Sponsorship valuation company Hookit has agreed to a multi-year partnership with the Cleveland Indians. Hookit is the leading platform for quantifying sponsorship value earned across all forms of social and digital media for brands across the sports industry.
Using the Hookit Valuation Model, the Indians will track and measure social media engagement on accounts related to the team, players, media, and fans. The sourced data will be leveraged by the Indians for future negotiations with potential sponsors.
“Cleveland fans have proven to be among the best in the country, which will certainly shine through as we help the Indians prove the value they are creating for their sponsor brands,” said Kimberly Cook, Hookit’s Chief Revenue Officer, in a press release.
As part of the deal, the Indians will also receive access to Hookit’s competitive analysis tool, which compares the Indians digital and social media sponsorship ROI against the other 29 MLB teams. Hookit has already worked with brands and rights holders across sports, including the Oakland Raiders, Indycar, and the Washington Wizards.
“With Hookit, we are excited to complement our on-field success with optimized content and more value for our team sponsors,” said Ted Baugh, Senior Director of Corporate Partnership for the Indians, according to the press release.
SportTechie Takeaway
Major League Baseball is becoming increasingly dependent on data analytics, from the way teams are constructed on the field to how team’s evaluate sponsorships off the field. This year’s World Series champion Boston Red Sox were applauded by SABR president Vince Gennaro for the club’s effective use of performance data. While Hookit is used mainly by traditional sports teams and organizations to measure digital media sponsorship valuation, a new Nielsen-backed data firm recently emerged to measure similar sponsorship ROI for brands within esports.