Principal Financial

Next Marketing helped the nation’s 401k leader leverage the power of a NASCAR team sponsorship into a B-to-B marketing program that resulted in a 67% increase in propensity to purchase among participating independent brokers and agents.

Our Work Case Studies Sports Marketing Principal Financial

EXPLORE

After several years as a media only sponsor, The Principal retained Next Marketing to determine what impact a deeper NASCAR sponsorship strategy might have on its core business objectives. Next identified that in order for a sponsorship strategy to be embraced by The Principal’s stakeholders it must conform to and compliment The Principal’s media-driven marketing culture, highlight the brand’s “We’ll Give you an Edge” proposition and engage its diverse and independent broker network.

Further, the strategy needed to be both flexible and turnkey to benefit The Principal’s de-centralized sales organization and myriad business divisions.

EVOLVE

Working with The Principal and their media agencies, Next demonstrated NASCAR Sprint Cup team sponsorship to be a valid medium to integrate with existing media efforts. The sponsorship would both enhance brand awareness and deepen partner relationships. Next then negotiated a multi-year sponsorship with a NASCAR Sprint Cup team and developed a season-long tactical execution plan which leveraged the sponsorship assets.

EXECUTE

Initially launched in 2006, The Principal’s NASCAR sponsorship has since grown into a multi-media, multi-platform marketing campaign that impacts a number of The Principal’s business units, brokers and customers across the United States.

EVALUATE

As The Principal’s sponsorship has progressed, Next has worked to expand its impact beyond the initial objectives of raising consumer awareness and deepening partner relationships. The program now includes a significant NASCAR B2B sales development component. Additionally, The Principal’s sponsorship has lead to a deeper customer involvement that allows use of Dale Earnhardt, Inc. to showcase The Principal’s products and services against the dramatic NASCAR background.