I had the pleasure of participating in a panel discussion at Northwestern University’s Kellogg School of Management this weekend. The occasion was the school’s inaugural sports business conference.
“The Business of Sports Sponsorships” panel—which featured Bank of America sponsorship chief Ray Bednar, Cleveland Indians SVP of sales and marketing Vic Gregovits and IMG College SVP Lawton Logan in addition to me—covered a lot of ground in our 75 minutes. more
This past week I attended a National Sports Marketing Networking (NSMN) event on The Evolution and Role of ROI in Sports .
Set up as an open forum with the audience and six panelists, there was a lot of great discussion and insight on what sponsors are looking for in ROI and how properties can provide it. Outlined below are a few of the key takeaways I left the event with: more
(Obviously sung to the Twelve Days of Christmas)
On the first day of sponsorship, my partner requested of me:
An activation strategy.
On the second day of sponsorship, my partner requested of me:
Two extra booths,
And an activation strategy. more
Is a new-year’s-resolution post a tad predictable? Yep, and I’m embracing it, as you should embrace the idea of embedding predictability into your world in 2010.
Put measurement (and results-driven action) at the top of your 2010 To (Really) Do List and you will have a more prosperous new year and a more bankable future. more
Festivals, Hispanic events and other types of local properties may want to put T-Mobile on their prospect list for ’10.
T-Mobile this year saw success from a five-month guerilla marketing campaign in which the company sponsored more than 25 events ranging from local festivals to state and county fairs.
Case in point: T-Mobile conducted more than 26,000 “Mobile Makeovers” and activated more than 5,000 new accounts at the events.
If you have ever been nervous about giving a speech or presentation, you’ve probably heard that you should picture the audience members in their underwear. If you’ve ever tried it, chances are you know how bad that advice is.
In that spirit, play this 12-second video for some bad advice on how to get past the gatekeeper in your next sales effort. more
I read things every day that I wish I’d written. Usually I keep that information to myself, but today I feel compelled to share such an article with you.
We know that one of the keys to success in any organization’s sponsorship program—whether selling or buying—is to get all parties aligned and working toward the same goals. Lead by gaining commitment, not by command or consensus. Making these ideas tangible is not an easy thing, and this article does a better job than others I’ve seen. While it’s not overtly about sponsorship, it doesn’t matter—the ideas and tools ring very true. Instead of “supply chain,” think of “sales pipeline” or “evaluation process” and so on.
Is Your Team Aligned?
By Gaurav Gupta, Lead Consultant, Stroud Consulting
From IndustryWeek, Oct. 23, 2009 more
Conventional sponsorship wisdom says that one of the best things a property can do to sell/renew deals in a disastrous economic climate is to show the prospect/sponsor that the relationship can result directly in product sales. There is no better ROI measurement or justification for a sponsorship expenditure than proving the connection between the partnership and revenue for the sponsor that goes to its bottom line, so the thinking goes. Seems to makes perfect sense.
There may be a flaw in this logic, however. This thought was spurred by this summer’s news DeWalt tools would not renew its 10-year-old sponsorship of Roush Fenway Racing’s No. 17 NASCAR Sprint Cup Series entry driven by Matt Kenseth. This news called to mind an IEG Sponsorship Report story of a few years ago, in which DeWalt’s then event marketing manager told us the company generated enough profit (not just revenue) from the sponsorship—through securing new trade partners and generating incremental sales at existing accounts—to recoup its annual rights fee, which we estimated then to be about $14 million. more
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: more
I was in my early 20s when I first sat in on a financial seminar given by a company’s 401k provider. I remember being very relieved that I had 40+ years to work to build up the amazing retirement I was sure to have–I have to admit I was almost gloating as I looked around the room at some of the folks who were my parents’ age. I wondered if they had been as smart as I was going to be.
But then as I started to really look at the different investment strategies they spoke of (conservative, moderate, aggressive), I realized what made sense to me intellectually (be aggressive, be-e aggressive!) was in direct conflict with what I felt like on an emotional level (savings bonds? hide it in the mattress?!). Thankfully after talking to my parents—trust me, I wasn’t gloating anymore—I found the right balance for me. more