7 Emotional Factors That Influence A Property's Value To Its Partners
A new study by market research firms, Ipsos Reid and TrojanOne, recently identified and measured properties on seven key drivers of consumer sponsorship equity. Rather than evaluating on quantitative metrics, the study set out to value the emotional equity that a property has potential to confer on a partner through sponsorship.
“There are hard measures available – attendance, viewership, awareness,” said Jordan Levitin, Senior Vice President, Ipsos Reid. “But the industry has been asking for a measure of the ‘emotional’ connection that sponsors need to understand if they are truly connecting with their target audience through the sponsorship – if they are sharing some of the love consumers feel for the property”.
The study which talked to more than 1,000 Canadian consumers, was designed to measure consumers’ affinity and connection with a property and its impact on sponsorship.
Here are the seven factors of consumer emotion that the study used to evaluate properties:
1. Personal Involvement: connecting to the property on a personal level. It may have touched them in some way, improved their lives or led them to change behavior.
2. Creating the Moment: adding enjoyment and passion to their lives, helping Canadians create lasting memories, connect with others.
3. Impact on the Cause: trusting the property to use their contributions of money, time and energy to have a real impact on making their community, or the world, a better place.
4. Sponsor Fit: seeing a clear and logical fit between a property and sponsors who are true champions for the property, who ensure that it happens and that Canadians have access.
5. Responsible Management: a property has the appropriate governance and is not overly commercial.
6. Heritage: the property has a solid history and promising future. It helps define what it is to be Canadian.
7. Uniqueness: Is the only organization/event that does what it does.
Out of more than 100 Canadian properties measured by the study, Relay For Life, gained the top ranking.
“If you subscribe to the notion that sponsorship is the borrowing of equity and that the equity value is determined by consumers, stakeholders, employees and media, then the importance to our industry of this type of study cannot be overstated,” said Mark Harrison, President, TrojanOne. “Identifying the key drivers of equity has implications for all stakeholders in the sponsorship world.”