F1 sponsorship: flagship branding initiative
ING’s inaugural year in Formula One in 2007 inspired the company’s first-ever global advertising campaign. Strong TV, print, and on-line advertising, the title sponsorship of the ING Renault F1 Team, and on-track branding helped increase brand awareness among the target audience, which rose from 69% to 74% in selected ING markets. The most significant awareness growth occurred in Central and Eastern Europe and in Asia – key regions for ING’s growth strategy. Additionally, the data also indicate a 25% increase in positive perceptions of ING and that, among non-customers, 29% expressed an intention to take up financial services from ING within one year.
Business units have discovered the importance of F1 branding efforts to generate revenues and commercial growth. In all, 42 business ‘activations’ took place, including ING Direct F1-themed promotions that brought in more than 100,000 new accounts, F1-themed credit cards, and retail promotions that netted tens of thousands of new business leads.