Volvo Ocean Race: Overview, Marketing, History

More documents

Recommendations

Info

52 CASE STUDIES SEB’S OBJECTIVES SEB’s objectives were set in response to a clear set of business needs. The objectives, particularly as regards media returns were specific and measurable. EXTERNAL • Strengthening the SEB brand in Europe, and launching the brand in Germany. • Creating unique opportunities to strengthen customer relations with existing and new clients alike. • Investing in a sponsorship property that created a return on investment of at least 200% in terms of media value alone. INTERNAL • Finding a platform for internal communications to integrate and unify the newly merged workforce. • Create broad involvement and participation from all of SEB’s business units. • To unite global employees behind a common cause. WHY THE VOLVO OCEAN RACE? The board of SEB were approached by Global Team, a syndicate formed under the leadership of the yachtsman Gunnar ‘Gurra’ Krantz, who presented the Volvo Ocean Race project and invited SEB to become the principal partner. Global team had solid experience from previous race campaigns including the Intrum Justitia and Swedish Match projects. The board carefully considered the Volvo Ocean Race and was satisfied that it would meet all of their objectives, both internal and external. The board felt that the Volvo Ocean Race offered the following advantages: • Brand image and target market: Research conducted by Research International into interest and participation in sailing in Europe indicated that there was an excellent match between the sailing audience and SEB’s target market. The bank was keen to create a ‘softer’ and more accessible image rather as a traditional bank with stiffer, more conservative values. In terms of brand value, the Volvo Ocean Race offers several attributes that matched
those intended for the SEB brand. These were excitement, endurance, professionalism, modern technology and teamwork. • Profile: The race has significant global profile as one of the world’s top premier sports but, most importantly, was well known in SEB’s key markets. The media profile provided the means of delivering SEB’s brand message effectively to an engaged and interested audience. • Internal engagement: As a truly global event with an 8-9 month duration and 18-24 month build up, the race offered an excellent opportunity to engage with employees across all areas of the business and encourage involvement not simply through the intranet but also physically in events organised around the stop-overs. • Client entertainment: There are a number of opportunities for unique, ‘money-can’t-buy’ client entertainment opportunities ranging from sailing days in the run up to and following the event and events created around the 8 or so stopovers in the ports around the world. • Return on Investment: SEB had canvassed previous sponsors of the race and conducted research that demonstrated that they should expect returns of between 200-300% on investment in terms of media exposure alone. STRATEGY SEB established Team SEB. The sailing team was allocated USD12 million over three years that represented their part of the cost of the boat and its crew. SEB allocated a further USD9 million to support value added commercial activities around the event. SEB decided to let the dramatic nature of the sport feed into and transform their brand identity. Working with a creative agency, they used highly distinctive green branding for the yacht and created an imaginary ‘green thread’ that represented the values of their team in the Volvo Ocean Race. This “green thread” flowed through all of their marketing, internal engagement and customer activities to create a consistent image. Using teams with well-defined areas of responsibility, SEB put together a commercial activity programme of impressive logistical complexity to support the event. The strategy proved prescient, as SEB suffered two major setbacks during the race, rudder failure and a dismasting, which wrecked any chances of the yacht winning the race. But SEB was able to continue with its programme OSKAR KIHLBORG, RICK TOMLINSON CASE STUDIES 53 53
Page 1 and 2:
SHARING IN GLOBAL SUCCESS The Volvo
Page 3 and 4:
Team SEB was a commercial success.
Page 5 and 6:
In terms of media evaluation, the S
Page 7 and 8:
The Volvo Ocean Race is a unique sp
Page 9 and 10: CONTENTS 2 INTRODUCTION 8 AUDIENCE
Page 11 and 12: GUIDO CANTINI INTRODUCTION 3
Page 13 and 14: through existing media coverage. Ta
Page 15 and 16: ace, it is estimated that more than
Page 17 and 18: 60 50 40 30 20 10 0 THE VOLVO OCEAN
Page 19 and 20: ‘INTERESTED IN’ OR A ‘SAILING
Page 21 and 22: PATRICK ANDERSON, RICK TOMLINSON ME
Page 23 and 24: even where whole programmes were no
Page 25 and 26: 16 14 12 10 8 6 4 2 0 MEDIA RESPONS
Page 27 and 28: programme coverage and news. With t
Page 29 and 30: WWW.VOLVOOCEANRACE.ORG: A TOP 100 W
Page 31 and 32: RICK TOMLINSON MEDIA STATISTICS 23
Page 33 and 34: % of respondents 90 72 54 36 18 0 T
Page 35 and 36: 45 36 27 18 9 0 STRONG INCREASE OF
Page 37 and 38: 45.0 40.5 36.0 31.5 27.0 22.5 18.0
Page 39 and 40: 70 60 50 40 30 20 10 0 200 TO 300%
Page 41 and 42: 35 30 25 20 15 10 5 0 FORMULA 1 IS
Page 43 and 44: Direct Brand Exposure (hh:mm) 17:5
Page 45 and 46: PRINT MEDIA The written media remai
Page 47 and 48: % OF RESPONDENTS UK WAVE 1 AWARE NO
Page 49 and 50: CARLO BORLENGHI YACHT SPONSORSHIP 4
Page 51 and 52: STEPHEN MUNDAY/ALLSPORT CASE STUDIE
Page 53 and 54: WHY THE VOLVO OCEAN RACE? The Volvo
Page 55 and 56: INTERNET/INTRANET An intranet site
Page 57 and 58: CLIVE MASON/ALLSPORT CASE STUDIES 4
Page 59: RICK TOMLINSON 51 CASE STUDIES 51
Page 63 and 64: CONCLUSION The companies conclusion
Page 65 and 66: RICHARD MASON/ASSA ABLOY RACING TEA
Page 67 and 68: were found on all of the world’s
Page 69 and 70: advertising, but would instead rely
Page 71 and 72: CONCLUSION 63
Page 73 and 74: INTRODUCTION IT IS UNLIKELY THAT CO
Page 75 and 76: over the side, and in spite of a fo
Page 77 and 78: causing controversy with large crew
Page 79 and 80: Prior to the start it was thought t
Page 81 and 82: Among the fleet was Simon Le Bon’
Page 83 and 84: Despite the dramas, nothing could d
Page 85 and 86: The victorious W60 was Yamaha, skip
Page 87 and 88: It was not until a third of the rac
Page 89 and 90: The Southern Ocean lived up to its
Page 91 and 92: THE OBJECTIVES REDUCE THE COSTS FOR
Page 93 and 94: THE NEW BOAT DESIGN Innovation has
Page 95 and 96: push their boats to the limit and i
show all

Volvo Ocean Race: Overview, Marketing, History

Create successful ePaper yourself

Delete template?

Save as template?