As nearly every property knows—or should know—added value plays a critical role in a partnership’s success.

In short, added value applies to benefits and services delivered by the property beyond assets included in a contract.

In edited excerpts below, marketing executives from Wells Fargo and Nestlé Waters give their take on added value—and what it should and should not include.

Tim Collins, senior vice president, experiential marketing, Wells Fargo & Co.
In an ideal world, an added value offering should be informed by the relationship the property has with the brand. Hopefully, the property knows what the brand is trying to do, and is thinking of ways to support the brand on an ongoing basis.

A few examples might include:

  • Going above and beyond at contract events (meet and greets, etc.)  A team might upgrade a player appearance from rookie talent to All-Star talent.
  • Additional customer hospitality. Recognizing that we had many key customers in for an event, one of our partners offered us additional hospitality to entertain those customers while they were in town.
  • Additional promotional assets in-line with brand strategy and marketing campaigns.
  • Assets from media companies and other like-minded cosponsors.  Good things can come when the property connects its partners with each other.
  • Inclusion in cause and community partnerships/events.
  • Pilots of new technologies (beacons, virtual reality, etc.)

The examples are endless, but should always be bounded by the brand’s strategy and objectives.

What Is Not Added Value
Just because the property offers an asset doesn’t make it added value. Sometimes properties position additional assets as added value, when, in fact, they have no connection to the brand’s objectives and strategy. Just because it’s offered doesn’t mean it’s of value.

With any partnership, certain things just don’t work out (weather cancellations, talent illness, etc.). Sometimes, properties position additional assets as added value, when it’s really a make-good for a contractual element they couldn’t fulfill. The wording matters, as it is reflective of the level of trust and partnership between the brand and the rightsholder.

But when done right, added value offerings build trust and strengthen the relationship between property and the brand by incrementally helping the brand achieve its objectives. It’s the “surprise and delight” of the sponsorship world.

Kevin Cleary, marketing manager, sponsorships and promotions, Nestlé Waters
A strong partnership is one in which the agreement does not need to be referred to as partners work together and understand each other’s vision. There is an open and ongoing dialogue to work together to build up each other’s brands.

Examples include the following:

Green assets. Green programming is important—it’s beyond a brand supporting recycling and more about sharing what companies are doing for a better tomorrow. There could be some great content that consumers would enjoy further knowledge about.

Sponsor summits. Summits are important to allow partners to meet one another and make connections within the greater partnership and work together when appropriate. The best summits allow connections to be made and information to be shared.

Ongoing sponsorship updates. Instead of waiting for a recap deck, offer up key learnings and other benefits throughout the duration of a partnership. Be sure to include data—data is more and more important and vital in recap reports.

Don’t wait to show value—it’s best to show ongoing information such as brand image and how often an image or sign is shared on an ESPN broadcast or in other traditional and digital media channels.