It is certainly an interesting target market to approach but if you think about it, triathletes are generally successful type A personalities that have above average income with a substantial number of connections. If I had to guess, I would say they are not purposefully targeting these markets to drive in consumer deposits/loans but rather to develop relationships with commercial customers to identify larger opportunities with businesses both in the triathlon industry and outside of it. I hope it plays out well for them because they are certainly helping out the sport we love by providing HJ, Eric/Paula, and I’m sure many others with the support to help them grow as well as growing the sport itself.
Nobody really cars if she rides a cervelo or an Argon at the end of the day.
If she is sponsored by Cervelo or Aragon then I don’t really care. But if she freely chooses a bike with no direct financial interest tied to it then I’m definitely mildly interested as a consumer - assuming she made a well informed decision. It certainly says something about the technical merits of that particular bike. It’s also a great endorsement for that company except that the more typical triathlete may not know what it is without the logos.
Are you saying that you pay a transaction fee to get cash from an ATM?
You use cash? Might as well be bartering goats and beaver pelts.
I’m not sure why more athletes don’t travel down this type of sponsorship road. Especially for things like clothing and helmets which are great advertising spaces. It’s a lot of work, but could potentially be more lucrative.
Everything is COMPLETELY upside down right now in the bike business. Most bike companies just hade record-shattering best year ever sales for the last two years, and they barely lifted a finger, or spent an extra marketing dollar to earn that new business and huge revenue growth. In fact, the run on bikes and the supply chain issues, are creating a situation where, they don’t want to sell more bikes right now, or at least create even more insane demand for their product. In short - there is really no need right now for big sponsorship and marketing spends, and I can see some of the cutting back on this from recent historical levels!
So what I see going on - reasonably well known athletes, cut from known bike brand sponsorship deals, is really not that surprising at all. It’s happening over in running as well. All the top level shoe brands are culling out all but the cream of the crop - the absolute A-Listers on their sponsorship rosters. There are well known runners, right now, with NO Shoe Sponsor!
As for THIS particular situation with HJ - a guess, but they went around to various bike brands and there was probably a low level of enthusiasm or interest due to the above, they were able to find more $$ in a non-endemic sponsor, and then buy whatever bike they want to! If you can, and it works, it’s a smart move!
Are you saying that you pay a transaction fee to get cash from an ATM?
You use cash? Might as well be bartering goats and beaver pelts.
There are many banks that have no transaction fee for getting cash out of an ATM.
Do you pay a fee?
I’d be surprised if this bank sponsorship is about marketing. It’s more likely akin to the American Interbanc sponsorships from a few years back. The owner and his wife where triathletes and just wanted to contribute. I’m guessing one of the bank executives is a triathlete or is married to one.
i just finished interviewing ben atkins - waterfall bank guy who’s making these decisions. he is, basically, a patron. just, these athlete’s aren’t painters or sculptors or composers, they’re triathletes. yes, the bike was chosen by heather. bought. painted. so, yeah, if you have any choice and you choose a cervelo that is the most authentic “sponsorship” going. i hope to have that interview up on the site by tomorrow.
No it doesn’t, but I can’t honestly tell you the last time I took cash out of an ATM…Maybe at a Casino?
The bigger issue is how you go about getting cash back into your bank, if you’re banking from afar…IMO
Back on topic…
Brilliant move here by HJ, in all of my experience, cash was “easier” to nail down than bike sponsorship.
You are missing my point. It’s been years since I’ve used an ATM or taken cash out of a bank. Cash is antiquated.
Are you saying that you pay a transaction fee to get cash from an ATM?
You use cash? Might as well be bartering goats and beaver pelts.
There are many banks that have no transaction fee for getting cash out of an ATM.
Do you pay a fee?
I’m not sure why more athletes don’t travel down this type of sponsorship road. Especially for things like clothing and helmets which are great advertising spaces. It’s a lot of work, but could potentially be more lucrative.
Everything is COMPLETELY upside down right now in the bike business. Most bike companies just hade record-shattering best year ever sales for the last two years, and they barely lifted a finger, or spent an extra marketing dollar to earn that new business and huge revenue growth. In fact, the run on bikes and the supply chain issues, are creating a situation where, they don’t want to sell more bikes right now, or at least create even more insane demand for their product. In short - there is really no need right now for big sponsorship and marketing spends, and I can see some of the cutting back on this from recent historical levels!
