Sep 22, 2009 at 10:38 PM
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SpongeTech to Shareholders: We Can Spend With The Best of Them

SpongeTech has become the sponsor salesman's best friend this year. Give us some moola, throw up a sign... whaaalaaa! Today, in a letter to shareholders, SpongeTech laid out some of the what, where and why's of the company's massive marketing spend. Here's an excerpt:

Dear Shareholder,

We want to address various questions many of you have asked over the past few weeks and to share with you our plans to grow the business and create shareholder value.

Since the beginning of fiscal 2009, we have transformed SpongeTech from an early-stage company with limited brand awareness and distribution reach to a company selling a broadened portfolio of products through multiple distribution channels supported by a host of very successful marketing campaigns and promotional activities.


Boosted Marketing and Promotional Activities

  • We expanded our sports sponsorship portfolio by entering into agreements with 26 Major League Baseball teams for the 2009 season and 8 National Football League teams for the 2009-2010 season.
  • We were also a sponsor of the United States Tennis Association and its premier event, the 2009 US Open, and are working on return on investment strategies to complement our sports marketing initiatives.
  • We are continuing our nationwide advertising campaign, which includes TV and radio spots, print ads, retail store flyers, professional sports sponsorships and ads, internet advertising, and charitable functions. During 2009, our marketing campaign was ranked in the top 10 list of advertisements by the Jordan Whitney Report and the Infomercial Monitoring Service, Inc. (IMS) Report.