I don’t know how many times I’ve heard people say that sponsorships are a sink-hole for marketing dollars. They are wrong. This piece from Prophet shows what happens when you get it right with Red Bull as the case study. They make four observations:
- Red Bull’s brand building is largely based on associating its brand with an amazingly wide range of people, teams and events.
- Red Bull believes in owning teams and events rather than being one of several sponsors.
- Because of this ownership model, they can and have turned this buzz machine into a profit center.
- Their on-brand activities reflect two very different personalities that live side by side.