Image credit: Laureus
As we launch the 2024 Laureus Sport for Good Index and celebrate 11 new brands making a difference, I wanted to share some thoughts on the trends we have seen emerge over the past four years.
Since our 2021 launch, the world of sports has changed, and so has the role of brands within it. So, what’s shifted, why does it matter, and what do brands need to consider to turn sport into a powerful force for good?
First, I think it’s worth acknowledging the changing landscape in which brands are operating.
The sports industry continues to grow, with revenue increasing year on year, sources of investment diversifying, and new commercial models emerging. While this growth creates a huge opportunity, it also heightens competition. Brands are going to need to work harder to capture the imagination and hearts of fans, meaning sport for good could become a positive point of difference for today’s more discerning consumer.
Here are a few things brands should consider that will not only help them stand out, but also genuinely embody the principles of sport for good:
1. Collaborate to innovate
Seek out fresh perspectives and challenge both the ‘why’ and ‘how’ behind your initiative.
Gone are the days when delivery teams should be working on sponsorship in isolation. Whether drawing from internal resources, rights holders or collaborating with other brands, it’s crucial that partnership teams work beyond their silos. All pillars of the business should be bought in and part of the process, which is how fully integrated, multidimensional activations with impact across several pillars can be realised.
Once you’ve joined the dots inside your organisation, look outward to see where broader collaboration could amplify your reach and impact. For example, Dove, which has been recognised in this year’s Index, partnered with Nike to deliver their Self-Esteem sport campaign, sharing audience and infrastructure to make a greater collective impact – something I think we will continue to see more of.
2. Play to your strengths
Authenticity might be the most overused word in marketing, but credibility is key to driving impact. What’s the positive impact your brand can make in this partnership in sport? A campaign rooted in the brand’s core values is more likely to build a lasting legacy, evolving over time but staying true to its purpose. This consistency fosters a greater, more sustainable impact.
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3. Be in it for the long haul
Over the past four years of the Index, we have seen a significant shift from one-off campaigns to lasting commitments, with the likes of EA Sports announcing plans for a three-year investment in FC Futures.
Prioritising sustainable investment ensures that positive change is lasting rather than fleeting. One of my favourite parts of the Index is revisiting brands to hear about the evolution of their impact strategy, like sustainable footwear brand Hylo, which has now committed to donating one per cent of the company’s annual revenue to community-led, sustainability-focused running projects.
4. Be ambitious with your goals and transparent with your reporting
Too often, I finish reading a campaign impact report with more questions than answers. Don’t underestimate the value of transparent reporting at every stage – whether internally, with partners, or with your audience. Even if a goal wasn’t fully achieved, outline your plan for the future within a clear reporting framework. Integrity in reporting is essential to building trust and accountability.
As companies are under ever more scrutiny around their impact on the world in which they operate, sport is going to be no exception. It’s likely social impact initiatives are going to become the minimum requirement, and where we have already seen strides in commitment and prominence in this space, this will surely raise the bar of what best practice looks like.
As our standards for success in sport for good rise, so will the challenge of judging the Index – one we are ready to embrace.
To view the Laureus Sport for Good Index in full and learn more about why each brand is included, click here.