Sun Life Gains a Foothold with Sponsorships

Posted on by Chief Marketer Staff

Attempting to gain share in the American financial services and insurance products market is no easy task. But over the last few years, that is what Sun Life Financial, a Canadian-based company, has accomplished. Its marketing has centered on sponsoring prominent sports and entertainment properties, like the Miami Dolphins Stadium, which was renamed Sun Life Stadium in January 2010.

“A brand is not built overnight,” Bill Webster, vice president of brand management for Sun Life Financial, said. “We needed to look for ways to get the brand name out there and aligned with properties that strategically made sense.”

The company relies on sponsorships to reach its two target groups: advisors and brokers who help companies select which employee benefit products to offer at their work sites and consumers who would be offered Sun Life Financial as an employee benefit program.

“We needed to invest in people understanding who we are and what we’re about,” he said.

When seeking a sponsorship, Sun Life has two main goals: securing an ownership position, and unique opportunities to host prospective and active clients on a consistent basis.

Its latest deal is title sponsorship of Cirque du Soleil’s new movie-themed show “Iris” set to open in September at the iconic Kodak Theater. The partnership gives Sun Life extensive brand integration across a variety of Cirque marketing vehicles including the use of Cirque intellectual property, marks and logos, prominent inclusion in the show’s extensive brand marketing campaign, branded on-site experiences and signage at the Kodak Theatre, as well as and VIP ticket and customer hosting opportunities. In addition,

Sun Life is granted the right to include “Iris” intellectual property in its advertising, marketing, digital, retail and internal campaigns and it will receive above-the-fold brand inclusion in Cirque’s media campaign, which includes print, digital, television, radio and out-of-home components.

On site at the Kodak Theater, Sun Life will have a significant presence during the run of “Iris,” which opens in September. An interactive display will be set up in the theater’s Grand Foyer to showcase its products and services, along with custom concourse displays and exhibits. Sun Life also gets the opportunity to custom design an exclusive event at the theater.

Sun Life measures its return on investment through media exposure, but more tellingly by the impact the sponsorship’s activities have on clients receptivity to taking calls or scheduling meetings.

“We found that our advisors were having to make two sales, one to explain who Sun life is and then to explain our products,” Webster said. “So it’s antidotal, but it seems to suggest that we are going in the right direction.”

Under other deals Sun Life, is the exclusive U.S. Insurance partner of Cirque du Soleil, an official partner for all U.S. Cirque Big Top and Arena Touring Shows, which include “Zarkana,” a new acrobatic spectacle in New York City, Michael Jackson “The Immortal World Tour,” and “Varekai” in Manila, Philippines.

In addition to its sponsorships, Sun Life rounds out its marketing portfolio with broadcast, print and digital marketing.

“We are pretty diligent about the amount of exposure we are going to get,” Webster said.

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