Hankook Tire has signed a last-minute deal with the MLB for the upcoming season to be the "Official Tire of Major League Baseball"
The MLB season is finally getting started after a long winter. What you may not have noticed is that the MLB has recently signed a new deal with Hankook Tire to give them exclusive rights to their intellectual property for the next few years. Financial details and the exact length of the partnership have not been announced, but we do know it lasts multiple seasons.
Hankook Tires was founded in South Korea, but they do a fair amount of business in the United States. Naturally, the tire company will also be activating this deal in South Korea as well to make this a global partnership.
As a part of the deal, Hankook will receive on-site signage at the All-Star game and during the Postseason. Moreover, the MLB will utilize today's technology to digitally show Hankook's logo behind home plate for fans watching on TV.
Perhaps the most vital part to this partnership will be Hankook's use of the MLB's digital and social media presence. In today's world, you cannot limit yourself to the traditional modes of sponsorship and marketing.
Furthermore, the tire company will attempt to extend this partnership into the retail area by selling MLB-themed products and by creating fun contests for MLB fans.
1. For any marketing effort, the size of the audience is key. In this particular situation, Hankook will be reaching a huge audience in the United States and in South Korea.
2. It is always beneficial to be able to sell a tangible product as a form of activation as it helps confirm the message you are spreading with the partnership.
3. When you are contemplating a possible sponsorship, look at the sponsee's current partners to make sure your spot isn't already filled by a competitor. Exclusivity will make the message clearer and the partnership more valuable.
4. Any sponsorship today should involve activation in several mediums such as digital or on-site to name a few. Hankook will achieve this by diversifying their activation efforts.
5. Think of a team, league, or event you could partner with and create fun contests involving the game or event itself. Hankook has partnered with MLB teams before and have utilized fun sweepstakes which can be seen below.
Check out some pictures of Hankook's products and previous promotions below.
Written by: James Campbell
James Campbell is currently in his Senior year at the University of Michigan. In May of 2018, he will receive his BA degree in Sport Management. Throughout his time at Michigan, he has worked with Detroit City FC, MiLife Sport & Social Club, and USA Hockey. - @Jimmy10Campbell