ING has reported that its year-old
global branding deal with the Renault Formula One (F1) team,
coupled with on-track advertising at F1 races, has resulted in a 7
percent boost in consumer perception of it being a leading global
financial services firm and a 25 percent overall increase in a
positive perception of the bank.
The Dutch bancassurance giant added that 29 percent of
respondents to an ING-commissioned survey expressed an increased
willingness to do business with ING within the next 12 months. “The
affiliation between ING and Formula One has already proven its
worth. Our research shows that the programme has improved ING’s
global brand awareness and image,” said Michel Tilmant, chairman of
the executive board of ING Group.
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Independent research
ING commissioned independent research company Research
International to survey 16,000 people in 32 key global markets at
the start of the F1 season and after the season closed at the
Brazilian Grand Prix on 21 October, focusing on criteria such as
awareness and perception of ING, as well as their willingness to do
business with the firm as a result of the F1 sponsorship. The
respondents were a mix of F1 racing fans and non-followers, and
included some ING customers.
ING’s core goal for the F1 sponsorship programme was to develop its
global brand awareness and to help bolster the group’s image. “In
2008, our goal is to fully activate the F1 sponsorship in all ING
markets in order to make best use of our increased awareness, and
drive business into the group by continuing to promote ING’s
products and services,” added Isabelle Conner, director of ING’s F1
sponsorship programme.
Other financial services groups involved in F1 branding and team
sponsorship include Royal Bank of Scotland, which agreed a £30
million ($56.4 million) deal with the Williams team in 2005,
Germany’s Allianz and Spain’s Santander. ING has not revealed how
much it paid to sponsor the Renault team.
Further independent research by sports research company IFM, also
cited by ING, said that ING was the second most visible F1 sponsor
in 2007.
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