The Power of Futbol

Banco de Chile has decided to use the marketing strategy of sponsorship and is financially supporting the national futbol team.  Lascu's marketing principles book explains sponsorships: "Sponsorship marketing involves a company paying a fee to an event, person, or organization in ex- change for a direct association with that event, person, or organization".  In exchange for this financial support, Banco de Chile has created a valuable direct association with the all-mighty Chilean futbol team.  In order to capitalize on this partnership, the Bank has developed one of the most motivating advertisements that I have ever seen.  Here is the link if you have not watched it: http://www.youtube.com/watch?v=tmLmWiqSVS8
Selecting the heroic Chilean miners to deliver this message to the team and country proves very inspiring.  The commercial creates a connection between the two underdog stories of the Chilean national team and the trapped miners.  Even as a foreigner, I can honestly say that this commercial is effective in moving me and creating emotions within.  One can definitely feel the genuine power and passion in the miner's words.  It does a great job of "pumping up" the fans to stand behind their country's football team no matter what the odds are.  But what does this advertisement and sponsorship do for the Banco de Chile?  The stories of the Chilean futbol team and miners lie in the hearts of all Chileans and this association with the bank will definitely do great things for their brand.  Even if Banco de Chile is not the first thing that viewers will think of when they see this advertisement, the fact that they are the company that developed and brought the commercial to the public means that the Banco shares these same Chilean values.  Not too mention the millions of views that the video has gained on youtube.  Sponsorships are interesting because they might not seem effective initially, as the commercial barely even mentions the bank.  But in reality, the sponsorship shows the Chilean public that our company supports the team and shares the same values as all Chileans.  This is something that not all commercials can do effectively.