In collegiate athletics, cornerstone partnerships play a crucial role in driving both financial success and community engagement. These are companies that invest a significant portion of their marketing budget into the athletics programs, therefore becoming an integral part of the game day experience and local culture. Additionally, making it a large part of their overall strategy. This level of investment creates a deep, synergistic relationship where both brands can thrive. 

Local companies often make up some of the high-level partners that are essential to the athletics program. Their marketing strategy aligns with the company culture, and their support reflects a commitment to the community. By aligning their brand with the local athletic program the companies can become synonymous with the game day experience, fostering brand loyalty and community support. 

Let's take a look at a few examples of these long-standing large partnerships: 

First Horizon Bank and Tennessee Athletics

First Horizon Bank has been the official bank of University of Tennessee athletics for over 30 years, building a devoted fan base. The execution within this relationship ensures continuity and a lasting partnership. Through specific offerings to Tennessee fans including the Power T debit card, Affinity debit card program, and branding including the mascot and Lady Vols, the longevity of the deal can be quantified. The return on investment is ensured by integrating the bank into the fans daily lives. 

Tony Chachere’s and LSU Athletics

Tony Chachere’s Creole seasoning company has a unique partnership with LSU athletics, where the majority of their marketing strategy and budget is dedicated to this sponsorship. Their focus is heavily on just branding. You cannot watch an LSU game without noticing the branding of this company. There is an overwhelming amount of branding, and their large budget that spans many different sports has proven to be successful for both parties. 

“ When you have a client that is so in love with that school that they want to do the deal and they are going to have a passion to follow along with wins and losses, but you have to temperate with measurables,” Paul Sickmon, CEO and Founder of Knox Sports Marketing, explains. 

 

Seed and Feed Companies at the University of Iowa

With five different feed companies investing heavily in Iowa athletics, these partnerships highlight the unique passion of business decision makers for their local school. They compete in a category where few others in the country are generating money from. There are multiple feed and seed companies pouring money into University of Iowa athletics.The exclusive nature of these deals allows these companies to stand out in a competitive market, driven also by the passion the company has. 

Farm Bureau Insurance 

In contrast to the past two companies, insurance is a category in which it is difficult to make exclusive as it spans many different categories. Although, as a major client in several different states in college athletics, it demonstrates success in providing measurables through two different aspects: data capture and member benefits. Data capture allows the company to send the information to their agents by zip code for them to have the ability to reach out with an already warm lead. The member benefits offer exclusive opportunities with the respective schools’s sports teams. 

For these larger partnerships, incorporating elements of community and philanthropic give-back alongside traditional marketing is crucial in maximization. These campaigns build brand loyalty and direct association with the sports team, drive incremental revenue, and support the community mission. Additionally, these companies must continue to evolve to stay relevant within their marketplace. 

Key Goals of Larger Partnerships 

  1. Build brand loyalty by enhancing the connection between the brand and the local community 
  2. Drive business by incrementally increasing revenue and tying that back to the partnership
  3. Support community mission by aligning with community values, which therefore will enhance employee morale and retention 
  4. Increase brand awareness to ensure the company’s brand remains top-of-mind in the marketplace 

“Large cornerstone partnerships must continue to evolve, you cannot go back year over year and expect the same assets, renew the same deal. They are not on autopilot”  Brandon Parks, Associate General Manager at Vol Network, stated, emphasizing the importance of how to maintain these large partnerships. 

 

By focusing on these key areas, cornerstone partnerships can deliver immense value, benefiting both the athletic programs and the partnering companies. The synergy created through these relationships not only enhances the fan experience but also drives significant business outcomes. 

If you’d like to learn more on this topic, listen to our podcast episode, here.