There were some pretty big sponsorship news stories during the past week or two and since everyone else seems to have a top ten list, I wanted to do one too. Plus, doing a top ten list pretty much guarantees at least some people will be interested. Personally, I always turn to the top ten lists in magazines first and click on any news stories that say “Top Ten”. Maybe this will be the beginning of a series…hmm…enjoy! more
While cruising through the status updates of my peeps on Facebook I saw the Cleveland Cavaliers had posted this offer: “Talk about a slam dunk! We want to share one of our best perks with you! Our friends at Quicken Loans give us a great discount on home loans as part of their exclusive benefit program, The Mortgage Insiders. But you can get it too! Just ask about adding the Mortgage Insiders Benefit Program to your workplace benefits.... Be part of the winning team by participating with the Cavs, Cleveland Clinic, UPS, Microsoft, Dell and others and become a Mortgage Insider today!”
Received a press release yesterday from Pheasants Forever, a nonprofit conservation and hunting-oriented organization, announcing that Miller High Life will again be the official beer of the group, extending a longtime relationship. MillerCoors will overlay the sponsorship with an on- and off-premise promotion that raises funds for PF. The Miller High Life Rooster Promotion allows adult consumers to purchase paper roosters for either $1 or $5, with “net funds raised” going to local PF chapters to fund wildlife habitat projects. more
Don’t be alarmed, at no point during this blog post will a floating ad featuring Ty Pennington jump out of this blog post and scream at you through a megaphone.
We all have our armchair quarterback moments, where we see something we would have done differently to enhance a campaign or partnership. And then we see some that nag us because they have potential and yet need a bit of an overhaul. Right partners, not-quite-right relationship.
Just a note: as we have so much merging and converging of ideas and relationship types in our industry today—I’m going to use “sponsorship” fairly broadly and cover corporate relationships like added-value advertising and cause marketing as well. more
I remember when I first started working for IEG I began learning all these “obvious” tips from my colleagues. I emphasize “obvious” because they were common sense things that it had NEVER occurred to me to do when I was on the other side, selling sponsorship for a property. One of those things was monitoring the local and national news outlets and trade/industry publications for sponsorship targets and trends. I was green, what can I say?
To that end, I always pass this tip along to my clients. Most of them are smarter than I was, and already doing this. But it’s not just a matter of monitoring these sources – it’s also knowing what to look for. So who have I had my eye on this week? Thank heaven, it’s 7-Eleven! Just this week 7-Eleven has made two announcements: more
In case you haven’t seen it, the Bob Woodruff Foundation (BWF) has launched ReMIND.org, an initiative to spur consumer action in support of U.S. troops. While the Foundation provides support to members of the military, veterans and military families, the ReMIND initiative turns to the public with an awareness and fundraising goal.
ReMIND has two big things going on right now:
CIT Group—one of the largest financiers of independent retailers and retailer franchisees—filed for bankruptcy over the weekend. Companies like CIT provide the short-term financing necessary for retailers to stock their shelves; CIT represents 70% of a market estimated at upwards of $60 billion. The bankruptcy had been expected, so retailers have been prepared, particularly with the all-important holiday season coming up.
Media reports indicate that the IndyCar Series will announce its first title sponsor in eight years with a Thursday announcement that Phillips-Van Heusen Corp.’s Izod brand has purchased naming rights.
Much of the current commentary around the deal involves speculation of how much Izod is paying. The Indianapolis Star quoted the series’ sales rep, Zac Brown of Just Marketing, as saying the “asking price” was $10 million a year to be allocated across IndyCar and its media partners.
Conventional wisdom says that no property is getting its asking price these days. And that $10 million starting point is down from where it was three years ago, when an exec for a company that had been pitched the series title at that time told me IndyCar was seeking $15 million a year for 10 years, not including TV ad buy commitments. more
If you read my posts often enough, you know I’m constantly waxing poetic about how important integrating the consumer into the sponsorship experience is. So it should be no surprise that upon hearing about Stephen Colbert’s, “Colbert Nation” top sponsorship of the U.S. Speed Skating team (if you haven’t already, check out my colleague Rob Campbell’s blog post here) and FanCar’s unique sponsorship opportunities around Sprint NASCAR cars; that I am ready to hand out two big, fat gold stars for fan integration. more
The topic of sponsorship research has been on my mind lately. Sponsorship research can help both properties and sponsors with their decision making. There are many applications for sponsorship research. It can be used to determine the fit between a property and a sponsor; it can be used by a sponsor to measure an audience’s response to its sponsorship and activation programs; it can be part of return on sponsorship or ROI exercise; a property can use information garnered from research to demonstrate to its sponsors some of the benefits of the partnership; and it can be used to track trends or changes related to the sponsorship. Some properties and sponsors have the luxury of hiring an outside research agency. However, a lot of properties and sponsors have never conducted any research, or the property or sponsor conducts its own research (which is preferable to not conducting any research).
I would encourage sponsors and properties that don’t do sponsorship research to consider it, but there should be a clear purpose to the research, and the findings should be actionable, otherwise the results will be disappointing. Although the findings won’t be as specific, as a first step, a property or sponsor could consider using syndicated third-party research such as Scarborough or MediaMark (MRI).