How would data gathering help sport marketers and naming rights holders? Firstly, it would help in seamlessly matching the audience to the right consumer segments. For example, if a basketball arena attracts both first time and luxury car buyers, the right data can help in determining who’s who and help the brand create targeted initiatives for each segment.
Drilling for Oil….
Rolling the Dice in 2006, Lucas Oil purchased the naming rights to Colts Stadium in Indianapolis, Illinois. The Naming rights cost Lucas $122 million over a 20 year span. 6 years into this contract Lucas Oil “struck oil” as the Colts had made it to Super Bowl, to top it off Illinois won the bid the same year to host the event that then in turn catapulted Lucas Oil onto an invaluable yet unexpected Global Marketing platform. Lucas estimates this single event alone has increased revenue by $10 million and Lucas Oil hasn’t looked back since.
