The partnership eToro has agreed with West Ham United is the recent in a string of such deals brokers are keen on, in order to gain both vast exposure and the edge of the sporting scene. The Hammers has dubbed the deal “the Club’s first social trading partnership,” a term which may allude to their previous shirt sponsors, the defunct Alpari UK.
As far as eToro is concerned, with the Premier League sponsored by Barclays denying any stadium ad prospects, the focus of the partnership will revolve around online advertising and social media – in a deal estimated by Finance Magnates at roughly £200K. eToro’s Head of Brand Marketing explained the impetus behind the deal to Finance Magnates, and the way the firm is about to leverage it.
Why did you choose West Ham United to partner with?
West Ham United was an obvious choice for eToro. Their move to the Olympic Stadium in 2016 signifies the growth of the club in recent years, and we felt that was a great fit with our own growth and ambitions. eToro has expanded fast since founding in 2007 and we see this partnership as the next step in our growth.
We secured funding earlier this year from a number of major banks (Commerzbank in Germany, China’s Ping An and Russia’s Sberbank) and are working on a ground-breaking new trading platform, so it’s a great time for us to enter into a partnership with a club that’s as committed to success as we are.
The association with West Ham United should help boost the eToro brand in both established markets like the UK, and new markets like China
What is eToro hoping to achieve by this partnership? Who are the designated clients: UK fans or Asians?
Our primary aim is to grow eToro’s brand exposure in both the UK and globally, as well as building familiarity with social trading. Asia is an area of interest for us, having just opened an office in Shanghai, we are looking to build awareness in this region.
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The Premier League is one of the most popular football leagues in Asia and our association with West Ham is a great way for us to enter the region. eToro has an established client base in the UK and this partnership also gives us the opportunity to potentially grow this further.
What does the rights package entail?
The partnership rights are standard of this type of deal, encompassing brand building and advertising rights as well as the ability to educate football fans on eToro’s products. We are excited at the opportunity our rights will give us to target key regions as well as build our brand.
How do you intend to leverage the partnership in terms of brand recognition?
We hope to leverage the brand recognition in a number of ways. Brand exposure is a key element of this deal and the association with West Ham United should help boost the eToro brand in both established markets like the UK, and new markets like China. We will leverage the partnership through engagement with West Ham fans and eToro clients, as well as through co-branded digital assets and social media. This is a collaborative partnership with West Ham United and we are keen to grow together as we both aim for big things in the coming years.
Will eToro seek for additional, more cohesive partnership in the UK or Europe?
At present we will focus on building the eToro brand through the partnership with West Ham concentrating on maximizing our exposure through our series of rights. We view this as a great entrance into the world of sponsorship and we are not ruling out further partnerships in the future.