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.
Back to Basics, the Next Big Thing
We all focus a lot on the next big thing, the newest, the most unique, the thing with the most buzz. Sometimes the next big thing doesn’t pan out or live up to the hype, or it gets lost with the introduction of something bigger and better. I have to admit that I am always on the look out for what is new and hot on both a personal and professional level. However, the danger of keeping up with the next big thing is that we can lose focus on the basics.
As a Valuation Analyst, I am privy to thousands of sponsorships. I’ve valued sponsorships at all levels and I guess you could say I’ve seen the good, the bad and the ugly of sponsorship. So what do I mean by “the basics”? By basics, I mean “standard practices” that are part of a healthy sponsor partnership, such as comprehensive fulfillment reports or sponsors that leverage their partnership. The basics aren’t glamorous and I doubt a sponsor decides to partner with a property because they have a great PR report, but the combination of the basics can be really powerful.
Filed under: selling, servicing, valuation, activation
What Should Free Stuff Be Worth?
A marketer calls up the rep from a concert series he’s sponsoring and says he has a great opportunity for her. His company is launching a new product, and he’d like to distribute a FREE sample to all attendees for the next concert. However, this “generous” sponsor doesn’t have sampling rights built into his contract. What should the rep do?
A marketer calls up the rep from a nonprofit her company both sponsors and donates to and says she’d like to hold a one-day volunteer event for 200 employees. The nonprofit usually accepts only volunteers who make a six-month commitment to volunteering, due to the training involved. The nonprofit rep wants to provide a quality volunteer experience—including breakfast, lunch and a volunteer T-shirt—but isn’t sure she wants to deploy the dollars and additional staff if most of those volunteers won’t be returning. What should the rep do?
I have some thoughts, but would be interested to hear from you first.
Filed under: negotiating, selling, servicing, valuation, in-kind