Sports marketing is big business, not just for the major sporting brands, but blockchain technology and the features provided by DeskBell Chain will help to create a new direction, writes Benedict O’Leary, ICO expert and advisor.
As Superbowl 53 approaches (the apogee of the domestic US sporting year in terms of commercials) advertisers go into overdrive securing precious advertising slots. The average cost for offline advertising — i.e. a 30-second tv sequence, was 5 million USD $ in 2018. It is estimated that the global sports market was worth 1.3 trillion USD$ in 2017, and that figure is only likely to grow as sports grow ever more in popularity and global reach. People are willing to spend money not just on watching sports, but also participating themselves at all levels. Sporting events provide the opportunity for clothing giants such as Nike and Adidas to promote and sell their wares to the public, promising their clientele better results, a better experience, the best time.
For Europeans the dominant sport is football, with advertisers vying for presence. 2018 witnessed the FIFA world cup held in Russia for the very first time, with all 4 semi-finalist teams representing European nations. In the wave of the success of this event both Expedia and Booking.com — the major online travel companies — have secured offline advertising deals with UEFA — the governing body for the sport in Europe. The idea behind this is simple — they wish to offer travellers the chance to stay in ‘unique’ accommodations and to maximise the experience of football-themed travels, combining a wide range of accommodation with the best ways to experience what each destination has to offer.
Blockchain technology offers a new direction in sports marketing and sport-related experiences for a whole new range of clientele. Imagine if you had an app on your mobile device that would enable you to do all these things at the press of a button and earn rewards at the same time. DeskBell Chain — a new application based on blockchain technology — enables you to do just that. Imagine you are a huge football fan and have travelled to support their team in a European cup game fixture. It’s the first time that you have ever visited the city, and you want to find out about the local culture and enjoy some local experiences. When you arrive in the hotel, thanks to the geolocation technology inherent in the app, you receive not only information about your accommodation, but also suggestions for experiences at local tourist attractions or even a private behind-the-scenes tour of the stadium where the big game will be played the next day. Or perhaps you want to learn how to make local delicacies or just eat them — simply complete some questionnaires or leave a review or simply upload some content from locations you have visited via the app, and you could be rewarded in tokens. These tokens can then be redeemed in unique locations across the city adding to the whole experience. For sports marketers the benefits are huge. Instead of just paying huge sums of money and hoping that their audience will interact with the brand, they will now have access to very detailed and accurate information about the behaviour and preferences of their target audience, and which goods are in demand.
For example, you are a keen runner who participates in events such as marathons and are willing to travel to exotic locations. If you have already indicated a preference for a certain brand, it will be aware that you are travelling and direct ads for the nearest branded store or retailer. It can also advise you of a special exclusive offer, accessible only via the app, that is taking place for a limited time at the exhibition, for example. So, in exchange for tokens you can obtain exclusive and limited-edition branded merchandise to ensure that you will be the envy of all your friends. For the sports company the effect is twofold — firstly they get free advertising as you wear their products, and secondly it reinforces your brand loyalty — i.e. their brand will be prioritised over others the next time you make your sports-related purchase. If you are an event promoter in a small destination, but have a small or limited budget, you can promote your event via the app and offer similar benefits — i.e. a reduction in the entrance fee or promotional clothing (again to help advertise the event) or free meal in a partner restaurant. You already know that you are reaching the target audience because they have participated in similar events. You also know that if your new audience sign up and enjoy your event they will recommend you to their like-minded friends, and so awareness snowballs and your event becomes a success and contributes to the local economy.
So, in brief, blockchain technology of Deskbell Chain has the potential to transform sports experiences and marketing by reaching out to a wider audience.