Trends: How Much Value Does Your Business Get From Sponsored Events?

Trends: How Much Value Does Your Business Get From Sponsored Events?

Sponsored event influence on new vehicle purchases has increased 300 percent in the past five years, according to Foresight Research. Could these numbers translate to auto parts and accessories?

Automotive sponsored events are impacting new vehicle purchases like never before, according to the latest data from Foresight Research. The influence on new vehicle purchases has rocketed 300 percent in five years, the firm says.

In 2013 only 4 percent of new vehicle buyers report that they were influenced to purchase the brand they chose because of sponsored events. Today, that number has grown to 15 percent.

So, what brands are benefiting the most? That would be Audi, BMW and Cadillac. But brands like Fiat, Ford, Acura, Chevrolet and Nissan are not far behind, says Foresight. Among these brands, 1+ buyers out of 5 say they were highly influenced to purchase the brand they are now driving.

Because of the explosion in sponsored event importance, Foresight Research has developed a new approach to reporting and analyzing this marketing channel. The company surveyed 5,500 new vehicle buyers to find out what influenced their purchase. The firm looked at detailed information on 31 different events (who attended, what is the event reach, activations, why was the event influential and then the all important ROI).

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