#1: BMG Is Competing With Large Companies
Citibank has its own branches in Brazil, and there are a few other massive banks in Brazil that are direct competition for BMG. Ricardo understands that the BMG name must be as widely-known as the names of his competitors. Businesses are sponsoring sporting events all the time, and Ricardo does not want to give away airspace to his competition. The bank’s solvency depends partly on how well it is marketed to the public.
#2: Sporting Events Draw International Attention
The football matches that are played in the Brazilian league draw international fans every day. Fans of these teams are all around the world, and these matches can be seen online. Placing the name of BMG Bank where everyone can see it further makes the bank a worldwide force to be reckoned with. Ricardo is old enough to remember when BMG was a national brand, but he knows that he cannot compete with the likes of Citibank without international appeal. Sponsoring every sporting event possible creates the international appeal he is looking for.
#3: Prices Are High
Ricardo understands the risks he is taking when using BMG funds for sponsorships, but traditional advertising is just as expensive. Print and TV ads cost money, but print and TV ads do not become synonymous with a football club. The BMG name that is on the jersey of a Brazilian team will soon become an identifier for that team. Sports commentators will use the BMG name to talk about the team who wears the name, and the BMG name will be commonly used in every ay language.
#4: BMG Has Broad Appeal
Ricardo has helped grow BMG into a bank that has broad appeal across Brazil. BMG offers loans to companies that need small infusions of cash, and the bank offers private loans to citizens every day. Some banks are focused on corporate financing, but Ricardo wants BMG to be a bank of the people. Marketing through sporting events simply enhances that image.
Ricardo Guimarães is the latest in a long family line that has run BMG Bank for nearly a century, but he is thinking like a modern man. His sports marketing plan will bring the BMG name to households that would never have heard it in the past.