Brand Endorsement ROI
I’m a Roger Federer fan. I set my alarm to wake up on Sunday (at 9 am) and watch with the hopes of him beating Nadal in the final match of the French Open. Well it wasn’t in the cards this year. But while watching the French Open this past weekend I couldn’t help but notice both Roger and Rafa are Nike men. I’m sure I’ve noticed it before but for some reason this year I was distracted by it and the other brand placements.
Addison Whitney is headquartered in Charlotte, also known as NASCAR headquarters. I think the reason the French Open brand placements were so vivid to me was because I had watched the start of the Coca-Cola 600 the weekend before and was amazed at all of the places a logo could go – behind the steering wheel, all over the cars and on the driver. All I could think of was how is this placement a worthwhile investment? How is the ROI measured and justified? In my head the potential conversation might go like this: Me: “Hi Boss, I’d like to spend $20,000 to put our logo behind Dale Jr’s steering wheel.” Boss: “Beth Anne, no. Get out.”
And then I remembered Michael Jordan and Nike. Who didn’t want to be just like Mike? (Do you remember the Gatorade song? “I wanna be, I wanna be like Mike.”) I won’t lie. Young Beth Anne was decked out in Nike and Chicago Bulls gear despite living in Atlanta.
Are today’s athletes really so influential that they can influence brand preference? NASCAR fans are loyal. But do Denny Hamlin fans only use FedEx as opposed to UPS because he endorses it? Again, I love Roger Federer, but I’m not going to seek out Nike or Gillette over other brands because of his endorsement (in all fairness, I am a woman, not a man so I don’t know if that makes a difference).
What do you think about athlete endorsements and the value? Do these endorsements really make a strong impact on a brand or are they just a means to increase awareness?
And don’t worry your pretty little head Roger, you’ll get him next year at Roland Garros (and hopefully next month at Wimbledon).
Lowe's Says 'No'
Last year, the Concord, NC street that takes hundreds of thousands of racing fans to Lowe's Motor speedway was re-named Bruton C. Smith Boulevard in honor of the Speedway Motorsports Inc. owner. Next year, the track itself will undergo a name change as well. On Thursday, Lowe's announced that it will not renew its naming rights for the Concord speedway.
Lowe's brokered exclusive naming rights with SMI in 1999, making Lowe's Motor speedway the first major naming-rights deal of a NASCAR track. The partnership has been viewed by many as a success, as the fairly young Lowe's brand has enjoyed exposure to millions of NASCAR fans for nearly a decade. But, but as priorities and budgets shift to survive in the recession, so too will the marketing resources of the company.
According to a NASCAR press release, SMI owner Bruton Smith expects the track to work to find a new title sponsor. If a new sponsor can't be found, the track's name will revert to Charlotte Motor Speedway.
Of course, this is not the only corporate sponsorship to dissolve within the past year. Professional sports across the board are having more trouble holding on to their lucrative deals with companies, specifically those in the financial and automobile industry. With this decline, yet another reflection of a downturned economy, might we see the pendulum swing back to a world of stadiums and fields without corporate monikers?
If so, which sports venues would you like to see returned to their original names?
Contributed by: Maghan Cook
NASCAR-mania
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If you love stock car racing, surely you’ve been in a souvenir shop and pondered purchasing yourself a NASCAR mug or hat. And if you’re a big fan, maybe you’ve visited the online NASCAR superstore and ordered a checkered flag dog collar for your poodle, a Dale Earnhardt Jr. denim shirt for that special someone, or a Jeff Gordon pacifier for your kid.
But for those uber-fans out there, the NASCAR name stretches far beyond what you can buy at the official store. Dozens of companies use the name under license, making it possible for race junkies to literally eat, sleep, and breathe NASCAR. Check out just a few of the items I found online:
NASCAR bandages
NASCAR burger patties
NASCAR caskets (yes, you read that right)
NASCAR chainsaws
NASCAR cologne
NASCAR couches
NASCAR grills
NASCAR high heels
NASCAR hot dogs
NASCAR mangoes
NASCAR salami
NASCAR sunscreen
NASCAR underwear
NASCAR vacuums
And my personal favorite, NASCAR romance novels (through a partnership with Harlequin).
Happy shopping racecar fans!
Contributed by: Maghan Cook
Let the festivities begin!
Charlotte is home to numerous race fans and the Food Lion Speed Street Festival has attracted thousands of these enthusiasts from not only North Carolina but also from states across the country. Celebrating its 14th year, the family-oriented event will take place on the 22nd through the 24th of May in Uptown Charlotte. Commemorating motor sports, Speed Street offers guest appearances by top Sprint Cup and NASCAR drivers, along with motor sport exhibits like race cars and burn out bikes to name a few. Speed Street is scheduled to entertain guests with artists like Kellie Pickler, Jagged Edge and Tara Allison on three different stages located across Uptown Charlotte. Admission is free. Whether you are a hard encore race addict or just simply looking for something to do over the weekend, the Food Lion Speed Street Festival is a great event to let loose, immerse yourself in the racing world, indulge in a mouth-watering hot dog and enjoy a refreshing cold beer.
By: Nishani Premaratne
NASCAR, Marketing, & Receding Economy
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Every media channel is buzzing with talk of a possible receding economy and I started wondering how this might affect future marketing initiatives. I then came across an article titled, Racing through Recession: Brand Lessons from the Daytona 500.
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