The sport of triathlon is booming. Entry level sprint races routinely have 500+ participants, Ironman events sell out within hours and retail stores have opened that are dedicated to the multi-sport athlete. But beyond the swim-bike-run, beyond the training and dedication lies a serious business. Triathlons now attract major corporate sponsors and events are no longer just a race, but a multi-day experience. Take, for example, the new Lifetime Fitness Series. In 2007, there is $1 million dollars up for grabs for the winner of this new four race series. Ford, the title sponsor of Ironman North America and the Ironman World Championship, now offers a special edition Ironman Explorer. To gain some perspective on the business side of triathlon, I spoke with both Skip Gilbert, Executive Director of the USAT, the sports governing body, and Thomas Miller, Director of Sponsorship for Ironman North America. Below are excerpts from these interviews:
JF: How has the strength of triathlon, Ironman as a brand and the USAT impacted the business of multi-sport?
SG: Our athletes and triathletes in particular don’t focus on one sport but three. This generally attracts the type-A individual who is passionate and committed to defining their core personality by the sports they embrace. Our members are not just successful with these sports but take this characteristic to their professional lives and succeed there. This gives us a great psychographic and demographic profile to bring to the corporate community and allows us to deliver an audience who will be receptive and respectful to companies who embrace their lifestyle. In short, our pool of deliverables provides more opportunities to generate sales and improve the ROI.
TM: There is no question that the sport and the brand have grown in popularity as evidenced by the partnership of Ironman and Ford. While we will never have the participant numbers like some of the marquee marathons what we do have is the demographics in our athlete field that attract major sponsors. In addition to the demographics, Ironman athletes are considered to be significant influencers in their communities.
The recognition of the brand allows me to translate the marketing impact of the brand for our current and potential sponsors. The popularity of the sport keeps the opportunities for sponsorship full.
JF: What makes triathlon such an outstanding vehicle for corporate sponsors?
SG: It comes down to the audience. Our constituents define themselves by the sports they embrace. They don’t have just one uniform in their closet but a full wardrobe for a variety of activities twelve months a year. They travel, live life fully and spend on products that complement their lives. It’s an ideal market for any brand manager whose product aligns with this type of individual.
TM: Ironman has always been associated with best in class, the elite. For any brand that wants to be associated with those qualities and attributes such as Ford, Janus, HSBC, it becomes a perfect fit. The demographics lend itself to a perfect opportunity for brand sharing. There have been several case studies of sponsors that have become part and parcel to the sport. Cervello bikes are a perfect example. They developed a demo program that allowed them to leverage their partnership to get people on their bikes. They quickly rose to be the favored bike at the World Championship in Kona.
JF: What does the future hold for triathlon, Ironman North American and for the USAT?
SG: USAT has recently launched a new magazine and a Grand Prix Series. The driving force behind these or any of our new initiatives is to bring a stronger sense of community within the multi-sport family. The new magazine and a soon-to-launch redesigned website allow USAT to better connect with our constituents and help them better embrace this lifestyle. Our Grand Prix Series helps to inject visible excitement into the distance disciplines by connecting major races around the country into one marketable product.
TM: For the past 8 years, IMNA has been focused on producing the finest swim, bike and run events in the world. We feel in large part we have accomplished that goal. There is always room for growth and improvement which we continually strive for.
The focus of the company now is bringing the remaining elements of the events up to the level that we have achieved with the swim, bike and run. These would include the athlete village, the banquets and how we deliver back to our sponsors.
We are continually looking to technology to enhance the overall experience of the athlete, their families and supporters. An example of this would be the incorporation of Ironman TV in the athlete village.
Jon Fontane is Vice President of Adventure and Endurance Sport for Penfield Marketing Group, a sports marketing agency which specializes in enthusiast recreational activities. jfontane@penfieldmarketing.com.
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