Marketers and industry professionals are predicting growth in sponsorship revenues in '18 as the market diversifies into new areas such as esports and attracts new investment, according to a report published by MKTG in association with Think! Sponsorship and the European Sponsorship Association. The report reveals an increasing confidence from sponsorship professionals that the market is growing, with 59% of respondents forecasting an increase in revenue this year (up from 50% in '17) and 84% projecting significant sponsorship growth and expansion in esports. The key findings are:
- Metrics: Only 19% of sponsorship professionals are confident that they can actually measure the business value return of the sponsorships they undertake, and despite key drivers for sponsorship selection and success being brand consideration and preference, the top two named tools used for evaluation are digital and social media metrics.
- Growth: Growth is being driven by a better understanding of how sponsorship can be integrated with other channels and a clearer understanding of the breadth of brand and business objectives it can deliver.
- Activation: Social is considered the No. 1 activation channel and the main content platform for sponsorship by 68% of respondents, and while this marks a rise of 6% on last year, the prevailing sentiment (at 83%) is that authentic engagement of sponsorship, through digital and social activations, remains a challenge (MKTG).
