The six-year deal is worth about $18 million to $20 million per year, according to industry sources, and is believed to be the richest in college athletics history.
Earlier Tuesday, Ohio State announced a new corporate partnership with JPMorganChase that includes jersey patches for all 36 of the Buckeyes' teams. The bank will pay nearly $17 million per year to the athletic program, sources told ESPN's Pete Thamel.
Hopefully Brian White and co. are working on something like this soon. My choice... Wild Turkey Bourbon
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Wild Turkey might be a fan favorite, but likely wouldn't be a best offer. Someone head over to Capital One HQ in Mclean, VA and see what they will offer. They seem to love advertising around sports events and using sports figures (Jeter, Barkley, etc.)
I just have a hard time accepting that jersey patches really offer a corporation an ROI that even somewhat approaches $18 Mil.
I may be the exception here but never once have I made a purchase decision based on which patch is advertised on a team's jersey. If anything, I find them largely tacky.
But also to note, the former Big12 --Now Monster Energy Conference--is getting about $1 Mil/year/team for naming rights--seems even less impressive when you compare that to this.
I resent that any of our banking money is going towards either Notre Dame OR Ohio State.
Strangely enough, though, I wouldn't mind if it were VT.
Matt Brown has done a ton of reporting on Jersey patches:
is this going to generate $18m in ROI? Idk, but I could see how being the official bank of OSU would be worth $18m, and part of that deal is a jersey patch in all sports.
I have no clue how ROI in marketing works as the number of things ive bought because if ads are very small snd largely the actual ad didnt help, it only informed me of the products existence.
It's a highly debated thing (outside of targeted ads)
This may be true for you. And I'm sure millions of others. But there is power in the subliminal nature of messaging in advertising. Just being familiar with something can push you in that direction when it comes time purchase something they sell.
I think all of us like to think we're smart enough not to be fooled by it, but we are all influenced by it in some way, even if we try not to be.
At the end of the day, this may be the only part that matters anyway. If I get a crack in my windscreen from a rock chip or something, I know I'm calling Safelite. I'll probably shop around for others but Safelite is the only one I know exists. Because of advertising. They automatically get a seat at the table. That's all that some of these companies need and that's probably worth the $18mm to them.
I would consider myself pretty savvy in my personal finances, but when I have shopped mortgages or life insurance / etc, I look at the math but also there is a "is this a real company that is trustworthy" that is influenced by their public profile. I picked a slightly lower HYSA rate to go through discover rather than a tenth of a percent more for 1-800totallyawesomehysa.com (hyperbole but you get the gist).
yeah, exactly. People will pay more for name recognition. Advertising works.
Yep. I've worked on several corporate/brand equity or corporate/brand health or whatever you call them projects for pharma and medical device companies. Different places call them different things.
A few of pillars are used to determine the score, though they can differ slightly from project-to-project and how important each factor is in the total score differs, but company awareness is always in there if you are doing it at a company-wide level and brand awareness is always there if you are doing it at a specific product level. Company awareness is also almost always in there even if you are looking at specific brands. Point is, you have to be aware of something to have a positive view of it or use it, so it is always part of the calculation.
Other point brand equity is a strong predictor of future use. If brand equity is higher than product use, you can with a pretty high degree of confidence expect greater product use in the future. If brand equity is lower than product use, you are likely to lose market share. Not perfect 100% of the time, but we have benchmarks showing the trends.
If I have a structured settlement but I need cash now.... you know who I am calling, and it's the only game in town as far as I'm concerned
I may not go with them, but I will certainly call him as an option. If there are 20 options maybe I call 3... and he is one of 3.
On the flip side, if their ads piss me off or annoy me, I won't take my business to them
80/20 rule.
Pareto Principle: The 80/20 rule in advertising—also known as the Pareto Principle—states that 80% of your results come from 20% of your efforts. This means 20% of your ad campaigns drive 80% of revenue, 20% of your target customers generate 80% of profits, and 20% of your content actively sells while 80% informs or adds value.
Also the PT Barnum rule
Advertising works. Even if it doesn't work on everybody, it will work on somebody. Otherwise QVC, HSN, and the others would have closed up ages ago.
For Financial Services/Banking companies I see the case for these jersey patches being financially advantageous to be the absolute worst. Anyone with even the most remote amount of financial sense is going to make their decision on where to place or invest their money based on who offers the best rates/terms/security ect.
My personal bet is that a few things are true about this deal....
The $18M is somewhat of an inflated value, the maximum amount allowable under the contract and inclusive of marketing costs, ect. but that the actual "take-home" for the school is a smaller fraction of that
That inclusive of this deal are lots of "kickbacks" in which the school makes certain investments or accounts are shifted into the "banking partner" for the duration
Under those circumstances, I can see how this would make sense.
I would expect t also includes a certain amount of "Official business of the school", banner placements at each of the sports venues, announcements during radio broadcasts, etc.
I could get behind a Capital One sponsorship for VT. You know UVa has someone in there asking.
don't have to worry about uva, Zima is defunct. However, O'Douls is probably still game for them...
We will get a Carillion patch and we will all have to like it
Carillion needs someway to burn up more cash so they can stay a non profit ya know.
If you want Message Board Genius adjacent material... this is a fantastically hilarious take