Impossible is nothing even in times of COVID-19. Effective strategy lessons from the Real Madrid F.C

Abstract

ABSTRACT The Real Madrid F.C. was one of the few major European football teams that avoided financial losses during the COVID-19 pandemic. Furthermore, the team improved its performance on social media and in terms of web traffic achieving the number one spot for both indicators. This exploratory study sets out to shed light on the strategies used by the club. The methodology uses a content analysis of professional and academic journals, official websites, surveys and managerial reports as well as in-depth interviews with academics, team managers, and fans. Findings reveal that nurturing existing relationships with sponsors and building new sponsorship agreements were key factors to survive in times of crisis. Our research also illustrates the importance of enabling supporters to build consumer-brand relationships and be active in the creation of their own brand experience. Lastly, the study shows that CSR initiatives strengthened the relationship between the club and its followers.