Snag Business Presents the Comprehensive Glossary of 100+ Essential Terms in the Sports Marketing and Sponsorship Industry
Navigating the sports marketing and sponsorship world can sometimes feel like learning a new language. By familiarizing yourself with the lingo, you will be better equipped to make informed decisions and build successful sponsorship strategies.
This glossary is a comprehensive guide to some of the most common terms and phrases used in the sports marketing and sponsorship industry for you to reference:
"Above-the-line"
In sports marketing, above-the-line refers to advertising activities that are primarily non-targeted and have a broad reach. These could include traditional forms of media like TV, radio, or print advertisements. For instance, a sports brand is launching a nationwide commercial for its new product line on television.
"Activation"
Activation in sports marketing refers to the strategies a company uses to engage with its audience and bring its sponsorship to life. This could include events, contests, in-stadium promotions, digital campaigns, etc. It's about turning passive sponsorship into an active experience for fans and consumers.
"Agency Effect"
The agency effect refers to an intermediary or agency's impact on negotiating and managing sports marketing contracts and relationships. They can leverage their expertise, network, and industry knowledge to secure beneficial deals for their clients, whether they are athletes, teams, or corporate sponsors.
"Ambush Marketing"
Ambush marketing is a strategy where a brand capitalizes on the publicity value of a sporting event without being an official sponsor. This could be done by creating advertising campaigns that indirectly associate the brand with the event or by leveraging social media to associate their marketing content with event-related hashtags.
"Articulation"
Articulation refers to clearly expressing or presenting a brand's message or value proposition. It's about communicating the brand's association with a sports entity and the benefits of that association to the audience.
"Asset"
An asset refers to anything of value that a sports entity can offer sponsors. This could include physical assets like advertising space in the stadium, digital assets like sponsored social media posts, or experiential assets like meet-and-greets with athletes.
"Audience"
The audience in sports marketing refers to the group of people the marketing efforts target. This can include fans of a particular sport, viewers of a sports event, or followers of a specific athlete or team.
"Awareness"
Awareness in sports marketing refers to the extent to which the target audience recognizes and understands the brand, product, or campaign being marketed. This could be achieved through various marketing strategies such as advertising, PR, social media marketing, and sponsorships.
"BAFO"
Stands for "Best and Final Offer." This term is often used in sports marketing during sponsorship negotiations when a company presents its ultimate offer to a sports entity.
"BATNA"
Stands for "Best Alternative To a Negotiated Agreement." It refers to the most advantageous alternative a negotiating party can take if negotiations fail and an agreement cannot be made.
"Below-the-line"
Below-the-line advertising is a more targeted and direct form of marketing, often used to promote specific products or events. Sports marketing could include sponsorship activations, direct mail, or digital marketing.
"Brand Activism"
Brand activism involves businesses making a stand on societal or political issues, expressing their values beyond what they sell or produce. Sports marketing might involve aligning a brand with campaigns for equality, social justice, or environmental sustainability.
"Brand Ambassador"
A brand ambassador in sports marketing is a person, often a well-known athlete, who is paid to endorse and represent a brand, enhancing its image and visibility.
"Brand Awareness"
Brand awareness refers to the extent to which consumers are familiar with a brand's image, qualities, or reputation. Sports marketing efforts often aim to increase brand awareness among fans and the broader public.
"Brand Equity"
Brand equity is the value a brand holds, derived from consumer perception and experience. Sports entities with high brand equity can often attract more lucrative sponsorships and partnerships.
"Brand Experience"
Brand experience involves all the interactions a person has with a brand. In sports marketing, this could encompass everything from attending a game to engaging with a team's social media to using a sponsor's product.
"Brand Image"
Brand image is how the public perceives a brand. In sports marketing, a team's brand image could be influenced by its athletes, performance, or community involvement.
"Branding"
Branding refers to consumers' perception and emotional response to a particular company, sports team, athlete, or event.
"Broadcast Analysis"
In sports marketing, broadcast analysis involves examining how effectively a brand or message is communicated during a sports broadcast. This can include analyzing visibility, message clarity, and viewer engagement
"Buzz Marketing"
Buzz marketing involves creating excitement or "buzz" around a product, service, or event. Sports marketing could involve releasing teasers about a new player signing or using influencers to generate excitement around a game or product launch.
"Category"
In sports marketing, a category refers to a distinct segment of products or services that a sponsor provides. Exclusive category sponsorship rights mean that only one company from a specific category (like soft drinks vs. beer vs. coffee) can sponsor a particular event or team.
