How Social Media May Be The Perfect Supplement To Sponsorship's Recovery
Like many companies, vitamins and supplements supplier, Herbalife, is going all in on not just marketing their brand to consumers, but letting consumers take control of the brand, and market it to each other. This, of course, is great news for those people and properties seeking to get their paws on a growing marketing budget, whether through social media or sponsorship. Like Prilosec and others, many leading marketers are fully realizing that as consumers now have the mediums to own and shape brands themselves (independent of traditional ads), it may be wise to allocate more dollars to helping them amplify their own stories. But as a marketer, how do you reduce the inherent risk of ceding brand control over to consumer? You ensure that the best, true stories are told the loudest (that's where something like sponsorship comes in). For an industry that according to some reports receded for the first time ever in '09, this trend could refuel the sponsorship fire -- in a big, big way. Sure the pie may look a little different. Perhaps more sponsorships at smaller amounts than before, but the overall pie may once again get back to growing, eventually at pre-recession paces.
Check out this snazzy "You Are The Brand" video showcasing Herbalife's portfolio of global sponsorships.
For more on Herbalife's new campaign, see Herbalife Launches Brand Campaign Starring Sponsorships