Increased exposure for the team also will likely mean more sponsorship interest and dollars, particularly for a longtime underdog. George Washington’s Zavian compares Northwestern’s success to when George Mason reached the Final Four in 2006.
“That has a value to sponsors,” she said.
Tom Haidinger, president of sponsorship agency Advantage Marketing, which helps corporate clients with their sports and entertainment strategies, said Northwestern will benefit from its first-ever NCAA Tournament appearance, but to varying degrees.
Short-term benefits will include the public-relations value of a “feel good story” and a better basketball recruiting pitch.
Long-term benefits to the on-court success will include a bigger and more devoted fan base, meaning greater consumption of Wildcats media, tickets and merchandise.
That could, in turn, increase corporate America’s interest in the team through bigger sponsorships and stepped-up advertising on TV, radio, digital, social media, mobile, print and in-arena signage. Official sponsors can run promotions using official Northwestern marks, logos and special access opportunities as a “proud sponsor” of the team.
“Competitors can’t do that,” Haidinger said.
More media attention will also make nonfans more interested in the team, particularly feeding “America’s fascination with a “Cinderella story” and leading to more streaming, watching and reading of content about the team, Haidinger said.
Chris Smith, a Forbes reporter who has written about the value of college basketball teams, said the real financial boost for schools comes from turning on-court success into new fan interest, which, in turn, generates increased revenues from tickets, merchandise and alumni contributions.
“So making the tournament this year should certainly help in those areas for Northwestern, though it’s difficult to predict exactly how significant, or how lasting, the financial impact will be,” Smith said. “A deep tournament run would be even better, though that also comes with a bigger upfront cost for things like travel, lodging and coaching staff bonuses.” A small school can initially lose money going deep into the tournament, he said.
The real key, he said, is making perennial trips to, and getting deeper into, the tournament.
Louisville, Duke and Kentucky lead all college basketball teams in annual revenues largely because they’re constantly in the championship hunt, he said.
“So while this year’s tournament appearance has obviously created a lot of interest among Northwestern fans, the truly significant boost will come from regularly returning to the dance in years to come,” Smith said.
Article Appeared @http://www.chicagotribune.com/business/ct-northwestern-ncaa-basketball-0316-biz-20170315-story.html