Ahead of the Paris Olympics later this year, Financial Promoter looks to the financial services organisations leveraging sponsorship opportunities for the most prominent sporting event in the calendar.
The Olympic Games offer a unique position for brands to leverage both unique big-ticket and smaller sponsorship opportunities, from the exclusive Olympic Partner Programme to the sponsorship of an individual athlete.
According to research from brand consultancy BAV Group, official partners of the games garner a 117% increase in association with Olympic traits such as “daring,” “prestigious,” and “authentic.”
Brands also see a 49% increase in brand loyalty, 54% greater differentiation, and 39% more relevance against their competitors, it said.
The financial services companies leveraging the top spot in Paris include Allianz and Visa, two long-standing partners of the games.
Reportedly spending around £77.5mn each year to secure the spot, the insurer sees the games as a “unique way of reaching new audiences” as it ramps up its marketing efforts to expand its presence in the consumer market, according to Carolyn Rich, head of brand at Allianz Holdings.
Visa has been the official Worldwide Payment Technology Partner of the Olympic Games since 1986 and sponsor of the Paralympic Games since 2002. The sponsorship is grounded in shared diversity, equity, and inclusion (DEI) values and commitment to building a more inclusive world through sports.
When considering sponsorships, Visa looks to organisations with strong values that believe in helping others, said Frank Cooper, chief marketing officer at Visa.
“As a world leader in digital payments, we need to work with business leaders, athletes, artists, musicians, and creators that are not just good at their craft but align with our values,” he said.
Just two months out from the games, Lloyds Banking Group announced its title sponsorship of the Great Britain cycling team. The sponsorship will see the bank’s logo on the team kit and give it access to British Cycling’s revamped events drive.
Jayne Opperman, Lloyds Bank CEO consumer relationships, said shared values and the wide reach of the sport are the strategic drivers behind the sponsorship.
“Putting the wheels in motion, we aim to deliver impact by developing exciting new activities for people to get involved in,” Opperman said.
The partnership will see the brands working together to support people of all ages and abilities to access cycling and “encourage a more healthy, inclusive and prosperous Britain.”
The Paris 2024 Olympics is expected to amass over €1.24bn in sponsorship revenue for this year’s games and has already secured 99% of its target, according to chief executive Etienne Thobois, and financial services organisations across the globe will continue to play a big part in that budget.