Latest Thinking from IEG
IEG’s sponsorship experts provide unique perspective on the latest industry developments, news and trends. These posts will make you think, challenge conventional wisdom, give you new ideas, and spark discussion.
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3-D TVs May Prompt New Sponsorship Spending
While many properties have written off the consumer electronics category due to the economy and subsequent pullback in discretionary consumer spending, JVC, LG and other companies may soon start seeking new deals to promote their latest-and-greatest products: 3-D TVs.
At least one company has signed its first deal. Panasonic Consumer Electronics recently announced a tie-in with James Cameron’s new 3-D science fiction film Avatar on behalf of its 3-D-ready plasma screen TV and 3-D-enabled Blu-ray Disc player, both of which it plans to release next year.
Panasonic will activate the tie by hosting Avatar viewing demonstrations in specially-designed trailers in the U.S. and Europe. Sources say the company plans to leverage Panasonic System Solutions Co.’s multi-million dollar partnership with AEG to host screenings at Southern California’s LA Live entertainment complex.
Filed under: entertainment, how to get sponsorship, motorsports, NASCAR, non-traditional categories, pro sports, selling, sports, activation
A New Potential Sponsor For Outdoor Events
This post won’t be tagged under “deep insights,” but just an observation about a noteworthy sponsorship that could be replicated by other properties.
This coming weekend’s Ford Ironman Louisville event features sponsorship from the city-run Louisville Water Co. Given its role as the local water utility, LWC has come up with a unique way to supply the hundreds of gallons of water needed by the triathletes that eliminates the need for thousands of eco-unfriendly plastic bottles. The company will tap into its existing water lines and one mobile water trunk and provide 100-plus volunteers at nine stations with hoses to fill 125,000 cups of water.
LWC plans to use this model for other local events to which it currently supplies bottled tap water.
For properties that have not had success securing an official water sponsor, or for those seeking a sustainable alternative to bottled water, tapping into your local water utility may be a good way to go.
Filed under: events, festivals, government/municipal, local, marathon, selling, sports, beverage
Be Bold: Say What You Mean
Last week a colleague (shout out to my fellow IEG’er, Diane Knoepke), shared an article with all of us bloggers here at IEG that discussed what keeps so many professionals back from producing great content. In this particular article the author explained how too many bloggers are worried about sounding “qualified” and “respectful” and thus, end up hiding their true voice and producing very polite content that fails to really land or compel anyone to do much of anything (check it here).
As I said, in this article the topic was blogging, but this can be said for producing great content, period. That content could be a sponsorship deck, an ad, a web platform, an app, an activation concept, a fulfillment report, etc. How many of us are using this polite, “meet the parents,” “inside,” “classroom,” “ask for a favor,” voice when producing content and interacting with clients? I dare venture most of us are.
Filed under: selling, how to get sponsorship
Sponsors Can Park It Right There
A reporter contacted us last week for comments on the California State Parks' decision to work with corporate sponsors to keep open as many as 100 parks threatened with closing due to budget cuts. For more information on the program, click here.
It can be tricky to attract and recognize sponsors appropriately in any venue, and green spaces like parks are especially tough to do well. Tough, but by no means impossible. The CA State Parks are not selling naming rights to their green spaces, but will recognize sponsors with “tasteful” signage crediting them with helping to keep the park open. (Source: The Los Angeles Times.) Provided that signage doesn't block any vistas, it should be seen as appropriate acknowledgment of the sponsor's contribution, much like a philanthropic gift would be recognized. That sort of strategic philanthropy may be just the thing for sponsors seeking a low-profile community connection in these sensitive times.
Filed under: destination/tourism, government/municipal, how to get sponsorship, packaging, selling, sponsorship ROI, strategic philanthropy, activation
The Cure for the Common Loyalty Program
The Wise Marketer published an article yesterday summarizing findings of a study, conducted by customer loyalty agency Direct Antidote, on how well loyalty programs (e.g., frequent flier miles, points cards, and frequent shopper clubs) are resonating with U.S. consumers. We have come a heck of a long way since the sandwich shop punch card, yet the data shows companies are still not doing enough, as “only 32% of US consumers rated reward programme communications at 8 or higher (on a scale of 1 to 10) in terms of relevance to their personal needs.”
