Event Marketing - the Lessons from Red Bull Strategy Essay
However it’s also proven a difficult strategy to replicate, specifically because just how different it is from the traditional marketing model. It’s definitely not just about sponsoring a couple of youth events and calling it a day. The scale of Red Bull’s commitment to non-traditional marketing is unprecedented. As far back as a decade ago, Red Bull was spending more than 80% of their significant marketing budget on non-measured media. That’s completely …show more content…
Red Bull is fundamentally different in this regard. They create experiences that generate value for the brand and then they build equity in them consistently over time, just as most brands would do with important product innovations and sub-brands.
This is hugely cost effective compared to reinventing the wheel every year, and it ensures the brand becomes fundamentally woven into the lives of the athletes and influential consumers they wish to reach, as Red Bull is guaranteed to be part of their year, every year. Plus the audience often scales in size annually. Flugtag and Red Bull Soap Box race are now yearly highlights for many consumers, reaching in-person audiences of hundreds of thousand of people in many cities. In Brazil over one million people turned up for the Red Bull Air Race.
From the list below you can see sponsorship of some events such as Flugtag reaching back all the way to 1991, but the vast majority of the events they’ve created over the years are still ongoing, year after year.
Depth and breadth Another key differentiator with Red Bull is the incredible effort they have gone to in order to “own” action sports and become embedded in youth culture across the board. They have quite literally gone after every action sport you can think of, and in a number of cases essentially