"Cause Marketing"
Cause marketing involves a partnership between a corporation and a nonprofit for mutual benefit. In sports marketing, a brand might partner with a sports entity for a campaign focused on social or environmental issues.
"Channel"
A channel refers to the medium through which a marketing message is conveyed. This could be a traditional channel like television or radio, a digital channel like social media or email, or a direct channel like a stadium announcement or event activation.
"Clutter"
Clutter refers to the excessive amount of advertising or promotional material an audience is exposed to. In sports marketing, clutter could result from too many stadium sponsorship signs or commercials during a broadcast.
"Competitive Advantage"
In sports marketing, a competitive advantage could be anything that sets a sports entity apart, making it more attractive to fans, sponsors, or broadcasters. This could be unique access to a demographic, a successful team, a star player, or an event experience.
"Congruence"
Congruence in sports marketing refers to the perceived fit between a sponsor and a sports entity. A high level of congruence can make sponsorship more compelling and believable to the target audience.
"Corporate Social Responsibility (CSR)"
CSR involves a business committing to contribute to societal goals, such as by participating in philanthropy or environmental sustainability. In sports marketing, a brand might showcase its CSR efforts through sponsorship activities.
"Co-sponsors"
Co-sponsors are multiple companies that sponsor the same event, team, or athlete. Each co-sponsor benefits from the association, but they also share the spotlight.
"Cost/Benefit Ratio"
In sports marketing, the cost/benefit ratio involves comparing the costs of a sponsorship or marketing campaign to the benefits it generates, like increased sales or improved brand awareness.
"CPM"
CPM stands for "Cost Per Thousand" (M is the Roman numeral for thousand). It's a metric used in advertising to quantify the cost of reaching 1,000 potential customers or viewers.
"CPP"
CPP stands for "Cost Per Point." In advertising, it's a measure of cost efficiency that compares a campaign's cost to its reach within the target audience.
"Cross-Promotion"
Cross-promotion involves two or more entities promoting one another to their respective audiences. In sports marketing, a team might promote a sponsor's product while the sponsor promotes the team's games.
"Customer Profile"
A customer profile, also known as a buyer persona, is a detailed description of a brand's ideal customer, including factors like age, income, location, interests, and viewing habits. Understanding customer profiles helps sports marketers tailor their efforts to engage and attract the right audience.
"Demographics"
Demographics refer to the statistical characteristics of a population, such as age, gender, income, and education. Understanding the demographics of a sports audience can help marketers target their efforts more effectively.
"Digital Assets"
In sports marketing, digital assets can include anything from sponsored social media posts, website banners, and email marketing campaigns to virtual reality experiences and mobile apps.
"Discovery or Exploratory Session"
A discovery or exploratory session in sports marketing involves meeting potential sponsors or partners to understand their goals and needs. These sessions help to lay the groundwork for a successful partnership.
"Entitlement"
In sports marketing, entitlement refers to the naming rights that a sponsor receives as part of a sponsorship deal. This could include the naming rights to a stadium, an event, or a broadcast.
"Event Marketing"
Event marketing involves promoting a specific event, such as a game, tournament, or fan experience.
"Exclusivity"
Exclusivity in a sponsorship agreement means that only one sponsor from a particular product or service category can associate with a sports entity, preventing direct competitors from sponsoring the same entity.
"Experiential"
Experiential marketing is a strategy that engages consumers using branded experiences. In sports marketing, this might include interactive fan zones, virtual reality experiences, or opportunities to meet athletes.
"Fair Market Value"
Fair Market Value refers to the estimated price that a willing buyer and seller would agree to in an open market. In sports marketing, this could refer to the price of a sponsorship package, media rights, or merchandise.
"Frequency"
Frequency refers to the number of times a consumer is exposed to an advertisement or promotional message. The goal in sports marketing is often to maximize frequency to increase brand recall and recognition.
"Fulfillment"
In sports marketing, fulfillment refers to the execution of the agreed-upon elements of a sponsorship contract. This can include everything from delivering on promised advertising to providing the sponsor with the agreed-upon number of event tickets.
"Geofencing"
Geofencing involves creating a virtual boundary around a specific geographical area, often using GPS technology. Marketers can use geofencing to deliver location-specific advertisements or promotions, such as a discount code when a fan enters a stadium.
"Gross Rating Point (GRP)"
GRP is a measure used in advertising to estimate the reach and frequency of a campaign. It's calculated by multiplying reach (as a percentage of the total population) by frequency.
