How are brand sponsors and supporters measuring ROI from their TheNextwave investment?

Brand sponsors and supporters such as Hang Seng Bank, AXA, The Discovery Bay and Klook have seen positive return on investment (ROI) from sponsoring TheNextwave, one of the largest outdoor gigs combining beach carnival and music festival in Hong Kong, and it saw over 12,000 attendees over the past weekend gathering at Tai Pak Beach in Discovery Bay.

In a conversation with MARKETING-INTERACTIVE, Jordan Cheung, chief marketing officer of the event main sponsor Hang Seng Bank said there are two equally important aspects to measure the ROI from this event, including branding and business standpoint. He added:

First, on the branding side, we anticipated a significant uplift in brand perception, brand love, social engagement, and positive word of mouth, particularly among Gen Z consumers.

From a business perspective, Cheung said the festival has enhanced the use of credit cards, attracted new Gen Z customers, and enhanced our relationships with existing customers. 

“We are delighted with the success of the festival sponsorship, as it has not only bolstered our brand but also generated tangible benefits. This demonstrates our commitment to engaging with the younger generation and constantly evolving to meet their needs and aspirations,” he added.

In fact, Hang Seng’s sponsorship of the event aimed to bring its refreshed brand values to life through active engagement and reinforce its brand proposition of "Ever Growing. Ever Innovating", the slogan of its 90th anniversary campaign.

He said:

The beach music festival provided an ideal platform for us to demonstrate our unwavering commitment to continuous growth and innovation.

Understanding the deep desire for HongKongers to once again enjoy outdoor environments after the pandemic, Cheung said the bank saw the festival as a prime opportunity to connect with young adults in Hong Kong.

On a similar note, insurer AXA has also gained brand exposure and enhanced its brand image among its target audience, expecially Gen Z, through sponsoring the event.

In terms of its ROI measurement, Andrea Wong, chief marketing and customer officer, AXA Hong Kong and Macau said the number of participants to the event would be a leading indicator, together with the customer engagement from our social media communication and activation, and response from the post-event survey.

How can venue sponsors benefit from sponsoring the event?

TheNextwave Beach Music Festival, dubbing itself as the largest-ever beach music carnival in Hong Kong, featured a lineup of more than 20 singers and music units including local and overseas pop singers, rock bands, electronic DJs and hip-hop groups. They have transformed Tai Pak Beach in Discovery Bay into a one-of-a-kind summer wonderland. As such venue supporters and sponsors play a huge role in this instance.

Charlotte Ho, assistant general manager for brand and marketing, The Discovery Bay, said Discovery Bay developer Hong Kong Resort aspired to bring unique lifestyle to the Discovery Bay community and the public, and thus would introduce diversified events and activities in Discovery Bay every now and then, she added.

We believe TheNextwave could give more weekend leisure options to our residents as well as attract public awareness and footfall to Discovery Bay, which would benefit our commercial tenants here, such as restaurants, shops, hotel and the transportation units.

Furthermore, the event has brought a lot of different brands as sponsors, from banks, insurance companies to lifestyle and FMCG products, she believed the event was an excellent opportunity to showcase to everyone what Discovery Bay has to offer for any future marketing collaboration.

In terms of measuring their ROI from the event, Ho said Discovery Bay is positive to have double-digit percentage of sales increment during the event period.  

“The event has gained tremendous PR exposure through its online and offline advertising, consumer and trade promotions. As a venue sponsor, Discovery Bay has directly and indirectly benefited from all this awareness and marketing support.”

Needless to say, the ridership of Discovery Bay’s bus and ferry services is also another indicator of success.

On the other hand, other brand partners of the event such as Klook also gained significant uplift in brand exposure, social engagement and the share of voice in the market. A spokesperson from Klook said with the event successfully coming to an end, the brand has received over 100 KOLs Instagram mentions of itself on their social media platforms.

From a business perspective, the spokesperson said the event helped to connect Klook’s customers with new ones and attracted new users on the platform. 

“Here at Klook, we firmly believe in the potential of the local market and we have been continuously cooperating with relevant parties to provide more exclusive or priority bookings of large-scale events for Hong Kong residents and tourists, which theNextwave is a typical example to share,” the spokesperson said. 

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