Local sports teams have the heart and support of their fans but they also need help from the local business community. Many businesses, including banks of all sizes and location, are often contacted by these teams to become one of their sponsors for the upcoming season. While it might seem like an easy decision, many bank marketers are asking whether they should make the commitment to sponsor these teams. Let’s take a look at whether or not banks are sports sponsors, why they should consider being a sponsor, and the benefits they will gain from sponsorships.
Do Banks Typically Sponsor Local Teams
The main question about banks and local teams is in the headline of this section, “Do banks typically sponsor local teams?”
While the answer to this question is “Yes,” it is important to know that not all banks sponsor teams in the same way. Here are three scenarios that show the different ways banks sponsor a sports team.
Sport Teams Sponsorship by Banks Scenario 1
When banks sponsor local sports teams, they often agree to purchase the shirts or jerseys worn by the team in exchange for their logo & contact information being printed in big and bold lettering on the front or back of the shirt as well as on the sleeves. This is considered to be the most common method for banks to sponsor local teams.
Sport Teams Sponsorship by Banks Scenario 2
Some banks choose to make a long-term sponsorship commitment by choosing a sports team that has adult members who have played on a consistent basis for many years and will keep playing for years to come. The reputation of the team and the consistent lineup of athletes on that team is a good marketing tool for the bank. In fact, the team is often considered to be the “house team” of the bank.
Sport Teams Sponsorship by Banks Scenario 3
Banks can also purchase a banner or some other signage that is displayed on the field where the team plays. The signage can be hung on fences, scoreboards and indoor/outdoor buildings.
What are the Benefits of Sponsoring Local Teams / Events / Organizations?
The benefits of sponsoring a sports team are numerous for a bank. In addition to being a branding opportunity that makes the bank more visible in the community, it is also a sign of community support that generates a good impression among the public. The bank will enjoy multiple avenues of visibility between the signage and their logo on the uniforms. The ongoing exposure will create foot traffic that includes new bank customers and businesses that come to the financial institution first when they are looking for a loan.
While it is up to your bank to decide which team to sponsor, we can help you with your signage design and production needs. Call for more info.
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