"Guerilla Marketing"
Guerrilla marketing involves unconventional, creative, and low-cost marketing tactics to achieve maximum exposure. Sports marketing might involve a surprise event or a unique, eye-catching advertisement.
"Hospitality"
In sports marketing, hospitality often refers to the experiences and services provided to guests at a sports event, such as seating, food and beverage, and VIP access. Sponsors often receive hospitality benefits as part of their sponsorship agreement.
"Impressions"
Refers to the number of times an advertisement or piece of content is viewed. Sports marketing could include views of a televised game, a sponsored social media post, or a stadium billboard.
"In-Kind"
In-kind sponsorship involves providing goods or services instead of cash. For example, an athletic apparel company might provide uniforms to a team in return for branding opportunities.
"Intangible Benefits"
Intangible benefits are the non-physical advantages a sponsor receives from a sponsorship, such as increased brand awareness, improved brand image, or enhanced customer loyalty.
"Integrated Marketing Communications (IMC)"
IMC involves coordinating all aspects of marketing communication (including advertising, sales, public relations, and direct marketing) to deliver a consistent message. Sports marketing could involve aligning messaging across game broadcasts, player endorsements, social media, and in-stadium advertisements.
"Inventory"
Inventory refers to all the assets that a sports entity can sell or offer to sponsors. This could include stadium signage, digital ad space, and player endorsement opportunities.
"IP Rights (Intellectual Property Rights)"
Intellectual property rights involve the ownership and control of intellectual property, such as logos, names, and designs. In sports marketing, a team or league might sell IP rights to a company, allowing it to use its logo on a product.
"KPIs (Key Performance Indicators)"
KPIs are measurable values used to track the success of a campaign or initiative. In sports marketing, KPIs for sponsorship include increased brand awareness, sales growth, or social media engagement.
"Lead Scoring"
Lead scoring is a marketing technique used to rank prospects against a scale that represents each lead's perceived value to the organization. A lead might be a potential sponsor or a potential season ticket holder. Factors that could influence lead scoring include the size of the company (for sponsors), previous buying behavior, and level of engagement with marketing materials.
"Licensing"
Licensing involves granting permission to use intellectual property rights, such as logos or trademarks, in exchange for payment. For example, a sports team might license its logo to a video game developer.
"Make-Goods"
Make-goods are additional advertising spots given to an advertiser to compensate for any shortcomings in delivering an initial agreement, such as not reaching the promised number of impressions or viewers.
"Mark"
In sports marketing, a mark typically refers to a logo or other identifiable trademark of a team, athlete, or event.
"Marketing Automation"
Marketing automation refers to software platforms and technologies designed for marketing departments and organizations to more effectively market on multiple channels online (such as email, social media, and websites) and automate repetitive tasks. This includes automating social media posts, email marketing campaigns, or customer relationship management.
"Media Equivalencies"
Media equivalencies refer to the estimated value of non-paid media exposure, such as news coverage or social media mentions, compared to the cost of paid advertising.
"Media Sponsor"
A media sponsor provides media coverage in return for association with an event. This could include pre-event promotion, live coverage, and post-event highlights.
"Not-for-Profit"
A not-for-profit organization does not distribute its surplus funds to owners or shareholders but instead uses them to help pursue its purpose or mission. Many sports organizations have associated not-for-profit foundations focusing on community outreach and charitable activities.
"Offer Letter"
An offer letter is a formal proposal from a sponsor to a sports entity outlining the terms of a potential sponsorship agreement.
"Omni-Channel"
Omni-channel marketing involves creating a consistent and seamless consumer experience across all channels and touchpoints. In sports marketing, this could include everything from in-stadium experiences to digital content to retail merchandise.
"Option to Renew"
An option to renew a sponsorship contract gives the sponsor the right to extend the agreement under the same terms for a specified period.
"Packaging"
Refers to how sponsorship assets are grouped and offered to potential sponsors. This could include various combinations of signage, digital advertising, or player endorsements
"Partnership"
In sports marketing, a partnership often refers to a mutually beneficial relationship between a sports entity and a sponsor or other business. The partner provides financial or other support in exchange for marketing benefits.
"Pass-Through Rights"
Pass-through rights allow a sponsor to transfer certain rights, such as using a team's logo, to a third party, typically for promotional purposes.
"Philanthropy"
Philanthropy involves making charitable contributions to impact society positively. In sports marketing, a brand might showcase its philanthropic efforts through sponsorship.
