Crafting impactful sponsorships and ambassador partnerships can be a game-changer for iGaming brands. Dmitry Belianin, an industry expert, shares proven strategies to align your brand with the right partners, ensuring measurable success and avoiding costly missteps.
Understanding the Role of Sponsorships in iGaming
When should an iGaming brand turn to sponsorships and ambassadors? According to Dmitry, it depends on the brand’s stage in the market and its objectives. He explains:
“The number one brand attribute you need to embed is trust. Associating with the right people or teams is a must when entering new markets or launching a brand.”
For instance, a well-established brand in one region might struggle to establish trust in a new market. Partnering with an ambassador who resonates with the local audience can bridge that gap. However, sponsorships are less effective when viewed solely as traffic drivers. Instead, they should be part of a broader, creative marketing strategy.
Key Criteria for Selecting Sponsors and Ambassadors
To maximise impact, sponsorships must align with your brand’s attributes and market goals. Dmitry advises:
- Assess Brand Attributes: Identify what you want your brand to represent. For instance, attributes like trust, creativity, or boldness should guide your choice.
- Evaluate the Ambassador’s Image: “If you pick someone like Mike Tyson, you get attributes like playful and risky, but not necessarily trust,” Dmitry notes.
- Consider Market Relevance: Understand your audience’s values and preferences. For example, Budweiser’s partnership with UFC effectively targeted a masculine audience.
Red Flags in Sponsorship Selection
Not every partnership is a good fit. Dmitry highlights common pitfalls:
- Mismatched Attributes: Partnering with someone whose image clashes with your brand can dilute its identity.
- Risky Investments: Betting on volatile ambassadors or teams might backfire, leading to a loss of resources and market credibility.
- Unreliable Partners: Ambassadors with inconsistent behaviour or poor professionalism can derail campaigns.
Dmitry emphasises caution: “Until you’re a leading brand, avoid risky bets. Time and brand equity are too precious to waste.”
Measuring the Success of Sponsorships
One of the biggest challenges in brand marketing is proving its effectiveness. Dmitry suggests using brand tracking and funnel analysis:
- Brand Tracking: Measure attributes like trust or speed before and after a campaign. For example, an increase in “trust” from 0.1 to 6 out of 10 indicates a successful strategy.
- Funnel Analysis: Evaluate changes in brand awareness, consideration, and loyalty to understand campaign impact.
“Brand tracking is essential,” Dmitry says, though he acknowledges it’s a costly but worthwhile investment.
Avoiding Common Pitfalls in Ambassador Partnerships
Even with the right partner, ineffective execution can hinder results. Dmitry identifies three critical mistakes:
- Underutilising the Asset: Simply signing an ambassador isn’t enough. “You need to invest in marketing to extract value,” he explains.
- Lack of Creativity: A generic campaign undermines potential. Innovative storytelling and strategic integration are key.
- Choosing Based on Cost Alone: Opting for cheap or readily available ambassadors can hurt your brand’s image.
Creating Partnerships That Resonate
Building impactful sponsorships requires strategic alignment, careful selection, and robust measurement. As Dmitry concludes: “Be innovative and intentional. Treat ambassadors as valuable assets, not shortcuts to instant success.”
By following these expert strategies, iGaming brands can create partnerships that resonate with their audience, enhance their reputation, and drive sustainable growth.
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