July 2024 - GAPIT Media

Sports Marketing – How can brands capitalize on EURO 2024?

Posted on 31 July, 202431 July, 2024 by tuvanweb_gapit

Have you ever wondered why big brands are willing to spend billions of dollars sponsoring tournaments or teams? The explosive growth of the football industry has led to more diverse and rich Sports Marketing, creating opportunities for brands to reach customers effectively.

1. Sports Marketing in recent years

Sports marketing is a term that emerged in the late 20th century to describe marketing to promote products, services, or events, and to build brand equity in sports.

According to The Business Research Company, the global sports industry is projected to reach a value of $623 billion by 2027, with a compound annual growth rate of 5.6%. The proliferation of sports and the increasing popularity of football have fueled the growth of sports marketing, making it a preferred choice for many major brands in recent years.

Sports marketing capitalizes on sports’ immense popularity to provide brands with a powerful platform for growth. By sponsoring tournaments or collaborating with football icons, brands can tap into the massive fan base and achieve significant brand visibility.

Major tournaments are opportunities for brands to use Sports Marketing effectively

Tournaments like the Premier League, Champions League, EURO, Copa America, and World Cup provide brands with prime opportunities to leverage sports marketing and reach a vast audience.

Gemius AdReal data revealed that during UEFA EURO 2020, Coca-Cola reached over 36 million users and garnered over 704 million ad interactions. Heineken also achieved impressive results, reaching nearly 8.5 million real users with a reach rate of over 20% and over 17 million ad interactions. These figures underscore the immense power of the major football tournaments as platforms for brands to connect with millions of fans worldwide.

2. A golden opportunity for big brands at EURO 2024

EURO 2024 is nearing its conclusion when Spain and England vie for the championship. According to Deloitte, this year’s EURO can generate a total revenue of €2.4 billion, with television rights being the vital revenue stream as UEFA forecasts over 5 billion viewers. The immense appeal of this global tournament presents a golden opportunity for brands to enhance their visibility, engage with customers, and become household names.

There are two primary sports marketing strategies brands employed during EURO 2024: becoming the official sponsor of the entire tournament or sponsoring specific teams or players based on their commercial value.

Hisense, a three-time strategic partner of the UEFA EURO, has once again taken center stage as one of the 13 official sponsors of EURO 2024. Through its “Beyond Glory” campaign, Hisense is committed to creating a deeper connection with football fans worldwide. By offering immersive experiences in dedicated zones in host cities, Hisense enhances the viewing experience and fosters a sense of community among fans.

Hisense’s “Beyond Glory” campaign during EURO 2024

Hisense has taken its “Leading Technology, Exciting EURO” campaign beyond European borders, reaching markets such as Vietnam. By delivering a series of innovative and engaging activities, Hisense has crafted a memorable campaign that resonates with football enthusiasts around the globe.

Coca-Cola, another official sponsor of EURO 2024, has launched an innovative campaign titled “The Ritual Cup.” Beyond product promotion, this campaign explores the ritual of enjoying Coca-Cola during football matches and invites fans to share their experiences on social media. Coca-Cola also runs an “Endless Summer” promotion on their packaging, offering exciting prizes such as EURO 2024 match tickets to engage more consumers.

Coca-Cola’s “The Ritual Cup” campaign exemplifies the brand’s ability to create emotional bonds with consumers. By uncovering the unique ways people enjoy Coca-Cola during football matches, the brand delivers more than just a product; it provides fans with unforgettable experiences.

Besides becoming official sponsors, brands often invest in individual teams or star players. Nike, Adidas, and Puma, the big three of sports, are locked in a constant battle for supremacy, particularly during high-profile tournaments like EURO 2024. These brands are ready to shell out hundreds of millions of euros for monopoly outfitting players.

EURO 2024 brings together 24 competing countries, in which Nike, Adidas, and Puma are the main sponsors of 9, 6, and 4 football federations in Europe, respectively. It signifies that the logos of the above brands will appear heavily in every match and event before and after the matches. In addition, these brands will also be the suppliers of sports products such as shoes, balls, and training gear for teams and players when participating in tournament-related activities.

Sponsoring sports teams provides brands with an unparalleled opportunity for exposure. Jerseys act as walking billboards, reaching millions of viewers globally. By aligning with the excitement of a major tournament, brands can launch new, trendy collections that appeal to a wide audience. The 2024 shoe collections from Nike, Adidas, and Puma, with their respective themes of “Mad Brilliance,” and “Forever Faster,” exemplify this strategy.

EURO 2024 exclusive collections from Nike, Adidas and Puma

3. Marketing solutions for brands

One of the key factors contributing to the success of sports marketing campaigns is the power of imagery. Visuals in these campaigns convey messages and evoke emotions from the audience. For instance, in Hisense’s “Beyond Glory” campaign, the appearance of legendary goalkeeper Manuel Neuer in every visual pays tribute to the athletes who dedicate themselves to professional UEFA leagues and demonstrates the company’s strong commitment to its customers and products.

