How to charge up electric car sponsors
Although sales of new fully electric cars in February 2020 were 243% higher than a year earlier (encouraging), this still only equated to 2,503 cars or 3.2% market share (much work to do).
As with any new technology, particularly one with such a high-level entry price (nearly £17k), car brands also have to do a lot of educating and carousing to entice customers, in addition to differentiating themselves in a market that is only going to become more competitive.
This is good news for rights holders, who have audiences that are both loyal and attentive so can help address the education, fierce competition and differentiation challenges. As Audi’s head of digital recently revealed, “We’re always looking at ways to cultivate fans and generate loyalty. We want to make sure customers become fans, as the car industry is fickle so you need them, really.“
Sport sponsorship offers a nice head start in this regard.
Further encouragement for rights holders is that they’re already preaching to the converted. Unlike many other new tech sectors, car brands have been huge users of sport sponsorship. However, the challenge to generate purchase consideration among fans presented by the high price points – not to mention the issues around charging convenience and range anxiety – means that sponsorship will have to be much more than a ‘badging’ exercise to be successful.
Therefore, rights holders are going to have to work extra hard on presenting creative activation ideas that are more likely to move consumers down through the purchase funnel to convince car brands they can accelerate purchase intent faster than other marketing channels.
Electric cars sport sponsorship is one of our new series of caytootarget™ reports designed specifically to help rights holders save time and resource when it comes to overcoming their key pain point – identifying viable target brands and hitting the right decision-makers with relevant and compelling proposals. We’ve covered sectors including:
- Health insurers
- Online investment platforms
- Challenger banks
- New brands launching in the UK
- Quick Service Restaurants & Food Delivery