Naming Rights Equal Brand Impact for Credit Union

Credit unions have a unique position—they’re more than just financial institutions; they’re community pillars. While many credit unions have mastered the art of engaging members through stellar website design, there’s another potent strategy that can amplify their brand visibility: naming rights. Just as a well-designed website acts as a digital storefront, aligning your credit union with high-visibility venues can elevate your brand presence to new heights.

Naming Rights and Brand Impact

Securing the naming rights to stadiums, arenas, and concert venues has become a popular and effective strategy for companies looking to boost their brand visibility and recognition. Whether it’s a global corporation or a local business, the opportunity to align with high-traffic, high-visibility locations offer benefits that go beyond traditional marketing approaches. 

Northwest Federal Credit Union and the Washington Commanders

A recent example comes from Northwest Federal Credit Union’s (NWFCU) new partnership with the Washington Commanders football team. In 2024 NWFCU became the Official Credit Union Partner of the Washington Commanders, securing naming rights and an exclusive financial services partnership.

This partnership allows NWFCU to elevate its brand by associating with one of the nation’s most storied football franchises. Through this agreement, the credit union will receive significant exposure through stadium signage, promotions and events which will help increase brand visibility locally and nationally. Additionally, the credit union will benefit from being able to offer exclusive promotions to Commanders fans, helping to build stronger relationships with the local community. 

A Deeper Emotional Connection with Fans

The hope in this collaboration is that the emotional connection Commanders fans feel toward their team can translate into a stronger emotional bond with NWFCU. This long-term, community-focused branding effort can help the credit union differentiate itself from competitors and build customer loyalty.

However, while the impact of such investments is often hard to track with precision, businesses continue to invest heavily in these partnerships due to their long-term brand-building potential. Northwest Credit Union falls within a list of the top 100 credit unions in the nation by asset.

Why Naming Rights Work for Branding

Naming rights offer companies a unique, ongoing opportunity for visibility. By attaching their name to a prominent venue, brands can stay top-of-mind for millions of consumers every year. Every event held at the stadium, every mention in the media, and every ticket sold helps reinforce brand recognition in a way that other forms of marketing, like TV or digital ads, can’t always match. There are several important ways naming rights can enhance a company’s brand:

1. Constant Exposure

Stadiums and arenas host a wide variety of events throughout the year, including sports games, concerts, and community events. Whether people are attending in person, watching on TV, or seeing the venue mentioned in news stories, the company’s name gets repeated exposure. This consistent visibility keeps the brand in the public’s eye, creating a level of familiarity that can lead to trust and, ultimately, consumer loyalty.

2. Emotional Connection

By associating the company’s brand with live experiences, the company can tap into this emotional connection. When people form positive memories at a venue, some of that goodwill may transfer to the brand sponsoring the venue. Over time, this connection can enhance the company’s reputation and help differentiate it from competitors.

3. Reaching Key Demographics

Naming rights deals allow companies to align themselves with specific audience segments. For example, a company sponsoring a football stadium may reach a predominantly male, sports-oriented audience, while a company naming a concert venue could appeal to a broader demographic. Tailoring naming rights to the company’s target audience allows for more effective brand positioning.

4. Local and National Impact

Depending on the prominence of the stadium or venue, naming rights can offer both local and national exposure. For a regional company, associating its name with a local stadium can help solidify its presence in the community. On the other hand, larger companies may opt for stadiums with national exposure, amplifying their reach across a broader market.

The Challenges of Measuring Success

While the benefits of naming rights are clear, tracking the exact return on investment (ROI) can be challenging. Unlike digital marketing, where impressions, clicks, and conversions can be easily quantified, the impact of naming rights is more nebulous. However, companies can track various metrics to justify the expense:

Brand Awareness Surveys: Companies often conduct surveys before and after securing naming rights to measure changes in brand awareness. These surveys can help determine how well-known a brand becomes after associating itself with a high-profile venue.

Media Mentions: Every time a media outlet mentions an event at the stadium, they also mention the stadium’s name—providing additional exposure. Tracking these mentions can help companies estimate the reach and impact of their naming rights.

Customer Growth: Some companies report an uptick in customer growth following the acquisition of naming rights. For instance, local businesses might see more foot traffic, while national companies could experience increased sales.

Partnership Opportunities: Naming rights deals often come with other perks, such as exclusive sponsorship opportunities, on-site advertising, and VIP access to events. These perks can be used to enhance relationships with customers, partners, and employees, creating intangible value that boosts the company’s overall brand strength.

Justifying the Expense of Naming Rights

With the cost of naming rights deals often reaching into the tens or hundreds of millions of dollars, it’s essential for companies to justify this significant expense. The key is to focus on the long-term, cumulative benefits rather than seeking an immediate, short-term return.

Long-Term Brand Equity: A naming rights deal is an investment in long-term brand equity. As the venue becomes synonymous with the company’s name, the company’s brand gains credibility and visibility. Over time, this increased awareness can translate into stronger customer relationships and greater market share.

Amplifying Other Marketing Efforts: Naming rights don’t exist in isolation; they are part of a larger marketing strategy. The visibility generated by having a company’s name attached to a stadium amplifies other forms of advertising, creating a multiplier effect. Whether through TV commercials, digital marketing, social media campaigns, website landing pages for campaigns, or community sponsorships, the company’s name gains added recognition thanks to its association with the venue.

Enhanced Corporate Reputation: For companies involved in their communities, naming rights offer an opportunity to position themselves as key players in regional development. This not only builds the brand’s reputation but also fosters goodwill among local consumers and business partners.

Employee Engagement: Naming rights also provide opportunities for internal marketing. Employees take pride in working for a company that is associated with a prominent venue. This pride can translate into improved morale, higher retention rates, and even enhanced recruitment efforts.

Beyond the Bottom Line

While naming rights deals require a substantial investment, they offer unique opportunities for long-term brand growth. By associating with high-traffic, emotionally resonant venues, companies can build their brand in ways that traditional marketing strategies often can’t match. 

The key to justifying the expense lies in understanding that the benefits are cumulative, extending across brand recognition, customer engagement, media exposure, and corporate reputation. When approached strategically, naming rights can be a valuable tool in a company’s broader marketing arsenal, offering lasting impact well beyond the initial cost.

P.S. Naming rights aren’t the only way to use the power of place-based marketing. If you’re not able to make that large of an investment, consider sponsoring local events or partnering with businesses in your community. Every little bit helps to get your credit union’s name out there!

Ready to take the next steps in marketing your credit union? Contact Ironistic today to discuss your goals and learn how we can help you make a lasting impression.