Brand pundits have forever stressed on the importance of brands creating long term associations. There is a vast choice of media that is available today to brand managers and media planners. Given a scenario where investments are often spread across disparate media, the onus is on the brand to tie the choices with a meaningful message.
The new century and the social media boom gave a new meaning and a fresh lease of life to what have come to be known as Integrated Media Properties. These are typically brand association opportunities that are multi-platform including a combination of TV, Digital, Print, OoH and On-ground events. The most popular being Live Action Sports events, Reality Shows and Award Functions with varying doses of the Bollywood glitz and glamour.
The media houses in order to retain a larger chunk of the marketing dollar conceptualized and networked to create more and more such opportunities throwing in dollops of commercial time, screen space, you name it to maximize brand presence. The agencies as expected were quick to evaluate and ascertain value of each such offering. Huge outlays were made possible with the promise and lure of multiple X returns on marketing investment. The brand teams were happy since they now had a “property” to associate with, build and nourish long term. The agencies and media houses of course were too happy to rake in the moolah. The bean-counters all round were happy too.
Nothing as they say is perfect! Soon with the pressures of economy and other dynamics the brands were shy of making long term commitments and vary of huge outlays. Owning a property didn’t seem that attractive. Several wound down.
Only the property “IP” owners with staying power remained in the fray. However, they sold the dream in parts to realize their investment. The “integrated multi-media platform” and “long term association” story that was used as the foundation crumbled under economic pressures.
There are several examples of “properties” having changed hands. However, to highlight the case in point I will take the example of the Champions League T20.
This cricketing event was almost force fitted into the international cricketing calendar. In its 5th edition the property has already had 4 brands as its title sponsors.
Airtel, for the inaugural season followed by Nokia the very next year, Karbonn for the next two seasons and now Oppo for the 2014 edition. The brands (Basis the Most Trusted Brands Survey) and the brand muscle eroding every subsequent year.
Gone were the benefits of long term association and even the media platforms if at all integrated, were not all available to the brands. Being the “Title Sponsor” no longer meant getting the fully loaded top end version with all bells and whistles. With the long term vision being out the brands did not really “own” the property and nourish it with their support across their other assets to engage the TG.
The best associations often become integral and a given. Some great examples of association exist in sports like tennis, football and F1. Wimbledon and Rolex, French Open/Davis Cup and BNP to name a few.
Marketers being marketers, “impact properties” became a more popular term of reference.
I am sure the numbers on RoMI all still add up. The question really is whether the brands are really building an association with the TG?