ING delighted as F1 raises its profile

27/11/2007
NEWS STORY

Renault F1 team title sponsor ING today announced the results of its 2007 F1 sponsorship programme. The partnership with the Renault team, together with its on-track branding activity, has apparently increased ING's global brand awareness, which in turn has led to an "increased willingness amongst existing and potential customers to increase their business with ING".

Michel Tilmant, Chairman of the Executive Board of ING Group said: "The affiliation between ING and Formula One 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."

As announced at the beginning of the 2007 season, ING's main objective for its sponsorship programme was to enhance its brand awareness globally and bring ING's image more in line with its reach of 75 million customers in over 50 countries.

Research International, an independent research company, surveyed 16,000 people in 32 key markets for ING globally at the start of the F1 season, and again after the Brazilian GP on Oct 21. Respondents were a mixture of male/female F1 fans and non-F1 fans, both with and without ING products. They were surveyed across five key criteria, including their awareness & perception of ING, as well as their willingness to do business with the firm as a result of the F1 sponsorship.

Results from the 32 countries surveyed (16,000 respondents) show, as a result of the F1 sponsorship, ING achieved:

7% increase in perception of being a leading and global financial services firm

25 % increase in positive perception of ING

29% increase in willingness to do business with ING within the next 12 months

100% increase in awareness of ING as being an F1 sponsor (across the 32 markets 1 in every 4 people was aware ING was an F1 sponsor)

ING also benefited from strong TV visibility across the 17 GPs, as a result of both its title sponsorship of the Renault team, and its on-track branding presence at 14 of the 17 races, including the title sponsorship of the Australian and Belgian GPs.

Independent research by IFM has shown that ING was the second most visible F1 sponsor (in seconds the logo was on-screen during the official race TV coverage) with 14,264 seconds on screen, across the 17 GPs.

Isabelle M. Conner, Director of ING's F1 sponsorship programme said: "2007 was a banner year for ING in terms of raising the profile of the Group worldwide. In 2008 our goal is to fully activate the F1 sponsorship in all ING markets, in order to make use best use of our increased awareness, and drive business into the Group by continuing to promote ING's products and services."

Next year will see ING continue its global marketing campaign and activation strategy to drive the brand presence across its strategic and emerging markets. ING also aims to build business revenues via the F1 sponsorship, by increasing promotional and marketing products tied to F1 across the firm's global banking, asset management and insurance product base.