With only 6% of Fortune 500 companies sponsoring women’s sports, there’s a massive opportunity for small and emerging brands to seize the moment.
Natori expanded its brand by partnering with Parity to incorporate athletes into its influencer marketing strategy for the first time, aiming to raise awareness for its loungewear, lingerie and sports bras. The collaboration resulted in a highly successful campaign, with Parity athletes delivering content that achieved four times the industry standard engagement rate. See the full case study here.
Despite the fact that women’s sports are rapidly growing in popularity, sponsorship dollars are still disproportionately focused on men’s sports. Earlier this year we learned that just 6% of Fortune 500 companies are sponsoring professional women’s sports. While it’s certainly disappointing to learn that 94% of the largest companies in the U.S. are failing to invest in women’s sports, there is a silver lining here - or rather, a gigantic “white space.” What this gap leaves is a massive opportunity for small or emerging brands to step into the spotlight and create marketing campaigns without having to fight against brands with massive marketing budgets.
For smaller brands looking to stretch their budgets and differentiate themselves in a crowded market, women’s sports present an ideal opportunity to make an impact.
Women’s Sports Sponsorships Are More Affordable
The reality is that currently, it is generally far less expensive for a brand to sponsor women’s sports than traditional men’s sports. Since men’s sports have been commercialized much longer than women’s sports (and therefore have received more support, resources and coverage for much longer than women’s sports) the price tag to back men’s sports is simply higher than women’s.
💡 Don’t believe me? This year the WNBA’s Phoenix Mercury signed a record jersey patch sponsorship with venture capital firm, Cleveland Avenue. The deal was reportedly worth $3 million per year, making it the largest jersey patch deal in the league. As a point of comparison, the largest reported jersey patch sponsorship in the NBA lives with the Brooklyn Nets, and is speculated to be worth $30 million per year.
The Phoenix Mercury announced a historic partnership with Cleveland Avenue, built on their shared commitment to investing in and supporting women – from athletes to entrepreneurs. The team introduced the first-ever rotating jersey badge as part of this innovative collaboration. The partnership kicks off with Partake Foods, selected for the 2024 season. Source: The Phoenix Mercury
The simple reality is that the market rate to sponsor women’s teams, leagues, events, or athletes is just much lower than men’s sports.
Women Athletes Are Effective Influencers
Beyond women’s sports currently being more of a “bargain” than women’s sports, there is also now a significant amount of data that proves that sponsors of women’s sports see incredible returns on their investments, especially when it comes to influencer marketing campaigns.
Earlier this year, a study from Parity and SurveyMonkey, revealed that the influence of female athletes extends far beyond the playing field.
When it comes to influencer marketing, women’s sports fans are 2.8x more likely to purchase a product recommended by a female athlete compared to other types of influencers.
Elena Bruckner is a talented track and field Parity athlete specializing in the discus throw, known for her strength and determination. As an influencer, she shares her journey of balancing elite training with a full-time career, inspiring her audience with insights on perseverance, career development, and the pursuit of Olympic dreams. See our Superfeet case study here.
While most consumer brands don’t currently have a “women’s sports” marketing strategy, many do have influencer marketing strategies. The data shows that it would be worthwhile for brands to start thinking about how they can tap into women’s sports and women athletes for their influencer marketing needs.
Connect With A Growing & Brand-Loyal Audience
Women’s sports are experiencing an unprecedented surge in fan engagement. High profile events like women’s #MarchMadness, the 2024 Paris Games, and the 2023 FIFA Women’s World Cup have consistently broken viewership records, while leagues like the WNBA, the NWSL, Athletes Unlimited, and the PWHL continue to level-up in popularity. However, despite the rise in women’s sports fandom, sponsorship & advertising dollars have yet to flow into the space like they do in men’s sports.
Team Sims guard Odyssey Sims (99) high-fives her teammates at the start of the game against Team Mitchell at Athletes Unlimited Arena. Credit: Lucas Peltier-Imagn Images
This disconnect creates a unique “white space” where small brands can make significant marketing gains.
By sponsoring women’s teams, leagues, or athletes, smaller companies can connect with an audience that is passionate, loyal, and often underserved by big corporate sponsors.
Women’s sports fans are increasingly looking to support brands that align with their values, particularly those that champion gender equity and inclusion. Across the globe, 32% of women’s sports fans are more inclined to purchase from a brand that supports women’s sports or sponsors women athletes. This figure jumps to 44% among U.S. female fans specifically.
By investing in women’s sports, brands can build authentic relationships with a rapidly growing, dedicated segment of potential new customers.
Lead in an Underrepresented Space
Finally, by sponsoring women’s sports, smaller brands have the chance to position themselves as leaders in a space that is still underrepresented. The growing spotlight on gender equity also means that brands investing in women’s sports are aligning themselves with a movement that is gaining momentum. By sponsoring women’s sports, brands can associate themselves with the empowerment of women athletes. As consumers are increasingly looking for companies that reflect their values, backing women’s sports is a powerful way to communicate a brand’s dedication to diversity, equity and inclusion.
Seize the Opportunity
For smaller brands, women’s sports offer an unprecedented opportunity to make a marketing impact without the heavy competition and high costs of men’s sports sponsorships. With the fanbase for women’s sports rapidly growing and media attention increasing, there’s a prime opportunity for companies to build lasting relationships with a passionate audience.
By getting in early, small brands can seize this “white space,” amplify their message, and lead the charge in a space that’s exploding with potential.
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If more Fortune 500 companies aren't going to lead from the front when it comes to sponsoring women’s sports, smaller brands have the opportunity to lead by example. The time is now to try-out a sponsorship in women’s sports - no matter how large or small your brand might be.
About Caroline Fitzgerald
Caroline Fitzgerald (she/her) is a contributing writer for Parity and the CEO & Founder of GOALS - a women's sports marketing consultancy & media platform. Caroline launched GOALS in 2020 after recognizing that there was an opportunity to help brands, networks and fans see the social and economic value that can come from investing in women's sports. GOALS also produces the leading women's sports business podcast - 🎙️The Business Case for Women's Sports, which is presented by Ally. For more information on GOALS, visit https://goals-sports.com or follow on Instagram, LinkedIn, Facebook, X (formerly Twitter) and Threads.
About Parity
Minority-founded in 2020, Parity's mission is to close the gender income and opportunity gap in professional sports. By developing high-impact collaborations between brands, professional women athletes and their fans, Parity has proudly put more than $3.5 million in the pockets of women athletes, attracting dozens of brands to the movement in the process. The platform offers connections to more than 1000 women athletes from 80+ sports, including well over 200 Olympians and Paralympians. For more information on how to tap into the rapidly rising influence and popularity of women athletes, visit https://paritynow.co or follow us on Instagram, LinkedIn, Facebook, X (formerly Twitter) and Threads.