The imagery used in sports marketing campaigns demands uniqueness, novelty, and impact. It must be aesthetically pleasing while effectively conveying the brand’s message. To achieve this, communications agencies typically offer two solutions to businesses seeking to optimize resources, build brand image, and enhance customer engagement: Strategic Planning and Creative Solutions. This is not a challenging task for communications agencies in general, and GAPIT Media in particular, as they possess a team of experienced creatives capable of crafting campaigns that reach a wide audience across various channels and capture attention.

EURO 2024 sports marketing provides significant advantages to major brands, including increased brand recognition and customer loyalty. EURO 2024, and major sporting events in general, are global spectacles that capture the attention of fans worldwide. By sponsoring these events, brands demonstrate their commitment to communities and the values of sports. As a result, it helps build trust with existing customers and provides an excellent opportunity to expand their market reach and attract new consumers.

Associating with major sporting events helps brands build a dynamic, youthful, and close image with consumers. Interactive activities, competitions, and special events on the sidelines of EURO 2024 launched by the brand will create memorable experiences for customers, strengthening the bond between brands and consumers.

References:

Sports Global Market Report 2024: https://www.thebusinessresearchcompany.com/report/sports-global-market-report

Euro2020 Sponsors. Reach analysis of the advertising campaigns from the FMCG industry in Germany: https://gemius.com/blog/euro2020-sponsors-analysis-of-the-reach-of-advertising-campaigns-from-the-fmcg-industry-in-germany/

Annual Review of Football Finance 2024 | Deloitte UK: https://www2.deloitte.com/content/dam/Deloitte/de/Documents/consumer-business/Deloitte_Annual_Review_of_Football_Finance_2024_Studie_UK.pdf

KOL, KOC, KOS: The Explosion of Influencer Marketing

Posted on 11 July, 202422 July, 2024 by tuvanweb_gapit

Making good use of the strengths of Influencer Marketing will help businesses achieve significant resonance in their communication campaigns, bringing products and brands closer to the public.

1. Terms in Influencer Marketing: KOL, KOC, KOS

“KOL” (Key Opinion Leader) are individuals who influence the community through their in-depth knowledge in a specific field or industry. They can be journalists, entrepreneurs, politicians, or celebrities, and do not necessarily need to use social media because they are recognized by the community for their expertise in a certain field or industry.

“KOC” (Key Opinion Consumer) are consumers who have influence in the market. KOCs have diverse and genuine experiences with products, understand emotions, needs, and grasp consumer psychology well. Therefore, KOCs play an important role in increasing consumer trust in products and influencing their purchasing decisions.

“KOS” (Key Opinion Sales) are content creators with professional sales skills. They have knowledge about products and brands and can convey that information to buyers in a lively and credible manner. KOS are divided into two groups: “Brand-affiliated KOS,” who are typically employees of a brand/company, and “Independent KOS,” who are usually freelance live streamers.

Increasing Terms in Influencer Marketing

Among the three popular terms in Influencer Marketing, KOS is a new trend that has been highly favored in the market recently. According to AccessTrade Vietnam, since the beginning of 2024, there have been approximately 2.5 million live sales streams per month on online platforms like Facebook, Shopee, and TikTok; more than 50,000 sellers have participated. On average, Vietnamese people spend 13 hours a week shopping via live streams. This indicates that KOS can become a “HOT” profession with significant development potential.

Some typical examples of successful KOS include the duo Lucie Nguyen – Tuan Duong, who achieved nearly VND 26.5 billion in sales after 15 hours of live streaming on TikTok on April 4. Pham Thoai, another notable KOS, sold more than 75,000 orders in just 24 hours of live streaming, earning over VND 1.2 billion per month solely from selling on TikTok.

2. Differentiating KOL – KOC – KOS: Roles in Marketing Activities

Depending on the different goals of each marketing campaign, businesses can base their decisions on the distinct roles of each group of Influencers to make appropriate and cost-effective choices for optimal results.

KOS is a new concept but has tremendous development potential.

Below are the basic differences among the three groups KOL – KOC – KOS based on two criteria: Content Development Orientation and Influence Level.

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3. Effective Influencer Marketing Selection Formula

Faced with numerous opportunities to attract customers through influencers, choosing the right Influencer for marketing activities requires businesses to grasp the correct “formula” to achieve optimal communication effectiveness.

Choosing an Influencer for each campaign should consider the 3R principle:

REACH

Reach is measured by the number of followers (Followers) or the extent to which the Influencer is recognized by the public. This measure classifies Influencers from small, medium to large, including: Nano – Micro – Macro – Mega.

For example, with KOLs: Nano-KOLs have 1,000 to 10,000 Followers, Micro-KOLs have 10,000 to 100,000 Followers, and Mega-KOLs have over 1,000,000 Followers.

The choice of KOL, KOC, or KOS with what level of influence depends on the marketing campaign budget and the product of the business. However, choosing Influencers with larger followings does not necessarily yield higher effectiveness because sometimes selecting an Influencer who impacts too many audience groups does not “target” the brand’s specific customer group.

