’s why it stands out:
- Real-time data:
Blask updates insights frequently, allowing you to react quickly to any changes in market sentiment. - AI-powered analytics:
Blask’s AI models predict key metrics like eFTD and eGGR, ensuring you have precise, actionable data. - Comprehensive tracking:
From market share to new customer deposits, Blask covers all angles, giving you a 360-degree view of your sponsorship’s performance.
Conclusion: maximize your sports sponsorship ROI with Blask
Sports sponsorships can be a significant investment, but understanding their ROI can be a game-changer. With tools like the Blask Index, eGGR, eFTD, and Relative Market Share, you can confidently measure your sponsorship’s impact and make data-driven decisions. Whether you’re gaining market share or increasing deposits, Blask ensures you have the insights needed to stay ahead of the game.
So, next time you're considering sponsoring a major sports event, let Blask guide your strategy and optimize your ROI. Ready to dive deeper into how Blask can help?