Just like products, athletes have target markets. A group of people or demographic they appeal to.
This is the first thing sponsors look at when deciding on sponsorship. So it would make sense that the broader appeal you have, or the more market segments you can cross, the easier it is to pick up sponsorship? Yep. Hold that thought.
Now, most athletes can only accommodate up to half a dozen big blue chip sponsors and maybe a few extra lower level sponsors or equipment sponsors. Anymore than that, is pushing it. There is only so much time for work, rest and play in the world of an athlete.
So if a high profile athlete is limited to six major sponsors, it would make sense that those sponsors have differing target markets right? This gives the athlete exposure in more markets. Broader appeal = more powerful brand = longevity in the sponsorship game.
If we look at Tiger Woods’ major sponsors, you will notice they broaden his appeal in different market segments. Guys like Accenture, AT&T, EA Sports, Gatorade, Gillette, Upper Deck, Laser Eye Centres, Nike and TAG Heuer cross many markets. Golfers, gamers, kids, middle age, high income earners, families, etc etc.
Before you run off and sign 10 sponsors in different industries. Know that you can’t be everything to everyone. Although Tiger’s appeal is broad, his management haven’t steered away from his own brand. They realise there is little reward in appealing to a big female audience. This would be a waste of time when they already have a pot of gold with Tiger’s core demographic of kids and white collar middle age males.
The trick is to work on your athlete’s brand first and then look at the different markets you can penetrate for maximum exposure with that brand.