"Pre-Roll"
Pre-roll is an online video advertisement that automatically plays before the desired video content. In sports marketing, this could be a short ad for a sponsor that plays before a game highlight or interview.
"Property"
In sports marketing, a property can refer to a team, athlete, league, event, or venue that can be sponsored.
"Reach"
Reach refers to the number of people exposed to a marketing message or campaign. In sports marketing, this could include the audience of a televised game, followers of a social media account, or attendees of an event.
"Rights Holder"
A rights holder is an organization or individual that owns the rights to a particular asset, such as a sports event, broadcast rights, or a team's logo.
"ROI (Return on Investment)"
ROI measures the financial benefit received in return for a specific investment. Sports marketing could include increased sales, new customers, or improved brand awareness resulting from a sponsorship.
"ROO (Return on Objectives)"
ROO measures how well a sponsorship or other initiative meets its stated objectives, which could include non-financial goals like increased brand loyalty or customer engagement.
"Sample Rights"
Sample rights refer to the ability of a sponsor to distribute samples of their product at a sponsored event or venue.
"Scope"
In sports marketing, the scope can refer to the breadth and reach of a marketing campaign or sponsorship agreement.
"Sell Rights"
Sell rights refer to the ability of a sports entity to sell sponsorship or advertising opportunities associated with its brand or events.
"Signage"
Signage refers to visible graphics designed to convey a message. Sports marketing might include banners, billboards, or digital displays in a stadium.
"Sponsee"
A sponsee is a property (such as a team, athlete, or event) that receives support from a sponsor.
"Sponsor"
A sponsor is a business or individual that provides financial or in-kind support to a property in exchange for marketing benefits.
"Sponsorship Benefits"
Sponsorship benefits are the marketing and promotional assets a sponsor receives in return for their support. This could include logo placement, advertising rights, or hospitality opportunities.
"Sponsorship Effectiveness"
Sponsorship effectiveness refers to how well a sponsorship achieves its intended goals, including increased brand awareness, sales growth, or customer engagement.
"Sponsorship Fee"
The sponsorship fee is the amount of money a sponsor pays a sports entity for sponsorship benefits.
"Sponsorship Levels"
Sponsorship levels are different tiers of sponsorship packages, each with additional fees and benefits. Higher levels typically come with more prominent marketing opportunities.
"Sponsorship Policy"
A sponsorship policy is a document that outlines a sports entity's rules and guidelines for working with sponsors.
"Sponsorship Portfolio"
A sponsorship portfolio is a collection of all the sponsorships a company or sports entity holds.
"Sponsorship Structure"
The sponsorship structure refers to how a sports entity organizes its sponsorship offerings. This could include different levels of sponsorship, the types of benefits offered, and the costs associated with each package.
"Sponsorship Valuation"
Sponsorship valuation determines a sponsorship opportunity's monetary value. This typically involves considering factors like audience reach, brand alignment, and market conditions.
"Sponsorship"
Sponsorship is a business relationship in which a company provides financial or other support to a sports entity in exchange for marketing benefits.
"Sports Marketing"
Sports marketing involves promoting sports events and teams and marketing other products or services through sports.
"Status"
In sports marketing, status could refer to the standing or level of a sponsorship relationship or the current state of a marketing campaign or initiative.
"Strategic Alliance"
A strategic alliance is a partnership between two businesses that is mutually beneficial and involves sharing resources, technology, or knowledge.
"Supplier"
In sports marketing, a supplier is a company that provides products or services to a sports entity, often in return for marketing benefits.
"Term"
The term of a sponsorship agreement refers to its duration.
"Title Sponsor"
The title sponsor of an event is the sponsor with its name incorporated into the event's official name. This is typically the highest sponsorship level and comes with significant marketing benefits.
"Trade"
In sports marketing, trade can refer to an agreement in which goods or services are exchanged instead of money. This is often referred to as an in-kind sponsorship.
"User-Generated Content"
User-generated content is any content created by consumers rather than by a company or brand, such as photos, videos, or reviews. This content can be a powerful marketing tool.
“Value”
In sports marketing, value refers to the worth of a sponsorship or other marketing opportunity. This could be determined based on factors like audience reach, brand alignment, and the associated benefits.
“Venue Marketing”
Venue marketing involves promoting a sports venue in order to attract events, attendees, or sponsors.
“Virtual Signage”
In the context of sports marketing, virtual signage refers to digital advertising spaces that can be inserted into a sports broadcast. This allows different advertisements to be shown to different audience segments, maximizing the value of ad space for sponsors and advertisers.