Harvard Case - Business Systems Group and the Triathlon Sponsorship Question
"Business Systems Group and the Triathlon Sponsorship Question" Harvard business case study is written by Michael Goldman, Jennifer Lindsey-Renton. It deals with the challenges in the field of Entrepreneurship. The case study is 13 page(s) long and it was first published on : Apr 28, 2014
At Fern Fort University, we recommend that Business Systems Group (BSG) proceed with the triathlon sponsorship, but with a strategic and data-driven approach to maximize its return on investment (ROI). This includes carefully targeting the sponsorship, measuring its impact, and leveraging the opportunity to build brand awareness and generate leads.
2. Background
This case study focuses on Business Systems Group (BSG), a rapidly growing technology consulting firm, considering a sponsorship opportunity for a local triathlon. BSG is looking to increase its brand awareness and generate leads, particularly among high-potential clients in the technology sector. The triathlon sponsorship presents an attractive opportunity, aligning with BSG?s values of health, fitness, and innovation. However, the decision requires careful consideration of the potential costs, benefits, and risks involved.
The main protagonists are:
- Mark Jones: BSG?s CEO, who is enthusiastic about the sponsorship opportunity.
- Sally Smith: BSG?s Marketing Director, who is tasked with evaluating the sponsorship?s potential impact.
- The Triathlon Organizing Committee: They are seeking a sponsor for the event.
3. Analysis of the Case Study
To analyze the sponsorship opportunity, we can use a framework combining financial analysis, marketing strategy, and risk assessment:
Financial Analysis:
- Cost-benefit analysis: BSG needs to carefully assess the costs of the sponsorship, including the sponsorship fee, marketing materials, and activation costs. They should also consider the potential benefits, such as increased brand awareness, lead generation, and potential revenue growth.
- Return on Investment (ROI): BSG should develop a clear ROI calculation based on the expected benefits and costs. This can include metrics like lead generation, brand awareness, and increased sales.
- Capital budgeting: BSG should use capital budgeting techniques, such as net present value (NPV) and internal rate of return (IRR), to evaluate the financial viability of the sponsorship.
Marketing Strategy:
- Target audience: BSG needs to identify the target audience for the sponsorship and ensure it aligns with their ideal customer profile. This may involve analyzing the demographics and interests of triathlon participants and spectators.
- Marketing plan: BSG should develop a comprehensive marketing plan that outlines how they will leverage the sponsorship to achieve their marketing objectives. This could include activities such as branding at the event, social media campaigns, and targeted advertising.
- Brand alignment: BSG needs to ensure that the triathlon sponsorship aligns with their brand values and image. This can be achieved through careful messaging and activation activities.
Risk Assessment:
- Financial risk: BSG should consider the financial risks associated with the sponsorship, such as the potential for lower-than-expected ROI or unforeseen costs.
- Reputation risk: BSG should assess the potential reputational risks associated with the sponsorship, such as negative publicity or association with unethical practices.
- Competitive risk: BSG should evaluate the competitive landscape and ensure that the sponsorship does not negatively impact their competitive position.
4. Recommendations
BSG should proceed with the triathlon sponsorship, but with a strategic and data-driven approach to maximize its ROI. Here are the key recommendations:
- Develop a comprehensive sponsorship plan: This plan should outline the sponsorship objectives, target audience, marketing activities, budget, and ROI measurement framework.
- Target the sponsorship effectively: BSG should focus on attracting high-potential clients in the technology sector by strategically engaging with participants and spectators. This could involve offering exclusive experiences, networking opportunities, and targeted marketing campaigns.
- Measure the impact of the sponsorship: BSG should track key metrics like lead generation, brand awareness, and website traffic to assess the effectiveness of the sponsorship. This data will be crucial for future decision-making.
- Leverage the sponsorship for lead generation: BSG should use the sponsorship as an opportunity to generate leads by collecting contact information, offering free consultations, and promoting their services.
- Build brand awareness: BSG should use the sponsorship to build brand awareness by creating engaging content, promoting the event on social media, and leveraging media opportunities.
5. Basis of Recommendations
These recommendations are based on the following considerations:
- Core competencies and consistency with mission: The triathlon sponsorship aligns with BSG?s mission of providing innovative technology solutions and its commitment to health and fitness.
- External customers and internal clients: The sponsorship targets BSG?s ideal customer profile and provides an opportunity to engage with potential clients in a positive and engaging environment.
- Competitors: The sponsorship allows BSG to differentiate itself from competitors and establish a strong brand presence in the technology sector.
- Attractiveness ? quantitative measures: BSG can use financial analysis techniques like NPV and ROI to evaluate the financial viability of the sponsorship.
- Assumptions: The recommendations assume that BSG can effectively execute the sponsorship plan, measure its impact, and generate a positive return on investment.
6. Conclusion
The triathlon sponsorship presents a valuable opportunity for BSG to increase brand awareness, generate leads, and establish a strong presence in the technology sector. By adopting a strategic and data-driven approach, BSG can maximize the ROI of the sponsorship and achieve its marketing objectives.
7. Discussion
Alternatives not selected:
- Not sponsoring the triathlon: This would limit BSG?s opportunity to reach its target audience and build brand awareness.
- Sponsoring a different event: This could be considered if the triathlon sponsorship is not financially viable or does not align with BSG?s marketing objectives.
Risks and key assumptions:
- Financial risk: The sponsorship may not generate the expected ROI.
- Reputation risk: Negative publicity or association with unethical practices could damage BSG?s reputation.
- Competitive risk: The sponsorship may not effectively differentiate BSG from competitors.
Options Grid:
| Option | Benefits | Risks | Assumptions |
|---|---|---|---|
| Sponsor the triathlon | Increased brand awareness, lead generation, positive brand association | Financial risk, reputation risk, competitive risk | Effective execution of the sponsorship plan, positive ROI, no negative publicity |
| Do not sponsor the triathlon | No financial risk, no reputation risk | Limited brand awareness, missed opportunity to reach target audience | N/A |
| Sponsor a different event | Potential for different benefits | Financial risk, reputation risk, competitive risk | Effective execution of the sponsorship plan, positive ROI, no negative publicity |
8. Next Steps
BSG should implement the following steps to maximize the impact of the sponsorship:
- Develop a comprehensive sponsorship plan: This should be completed within 2 weeks.
- Secure the sponsorship agreement: This should be finalized within 1 month.
- Develop marketing materials and activate the sponsorship: This should be completed within 2 months.
- Track key metrics and measure the impact of the sponsorship: This should be ongoing throughout the sponsorship period.
By following these steps, BSG can ensure that the triathlon sponsorship is a success and helps them achieve their marketing objectives.
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Case Description
In December 2012, the CEO of the professional services company Business Systems Group (BSG) called his management team together to evaluate the firm's continued sponsorship of the BSG Triathlon Series. The previous five years of the sponsorship were considered a worthwhile investment by the business, although the relationship with Triathlon South Africa (TSA) was becoming increasingly strained. The case charts the growth of BSG's business in South Africa and the United Kingdom, as well as the evolution of the sponsorship and relationship with TSA. The decisions facing BSG were whether to renew the sponsorship and build towards the Rio Olympics in 2016, continue with the BSG Triathlon Series without TSA sanction or exit the firm's involvement in the sport.
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