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RT @InsideFerrari: Ferrari and Santander together until 2017 http://t.co/iGjflr3D #F1 #Sponsorship
Interesting to see how #London2012 sponsors use athletes - past and present - in activation and engagement #cisdcampbell
Banco Santander: brand awareness and brand recognition via Formula 1
By Andres Labourt
In September 2009 Formula 1 witnessed the beginning of one of the most exciting and challenging partnership in recent years. Banco Santander became the main sponsor of the legendary F1 motor-racing team Ferrari for the next 5 years for a staggering amount of 200 million Euros. The Spanish Bank has also agreed an extension of its sponsorship alliance with the other big F1 racing team Vodafone McLaren Mercedes.
In order to achieve brand awareness and brand recognition, Banco Santander has strategically partnered with two of the most successful teams in sports history Ferrari and McLaren.
With regards to the deal with Ferrari Emilio Botin, President of the Spanish Bank, said “I dare say that Santander is today in banking what Ferrari is in Formula One: an irreplaceable pillar and symbol of tradition, success and strength”.
Shared values between both parties are a fundamental requisite for any successful sponsorship; both aim to be among the best in the world: Banco Santander is the world’s third largest bank in terms of profits, while Ferrari has an extraordinary success in motorsports.
Undoubtedly Banco Santander considers sports sponsorship as a vital marketing and communication tool. It is also clear the Spanish Bank is aiming to reinforce and boost its brand internationally.
For instance, thanks to the partnership with Lewis Hamilton and McLaren Santander brand recognition in the UK has increased from 20% up to an 80% in the last three years.
Despite Alonso being an essential key player in the deal, Ferrari and Felipe Massa have an important role in this strategic alliance as well. Brazil is not only considered as one of the biggest markets for Santander but also has a huge growth potential in the upcoming years.
Alliances are essential in today’s business world and Formula 1 is a great platform for global companies who pursue international awareness and recognition. Banco Santander proves it!
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