General discussion

The overall purpose of this research was to investigate the impact of promotional tools on the marketing strategy of an insurance company. The research question was formulated as followed: To what extent sponsorship can impact the marketing strategy of an insurance company in France?

In order to answer the main question, we will answer the four sub-questions.

SQ1: What is sponsorship and why it has gained the interest of insurance companies?

This question has been investigated in the literature review and also during the semi-structured interviews with managers.

The literature review revealed that sponsorship was a good investment in terms of image but also in terms of business. It is a way to convey messages, to communicate with the audience and to transfer values. Moreover, companies that use sponsorship can target specific audiences. For example, GMF is targeting Public Servants and the study case showed that this audience is specifically interested in rugby. Thus, the company manage to reach its core target through sport and sponsorship.

Moreover, one part of the semi-conducted interview questionnaire as well as one part of the consumers’ survey were dedicated to the advantages of sponsorship. Insurance companies but also consumers recognize that sponsorship is a good way to raise awareness. Thus, companies’ objectives are in lines with Millennials perceptions. This promotional tool enables companies to remain in customers’ set of consideration. In the end, insurance firms’ interest for sponsorship can be justified by the survey’s results. Accordingly, customers were asked to name insurance companies and some of their sponsorship deals and many of them managed to name different companies and identify their partners accurately.

SQ2: How do companies integrate sponsorship into their marketing strategy?

The literature review highlighted that all marketing decision should be aligned with the company’s global objectives and that all promotional tools that are implemented need to be complementary with each other. If all firms tend to integrate sponsorship in their marketing strategy, the managers interviews revealed that not all companies are doing it. Insurance companies are choosing the sponsorship contracts depending on the values that are carried out by the sport or the athlete and if the image of the sponsee fit with their brand image.

The study case presented two different realities that underline the fact that there is no unique strategy. Indeed, GMF has an historic partnership but sponsorship is not integrated yet in the marketing strategy. Hence decisions are independent from business performances. Whereas, sponsorship is deeply anchored in Generali’s marketing strategy and different departments are

The consumers’ survey revealed interesting information that companies should consider in their strategy if they want to reach Millennials. Indeed, Millennials are present on different media, consequently, companies need to be present on those tools in order to engage the Generation Y and to create relationships with it. This requires developing and integrating all different marketing tools.

SQ3: What do companies expect from sponsorship?

First of all, sponsorship is about brand image and communicating values. When firms decide to support an event, a sport team or a facility, they try to create brand associations and to increase their visibility. For insurance companies, the purpose of sponsorship is to communicate differently and to reach new targets. Behind this strategy, there is also the will to create new business opportunities. The companies that have been studied follow the same strategy: they are sponsoring the sport federations that they insure. Indeed, they both know that insurance comes with sponsorship in order to create a win-win situation.

Moreover, the consumers’ survey revealed that Millennials are attentive to sponsorship advertisement and that it sometimes influences their decision-making purchase intention.

Indeed, it is important for companies to select carefully the type of sponsorship they want to invest depending on which audience they want to reach. This is why companies are also present in student sport competition, the purpose is to attract new consumers but also new talents.

SQ4: How to measure the impact of sponsorship?

Measuring sponsorship impact is currently one of the main challenges that companies are facing. Indeed, new methods are developed but they sometimes remain theoretical. Both companies are implemented tools to evaluate the effects of sponsorship. For GMF, tools are more oriented toward the brand image and the media coverage as partnerships are not related to the marketing strategy. For Generali, the measurement tools are used to assess the effect on image and media coverage but also to evaluate business performances. The distribution channels are contributing to activate the sponsorship deals and the aim is to exploit them as much as possible.

Some agencies are also specialized in sponsorship studies and often give insights to company about their brand image, their legitimacy in the sport industry and about their position compared to competitors.

One other big challenge in evaluating sponsorship, is when executives need to take decisions.

Indeed, subjective bias may intervene, and the decision could be influenced by their personal interest when choosing or not to sponsor a sport.

Finally, sponsorship is deeply anchored in insurance companies’ practices, at least in the top French firms: Allianz, Axa, Matmut, GMF, Generali, all those companies are present on the sponsorship market and are always looking for new opportunities. Usually, sponsorship deals are win-win situations, thus every decision should be taken with the marketing department approval. Companies are more and more integrating sponsorship in their Marketing and Communication Mix in order to have consistent strategies. As the industry is highly competitive, firms’ are looking for new ways to stand out and sponsorship can be used to differentiate themselves and raise awareness.