ING reaps benefits from F1 sponsorship

by Jacquie Bowser, Brand Republic 28-Nov-07, 12:20

LONDON - ING's sponsorship during this year's Formula 1 series has boosted the financial company's brand awareness worldwide, according to research demonstrating that existing and potential customers now have an increased willingness to do business with ING.

Research International surveyed 16,000 people in 32 markets and found almost 30% of those surveyed were more willing to work with ING as a result of the F1 sponsorship.

ING sponsored Renault's F1 team and had on-track branding at 14 of the 17 Grand Prix over the season, including the title sponsorship of the ING Australian and ING Belgian GPs.

Separate research by IFM has shown that ING was the second most visible F1 sponsor, according to the number of seconds the logo was on-screen during the official race TV coverage.

The Research International survey also found a 25% rise in the positive perception of ING among respondents, as well as a 7% increase in the perception of ING as a leading and global financial services firm.

Michel Tilmant, chairman of the executive board of ING Group, said: "The affiliation between ING and Formula 1 has already proven its worth. Our research shows that the programme has improved ING's global brand awareness and image. Heading into 2008, the ING F1 strategy will build upon the increase in awareness of ING to drive revenue returns."

Research International conducted the global ING survey at the start of the F1 season, and again at season close, after the Brazilian GP on October 21. Respondents were a mixture of male and female F1 fans and non-F1 fans, and customers and non-customers.

Next season, ING aims to continue building its business revenues via the F1 sponsorship by increasing promotional and marketing products tied to F1.