RELEVANT

Influencers need to be a good fit for the brand or product based on three factors:

Target Audience Relevance: Demographic compatibility between the brand’s target audience and the Influencer’s follower group.
Personality Relevance: Compatibility in image and personality between the Influencer and the brand.
Content Relevance: Compatibility in viewpoints, content, and presentation style created by the Influencer with the brand’s image and the direction and message they want to convey in the marketing campaign.

RESONANCE

Resonance index depends on many factors, not just determined by the Influencer alone but also the brand’s credibility, the content of the message, and other campaign resources. The more carefully the resonance index is calculated, the higher the likelihood of the campaign’s success with the help of the Influencer.

“Live a Profitable Life” is a successful campaign with high Resonance index

For example, in a communication campaign by GAPIT Media: VietinBank’s “Live a Profitable Life” in collaboration with artist Den Vau, the resonance index was significantly boosted by multi-channel communication effects. The acceptance from the community combined with the resonance effect from many KOLs and KOCs on social channels like Facebook, TikTok with inspirational content naturally viralized the #songmotdoicolai hashtag with positive results:

Over 5000 posts with the #songmotdoicolai hashtag on Facebook;
Over 11.6 million views with the #songmotdoicolai hashtag on TikTok.

With additional resonance from “Show cua Den” held in Hanoi, the campaign garnered good interaction not only within the community but also achieved wide coverage on social media and news sites, attracting fans of Ha Anh Tuan – a special guest in the liveshow…

Besides, another resonance criterion to consider is the campaign budget, and afterward, businesses need to measure effectiveness to learn from the experience for selecting Influencer Marketing in the next campaign.

▶▶▶ Explore more successful Influencer Marketing campaigns with GAPIT Media

AI & Digital Marketing: A Powerful Ally or a Threat to Marketers?

Posted on 11 July, 2024 by tuvanweb_gapit

Is AI the key to success in digital marketing or does it harbor unforeseen risks? The balance is currently tipping more towards one side, let’s explore it together in this article by GAPIT Media.

AI: The Game-Changer for Digital Marketing

Artificial intelligence (AI) is booming and seeping into every aspect of life, from technology, medicine, education, and even digital marketing. AI brings powerful tools and solutions that help marketers reach and solve tasks more effectively, thereby improving campaign performance and revenue.

According to a HubSpot survey, marketers typically apply AI to the following tasks:

40% apply AI to Data analysis/reporting
39% apply to Research (market research, writing summary reports)
38% apply to Content creation

Below, we will delve deeper into the applications of AI in digital marketing:

Data analysis: AI helps collect and analyze large amounts of data from various sources, helping marketers better understand the behavior and preferences of their target customers. As a result, marketing experts can make more informed decisions when building strategies.
Ad optimization: AI helps users choose the right keywords, target audience, ad placement, and adjust bids in real time to optimize costs, increase conversion rates, and ad revenue.
Personalized user experience: With machine learning algorithms, AI can recommend suitable products, send marketing emails with attractive content and promotions for each customer segment. This helps build stronger customer relationships, increase loyalty, and encourage them to buy more.
Chatbots and virtual assistants: AI-integrated chatbots can support answering questions, providing product information, processing orders, etc.; reducing the burden on customer service, improving service quality, and increasing customer satisfaction.
Content automation: AI-based content creation tools can create articles, ads, marketing emails quickly and efficiently; saving marketers time and effort while increasing the effectiveness of marketing activities.

AI is still being applied to hundreds of other tasks in the field of digital marketing.

AI and The Creator: A collaboration or a competition?

AI has asserted its undeniable position in digital marketing, especially for tasks that require high accuracy and automation. However, in the field of creation, the role of AI is still a hotly debated topic.

While AI demonstrates remarkable creativity, its “artificial” nature is undeniable. While AI can simulate and support creative activities, it cannot overshadow the value of humans in this field. The limitation of AI compared to humans lies in the lack of personal perspective, emotional nuance, and authenticity. In the meantime, to create works of art, literature, and music, they all need to stem from the real experiences and emotions of the creator. In addition, AI is also limited by the data source, cannot extract information from limited sources, making AI unable to create completely original and thought-provoking content like humans.

AI will still play an important role as a powerful ally for marketers in general and content creators in particular. Instead of worrying about the development of AI, creators should take advantage of the strengths of this technology to optimize the creative process. Combining the power of AI with human creativity, intuition, and emotion will be the key to creating more impressive works than ever before.

GAPIT Media is also not out of the wave of applying AI in its marketing communication activities. To effectively implement and develop AI applications, GAPIT Media has invited leading experts in the field of AI technology to share knowledge and skills with employees. These training and guidance sessions help the company’s employees improve their understanding and ability to use AI-based tools and software in their daily work.

Currently, GAPIT Media has implemented AI applications in many different aspects of the workflow, such as: Researching information, directing content, generating ideas for creative publications, … thereby enhancing operational efficiency and competitive position in the market.