How Brands Can Leverage March Madness in their Marketing Efforts?
Increasing Your Brand Equity by Associating with Popular Properties.
How Brands Can Leverage March Madness in their Marketing Efforts?
March Madness, the annual NCAA Men’s Division I Basketball Tournament, is one of the most popular and lucrative sporting events in the United States attracting a massive audience of sports fans and non-fans alike and generates billions of dollars in revenue. Consumer-focused brands can take advantage of March Madness by leveraging the excitement and enthusiasm around the tournament to promote their products or services to engaged consumers.
The Phoenix recommends the following strategies to better capitalize on the Madness around the tournament:
1. Create compelling content
Brands should create content that resonates with consumers by highlighting the excitement, passion, and drama of the tournament.
2. Host events
Leverage the popularity of the tournament by hosting events that bring fans together to watch the games, socialize and celebrate. Some examples include watch parties, tailgates, and live-game entertainment.
3. Partner with influencers
Leverage macro/micro influencers who have a strong following among sports fans. Examples include athletes, coaches, broadcasters and other personalities who are connected to the tournament and its fans.
4. Develop Social Media Campaigns
Create unique hashtags, interactive posts and share content related to the tournament and run social media contests to grab the attention of your target audience.
5. Create Branded merchandise
Develop unique branded merchandise, such as t-shirts, hats, and other gear, to capitalize on the excitement around the tournament. This is a great way to create a sense of community around your brand and generate engagement once the tournament is over.
6. Implement In-store promotions
Increase your ROI by developing unique promotions such as co-branded merchandise to associate your brand with this popular tournament and amplifying your voice beyond the tournament.
The Phoenix believes that March Madness provides a great opportunity to elevate brands to the next level. By building upon the excitement and enthusiasm around the tournament, brands can increase visibility, engage with their audience and generate incremental revenue.