The article and study suggest three solutions:
Filed under: destination/tourism, evaluation, how to get sponsorship, packaging, selling, sponsorship ROI, activation
Marketing Alliances: Not Just For Small Properties Anymore
IEG has written about—and recommended to certain consulting clients—the idea of properties teaming up to create a better offer for sponsors, whether that be a larger package of rights and benefits, an expanded—or more diverse—audience, broader geographic reach, etc.
Typically, this has been advised for smaller properties, many of whom wouldn’t have robust enough benefits or audience numbers to attract significant sponsor interest on their own. But with larger properties facing unforeseen revenue challenges, perhaps some of them should give the two-properties-are-better-then-one idea a try.
Filed under: pro sports, selling, sports, packaging
Soliciting Sponsor Interest (Or How To Score A Date)
Recently I was working with a client – who puts on a great event – that was grappling with hitting on the right formula to get their foot in the door and compel prospective sponsors to take an initial meeting with them. I started going down the path of providing methodological advice when it dawned on me what we’re really talking about here is securing the first date – and with as many years in the field and gal pals as I have, this is something I can definitely counsel on.
Let’s throw the propriety and steps out the window: a great first date is one where you talk all the time the other person seems fabulously attracted, attentive and interested in you and, if they know a little bit about what you’re into that sure is icing on the cake (hello any gentleman who can talk Buckeye sports and indie rock). It’s no different with the property – prospect relationship. As the suitor, the property has an obligation to make the prospect feel like the only one in the room (no tipping them off that you’re courting their arch nemesis at the same time).
Creating this mood requires two key things (and no I’m not talking about flowers and a bottle of Dom):
Filed under: selling, how to get sponsorship
Four Reasons Your Sponsorships Aren't Selling
The economy. You have a built-in explanation for any drop in performance. So put that net of excuses to good use—go deliver a death-defying high-wire act. You won't die, and you just might be the star.
Self-orientation. I'm an only child. And I married an only child. I know all about self-orientation. (See? I’ve used “I” way too many times in this paragraph already.) The good news is that being self-oriented is not the same thing as being self-absorbed or self-centered. The bad news is it's a distinction without a difference in sales. Whether it's trying to sell a program just because you need to fund it, or telling prospects information about your property that they don't need to know to buy the deal, it's not doing you any favors. Don't be an only child at the sales table; be a Gosselin or a Duggar. Those kids know it's not about one of them, the payout is in the assemblage.
Filed under: IEG, IEG conference, selling, how to get sponsorship
A Rant on Return Phone Calls
OK, I admit it. This is more of a rant than anything substantial, but here’s something that really grates me: people that don’t return phone calls.
I mean, come on. Let me know you don’t want to talk about a story I’m working. That’s fine, but do me the courtesy of letting me know. Pick up the phone and tell me. Don’t keep me waiting and waiting for your call—I’m going to waste your time and mine by making follow-up calls and emails.
Some PR people are the worst. It’s their job to return calls! That’s public relations 101. Again, do me the courtesy of letting me know you don’t want to talk, or, worse yet, “participate in the story.” Don’t waste my time, and I won’t waste yours.
Filed under: how to get sponsorship, pro sports, selling, entertainment
Signs of Life: Emerging Sponsorship Categories Continue To Grow
Although IEG’s responsibility to identify categories primed to increase sponsorship budgets has been a challenging one this past year, we have scoped out new activity and are heartened by reports of new deals that support our conclusions.
For example, we reported in the spring that prepaid wireless services were good candidates for a wider variety of properties than they previously had been involved with. Now we hear from Peter Hansen of the New Jersey Performing Arts Center that he has concluded a deal for Boost Mobile to sponsor the Newark venue’s Sounds of the City summer series of free Thursday evening outdoor performances. Boost Mobile was attracted to the series’ demographics—core age group of 25-to-32-year-olds, 75 percent African-American, 15 percent Latino—and the opportunity for face-to-face interaction with nearly 3,000 attendees at each performance. The provider plans to activate through geo-texting and social media applications; NJPAC also could provide artist content for Boost Mobile to offer through its phones and Web site.
Filed under: destination/tourism, government/municipal, non-traditional categories, selling, telecommunications, arts