So what I see going on - reasonably well known athletes, cut from known bike brand sponsorship deals, is really not that surprising at all. It’s happening over in running as well. All the top level shoe brands are culling out all but the cream of the crop - the absolute A-Listers on their sponsorship rosters. There are well known runners, right now, with NO Shoe Sponsor!
As for THIS particular situation with HJ - a guess, but they went around to various bike brands and there was probably a low level of enthusiasm or interest due to the above, they were able to find more $$ in a non-endemic sponsor, and then buy whatever bike they want to! If you can, and it works, it’s a smart move!
Yeah, I was warning athletes and clubs early last year that sponsorships would be harder to come by in 2022. No reason to market product either you don’t have, or sell through as soon as you do have stock. Even services provided to sponsored athletes have been tightened despite record profits. Athletes are the ones paying for fit and aero testing now if they want it.
Nobody really cars if she rides a cervelo or an Argon at the end of the day.
If she is sponsored by Cervelo or Aragon then I don’t really care. But if she freely chooses a bike with no direct financial interest tied to it then I’m definitely mildly interested as a consumer - assuming she made a well informed decision. It certainly says something about the technical merits of that particular bike. It’s also a great endorsement for that company except that the more typical triathlete may not know what it is without the logos.
Yes, I pay more attention to decisions like this, but I don’t think anyone needed a nod from HJ to understand the merits of a P5.
I’d be surprised if this bank sponsorship is about marketing. It’s more likely akin to the American Interbanc sponsorships from a few years back. The owner and his wife where triathletes and just wanted to contribute. I’m guessing one of the bank executives is a triathlete or is married to one.
i just finished interviewing ben atkins - waterfall bank guy who’s making these decisions. he is, basically, a patron. just, these athlete’s aren’t painters or sculptors or composers, they’re triathletes. yes, the bike was chosen by heather. bought. painted. so, yeah, if you have any choice and you choose a cervelo that is the most authentic “sponsorship” going. i hope to have that interview up on the site by tomorrow.
And I genuinely think that’s great. There have more than a few of those folks over time, and I appreciate they exist. In fact, I once brought a well known Hollywood producer into the sport to do just that. Which is why I’m always cautious with such funding. Sooner or later that patron will become bored and move along to something else with their money in tow (i.e. American Interbanc). It’s just human nature. This is why, in part, I have trouble buying into the PTO. Ride the wave as it builds and comes to shore, sure, but eventually it breaks. They all do.
Yes, I pay more attention to decisions like this, but I don’t think anyone needed a nod from HJ to understand the merits of a P5.
True. That’s what’s unfortunate from Cervelo’s perspective. The people who this would most influence as the ones that are least likely to know what the bike is just from the shape. Those of us who know already know the merits.
I’m surely not the only one who just sees a rude word every time I look at the Waterfall Bank kit?
That’s funny, every time I see Swiss Stop Hadron I have to take a double look
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i just finished interviewing ben atkins - waterfall bank guy who’s making these decisions. he is, basically, a patron. just, these athlete’s aren’t painters or sculptors or composers, they’re triathletes. yes, the bike was chosen by heather. bought. painted. so, yeah, if you have any choice and you choose a cervelo that is the most authentic “sponsorship” going. i hope to have that interview up on the site by tomorrow.
In general yes. In this case, not as much. Mostly this endorsement tells me that Cervelo knows how to size a 700c bike for tiny athletes, which is an issue that doesn’t apply to most of us. If she wants a proper fit, she doesn’t have many options.
But yes, we all knew it’s a fast bike
I’m not sure why more athletes don’t travel down this type of sponsorship road. Especially for things like clothing and helmets which are great advertising spaces. It’s a lot of work, but could potentially be more lucrative.
Everything is COMPLETELY upside down right now in the bike business. Most bike companies just hade record-shattering best year ever sales for the last two years, and they barely lifted a finger, or spent an extra marketing dollar to earn that new business and huge revenue growth. In fact, the run on bikes and the supply chain issues, are creating a situation where, they don’t want to sell more bikes right now, or at least create even more insane demand for their product. In short - there is really no need right now for big sponsorship and marketing spends, and I can see some of the cutting back on this from recent historical levels!
interesting, thanks Steve…
glad HJ could get this sponsorship, was puzzled that there wasn’t a bike company willing…
I had an idea to buy my first new car ever, a Ford Maverick hybrid, pickup truck that gets 40mpg. But Ford has stopped selling them… same with the new Bronco, no longer taking orders until sometime later this year. A great time to be selling cars/bikes…