Women’s sports attract significantly fewer commercial sponsors than men’s sports, which is creating an ideal situation for small business owners. By sponsoring female athletes and women’s sports teams many younger businesses can take advantage of an under-exploited marketing industry. In fact, a recent survey revealed that women’s sports only accounted for 0.4% of the total sports sponsorships. This indicates emerging business have an opportunity to connect with consumers on a massive scale.
There’s also a financial advantage for small business owners in sponsoring women’s sports. Since the market is under-utilized, advertising costs are significantly lower. This means businesses that have smaller marketing budgets can take advantage of opportunities that might otherwise be unavailable to them. Businesses can sponsor major sporting events without having to overspend on their marketing budgets. While men’s sports teams might require a marketing budget of $1 million or more, the same advertising opportunities can be had with women’s sports teams for six figures. That opens up the marketing playing field to a new segment of businesses.
Also, sponsoring women’s sports teams and female athletes allows advertisers to reach a different demographic. While their products might not appeal to the typical NFL fan, a given brand might better appeal to the fans of a women’s soccer team. Women make up the largest share of fans of women’s sports, so cosmetics companies and women’s fashion designers might find a more welcoming market in this industry.
While advertisers may not be drawn to women’s sports, the same can’t be said for the fans. A recent survey found that women’s sports in the UK grew attendances consistently year by year at a 38% growth rate. This year, the number of expected fans attending women’s sporting events in the UK is expected to surpass 682,000, which represents a 49% spike from 2017’s numbers. Last year, over 2 million viewers tuned in to watch the Women’s Rugby World Cup.
The growing audiences suggest this market won’t remain untapped for long. As women’s sports gains more attention, businesses of every size will look for ways to exploit the market. For smaller businesses, taking advantage of less costly marketing opportunities now may help them grow substantially in the future. Today, women’s sports offers a wealth of benefits for the few businesses willing to take a chance on an untapped market.