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Sponsorship and Sports – The ING Example: Running & Formula One

Sponsorship is one of the ways to build and strengthen a brand. And exercise is always a good goal. But sport is not the only goal. Sponsorship at ING consists of three main programs: sports, arts and culture, and community development. ING sponsors policy. (http://www.ing.com/group/showdoc.jsp?menopt=spr&docid=074368_EN&lang=EN)

Running was ING’s main goal for sponsoring sports events; because it is a sport of universal interest, practiced and accessible by millions of people around the world … One of the biggest events in our program is the ING New York City Marathon.

Running is one of the healthiest sports, healthy in many ways: it is a sport that can be practiced indoors, in nature, on the streets (New York) and almost anyone can participate and it does not require fuel.

Only recently, ING added a new sport to its sponsorship portfolio and that is Formula One, sponsored by Renault F1. Renault is looking for a new sponsor because tobacco sponsors (Mild Seven) have been banned from the stage (F1 and therefore television). There is also uncertainty about Telefonica; The Spanish Telecom company that could stop sponsoring Renault F1 after Fernando Alonso (from Spain) switched from Renault to the McLaren team).

ING is a company that is both an (investment) bank and an insurance company.

According to ING, …ING has chosen Formula 1 as a strong platform on which to build global brand awareness … The opportunities this deal provides include truly year-round global exposure. Grand Prix competitions are held in 17 countries, of which ING is active in 15 countries. Formula One attracts 850 million television viewers a year.

The operational difference, Formula One (sponsorship) is much more risky. Not only for what happened to Ayrton Senna. But Formula One is a more controversial sport than Running, maybe not as controversial as Bull fighting, but there are people who are against it.

Since ING is a Bank and also an Insurance, I would say that the operation would be better with an insurance image, Formula One more with an (investment) bank image.

© 2006 Hans Bool

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