It used to be that the Senior Bowl was one of the few showcases that every college football senior would make mandatory. There were few pro days at colleges, individual workouts or mega-systems where teams could do their own analysis prior to the NFL Draft. It was a right of honor to be selected and play in the game, which usually fell at a time and on a major network that would give those participants one more chance to shine before going to the NFL. The best of the best. There were a few others…the East-West Shrine Game on Christmas Day, the Hula Bowl and even the College All-Star game in Chicago that pitted the Super Bowl Champs against some of the top seniors in one last hurrah. Most of those have now gone the way of many “traditional” college events, swept off to the memory bank for an extra cautious and ultra protective group of athletes who won’t risk exposure or injury prior to Draft day.
The Senior Bowl, played in Mobile, Alabama, has survived as a showcase, albeit one less important than what it used to be. No longer on a broadcast network, the game has made its way to the NFL Network this Saturday afternoon. It is still unique in many ways, featuring many senior collegiate football stars representing the North and South, and coached by the entire coaching staffs from two National Football League teams. Senior Bowl practices are also attended by over 800 general managers, head coaches, assistant coaches, scouts and other front office personnel from the 32 National Football League teams, making Mobile and the Senior Bowl the week-long host to a one-of-a-kind NFL Coaches Convention. Some top stars skip the game, giving rise to others who may need the spotlight just a little more to improve their position. The casual fan does not make it a must see anymore, and may tune in for a few minutes. So what value could such a game have for brands that are not affiliated directly with football?
Well Merrill Lynch sees value. The financial services company, always looking for an edge in a diverse market, signed on as the presenting sponsor of the game, as much as for the wealth management potential than for the TV eyeballs. Merrill will get signage on the field and all the trimmings that go with sponsorship, but they will also get an audience, probably an ongoing one, with the athletes to talk to them about investing and other financial issues which they may not have experienced during their careers as student-athletes. In a time when players dollars can be large but fleeting, there is more cause for concern and protection than ever before, and more of a call for understanding and responsibility of finances than maybe for previous generations of athletes. Yes there are savvy managers who will invest and control a players dollars, but having that understanding of what is going on can lead to more long-term shrewd planning not just for an athlete, but for his or her family as well. Merrill is also in a referral business, one that has loyalty and customer service at the top of the priority list. If they are able to explain the values of wealth management clearly and effectively, their long term business for handling the financial background and investment work for not just these athletes, but for their friends and teammates, increases exponentially. While it may not be “insurance” as we normally think about the insurance business, Merrill’s Senior Bowl sponsorship can really help insure in a very direct way that they obtain and grow their business with athletes. There is also the aspect of all the other NFL and collegiate officials around the game and the practices this week. They too will always be in need of sound financial planning, so the pebble in a pond theory that this sponsorship and its good will can spread virally to those just around the game this week also hold water.
Is this sponsorship a key factor in Merrill’s approach to reach high net worth individuals? Probably not. It was probably a good buy that took some innovative thinking and is a bit of a chance to see if it works. It is probably much more hands on during the week in Mobile than say, hospitality events would be at a golf or tennis event with clients, but it is a great seed planting move by a well known brand in an ultra-competitive field. Maybe its not yet a touchdown for branding and business, but is at least moving the ball down the field. Very smart.
