Increased Activity around Participatory Sports Events by Amica Insurance and What it Could Mean for Properties
Posted: 3/5/2010 1:20:46 PM by
Carrie Urban Kapraun | with 0 comments
Since 2008, Amica Insurance, based in Rhode Island, has really stepped up its marketing activity around participatory sports events, specifically triathlons and marathons. In 2010, Amica is the title sponsor of no less than 13 events across the U.S., including a series of 10 sprint distance triathlons, an Ironman 70.3 and two marathons. What is also interesting is that almost all of these events did not exist before 2008.
Amica’s increased presence around triathlons and marathons appears to be born out of a partnership with Eident Sports Marketing. Founded in 2006, Eident Sports Marketing, an event management and sports marketing company, is also based in Rhode Island.
The relationship seems to be representative of the development of more sponsor-created or sponsor-tailored properties. The partnership provides Amica with the opportunity to be the title sponsor of the events and Eident pretty much does everything else, including obtaining additional event sponsors. Unfortunately, I think this could create a real challenge for other participatory sports properties. Beyond competing for sponsor dollars among other participatory sports properties and other sponsorable properties in general, sponsees are competing with the sponsors they would like to attract.
In one of my earlier blogs, I addressed some of a brand’s risks and rewards associated with developing and executing a sponsor-created property. Risks to a brand included a significant investment of resources, the absence of borrowed credibility and the potential for consumer backlash as the result of poor execution. However, companies like Eident Sports Marketing can mitigate some of those risks and can make sponsor-created properties more attractive to brands.
Properties need to take note and look at where they are possibly failing sponsors. Is the creation of these events an indication that Amica was not impressed with the opportunities that were offered in the marketplace? Also, I have to wonder how Amica’s investment in these events compares to the investment they would have made if they would have sponsored existing events (assuming they could have found suitable properties).
Granted the Series is still small and there is always the possibility that the events are gone as quickly as they came, but maybe the events will become the next Life Time Fitness Triathlon Series.
Does anyone have any additional information on the Series or thoughts about it?
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Filed under: events, marathon, sports, agency