Volvo Ocean Race: Overview, Marketing, History

54 CASE STUDIES
and, at the end, report major successes. Whilst SEB finished second last in the
race they finished 4th in media terms. SEB always focussed on measuring the
race in business, rather than sporting, terms.
RELATIONSHIP MARKETING
SEB was able to organise over 350 events associated with the race, 95 of them
for over 100 guests, and there were over 400 opportunities to take people
sailing on the race yachts before and during the race. A total of 24,300 guests
were entertained using the Volvo Ocean Race as the attraction. SEB conducted
surveys to ensure the investment was well made – all events receiving high
approval ratings by the guests.
MEDIA VALUE
SEB says it achieved its aim of 200% return on investment in terms of media
value. From an initial SEK200 million investment it estimates a return of SEK440
million in media before, during and after the race. Most significantly, the
majority of SEB’s coverage was in Sweden, Norway, Denmark, UK, New
Zealand and Germany – many of which are key markets for the bank. In
qualitative terms, 72% of Swedes and 66% of Germans who new of the race
felt that the race had increased their knowledge of SEB. Approximately 70% of
Germans and Swedes had a positive attitude to the sponsorship, feeling that it
enhanced SEB’s image.
CUSTOMER AWARENESS
The race achieved 95% awareness in Sweden, with SEB becoming the best
known boat there, and 35% in Germany. Perhaps due to its striking livery
coupled with the comprehensive support of their sponsorship, the team SEB
boat was the third most recognised in the entire race, an amazing achievement
considering the placing of the yacht in the overall results.
INTERNAL ENGAGEMENT
From an internal marketing perspective, the SEB project was a huge success.
Initial reluctance to get involved from the German business was rapidly
converted to enthusiastic support. About 99% of SEB employees were aware
of the investment in the Volvo Ocean Race and about 84% judged it to be
positive with some 62% of them following race progress every week.