Tuesday 10 March 2009

Are Governments who now own banks starting to dictate marketing spending policy?

Governments who own banks now starting to dictate marketing spend policy?
http://business.timesonline.co.uk/tol/business/industry_sectors/banking_and_finance/article5860950.ece this is inevitable as governments who have bailed out banks and other financial institutions baulk as much on sports marketing spend as they do on bankers bonuses...


two sides to every story, taken in isolation the numbers can look big and some of the spend can look fluffy especially the B2B focussed sports deals that engage with small ( but highly targeted groups of clients), but that's part of the mix of where and how business gets done

These industries also have a dynamic and a model that depends on incentives and rewards..eg insurance sales, I know from personal experience the massive revenue generation opportunities around incentivising an Asian sales force with a trip to an English Premier League football match, serious millions of dollars of brand new, identifiable and measurable revenues.

Governments need to monitor the taxpayers investment BUT they also have to allow businesses to engage with their stakeholdrs in ways that deliver results. The biggest impact going forward apart from cancellation and non renewal of current deals will be the need for rightsholders and agencies to have 100% cast iron cases in pitching to this sector.

No comments:

Post a Comment