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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So what have you changed about the way you pitch sponsors since the financial fallout?
Something IEG tried recently—in pitching our sponsorship consulting services to a prospective corporate client—was dumping PowerPoint. Having made the final cut from an RFP, four of us were practicing our spiels when senior vice president of business development Tim Tlusty said the PowerPoint was not adding anything, and in fact diverted the focus from the speaker to the slide or the slide handout.
After years of presenting with the aid of PowerPoint, going naked was a jump. But we tried it and what a home run. The sponsor executives were downright giddy when they heard we did not have a PowerPoint presentation. Even better, they were totally engaged throughout the allotted 90 minutes, and in fact invited us to go longer, which we happily did.
Filed under: IEG, selling, how to get sponsorship
Are Your Sponsors Checking Out?
It’s a week for analogies (what week isn’t, I say) and I’ve got another one for you. We all spend so much time thinking about, talking about, and practicing consultative servicing, solutions-based selling, ethical selling, and so on. All good, right things. But how tangible are they when you’re racking your brain to get the job done?
This is why I like analogies, especially on Friday afternoons. We live in the world of best practices ready for the taking, and yet sometimes we just need to think about things on a practical level to make progress.
So here’s today’s analogy: think of your sponsorship program like you’re running a hotel. You want to invite sponsors in, make them very comfortable during their stay, and have them want to stay with you forever.
Filed under: how to get sponsorship, selling, servicing, activation
Health Care Reform May Lead To More Spending From Insurers
With everyone chatting (if not yelling) about the pros and cons of health care reform, I thought I’d take a minute to address one potential positive for the sponsorship industry: more spending by health insurers.
Like other players, Blue Cross and Blue Shield of Florida is developing marketing strategies that address the potential outcome of health care reform. The company believes any hint of mandated coverage could prompt new sponsorship spending.
Filed under: how to get sponsorship, selling, sports, events
In Times of Economic Recession, Only Way To “Party On!” Is With Authenticity
Anyone who blogs on a regular basis knows that some days you need a little blog-spiration (yep, I’m coining that one). So, I took to my social networks to find out what the masses (e.g., my posse of LinkedIn, Twitter and facebook peeps) wanted to hear me weigh in on. And the results – drum roll please...
Filed under: digital media, entertainment, government/municipal, guidelines, how to get sponsorship, branded entertainment
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
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 Resurgence of the Auto Category
While the auto category has taken a major hit this year, recent activity seems to indicate the industry may be coming back to life.
One early indicator: The return of ride-and-drive programs.
For example, Lexus last weekend hosted test drive events at Old Fisherman’s Wharf and other locations in Monterey, Calif.
“We’re seeing a resurgence in the auto category after pretty much nothing in the first two quarters,” said Beth Schnitzer, executive vice president for the California Partnership Marketing Group, which executed the program.
Other recent initiatives include:
Filed under: automotive, branded entertainment, destination/tourism, entertainment, events, how to get sponsorship, 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
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