The last 18 months have been hard financially for consumers and brands alike.
Marketing budgets have been stripped back and non-necessities questioned. Across the board, there was concern about how long the financial crisis would last. “Brands who weren’t in partnerships were putting a pause on investing in new partnerships,” says Louise Johnson, CEO of sports marketing agency Fuse.
“And brands that were already invested were doing less with what they were doing, and focusing on ‘less is more’,” she adds.
However, this looks to have changed. “I’ve definitely noticed in 2024 more brands coming into partnerships, brands who haven’t been in sponsorship for, like, 10 years,” says Johnson.
Fuse has had more briefs and more pitches in 2024, she adds, which reflects the increasing drive for brands to get involved, or re-involved, in the sports space.
Brands now think sport can help them modernise and “build trust back”, says Johnson. Plus, as media continues to fragment, connecting brands with culture through sport is a “great way” to go about it.
The Men’s World Cup in 2022, followed by the Women’s World Cup last year, were marquee moments for sport, and moving into 2024’s big summer, “marketers are being more optimistic,” says Johnson, while still being “very cautious” with their budgets.
“I definitely feel people are leaning into partnerships and sponsorships as a way to drive their brand, not just through traditional media and marketing channels,” she adds.
