Posts Tagged ‘Sponsorship’

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Car Sponsorships

Friday, March 13th, 2009

When you sit down with an athlete and ask them for a dream list of sponsors (effective way to learn about the products they believe in and admire) one of the most popular answers is a car sponsorship. Sounds reasonable, but is it worth it? Well if the car company is a manufacturer as opposed to a car yard, is a combination of cash and product and the partnership adds value to your athlete’s overall brand positioning then go for it. Otherwise tread carefully.

Firstly, if the car brand doesn’t align with your athlete’s brand then don’t do it, that’s a no brainer. If the car company is a car yard, they won’t have the budget to do quality advertising around the partnership, but that doesn’t mean they won’t try, and your talent will look ordinary. And lastly, if there is no cash incentive then you’re selling yourself short.

Unfortunately most car sponsorships in Australia are product only. What a great deal for the car company! While other sponsors are paying market value to be associated with your talent, the car company gets all the same rights for the price of a car that really doesn’t cost them much. If I’m an athlete do I really want to be doing X number of appearances and photo shoots for the equivalent of $35,000 (or less) when my market value is six figures?? I’d rather give my time and energy to sponsors who are paying me market value and then buy my own car without the headaches of additional commitments.

It’s also important for athlete’s to remember that managers don’t receive any benefit from product only deals, yet they have to service the relationship. This takes up valuable time and resources that could be better spent on more lucrative deals. Don’t get a car deal for the sake of getting a car, make sure it makes sense.

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Posted in Sponsorship, Strategy | 2 Comments »

Let’s Face It

Wednesday, March 11th, 2009

Technology these days means less face to face communication. We all know the benefits this provides but are your business relationships stronger because of it?

Gen Y doesn’t have an issue with this form of communication, in fact many don’t feel the need to meet face to face to get things done in the business world, and they are right. However, this type of communication is only ok if both you and your business client are from the same generation.

So what if your client is a couple of generations up the ladder? What if the CEO, marketing or sponsorship manager you regularly deal with is a baby boomer, does that change the communication game? You bet it does. Sure you can still have a good working relationship with this older business professional but if the majority of your communication is via email and the odd phone call then the value THEY place on the relationship won’t be as great.

If you can make a habit now of meeting more often with your business contacts then your business success, not to mention your social skills, will dramatically improve. And with the advance of video conferencing technology, you’re going to need those real time communication skills over the coming years anyway. It’s time to face the music, or in this case those relationships that matter most to your business.

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Show Initiative

Monday, March 2nd, 2009

RecessionThe end of the financial year is still some months away but companies are already bracing themselves for tough announcements to shareholders. As the full impact of the economic downturn is realised, companies are beginning to make big decisions regarding their 2009/10 strategy for marketing, advertising and sponsorship spend. The decision to renew a sponsorship will most likely be made over the coming months even if that contract doesn’t expire until the end of the year. So too will decisions regarding new sponsorships. So whether you’re chasing sponsorship or hoping to renew existing deals, you need to get on the front foot now. Sponsorship guru Kim Skildum-Reid has a great white paper on strategies for both sponsorship seekers and sponsors in a scary economy.

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Sweat the Small Stuff, It Matters

Thursday, February 5th, 2009

Many athletes sign a sponsorship deal and then sit back and wait for the sponsor to leverage the relationship. The contract says you must do XYZ, so naturally you do XYZ. This might include shooting a TV commercial, attending a signing session with fans or schmoozing with clients. The athlete is fulfilling their duty to the sponsor so everyone’s happy right? Well not always. As in life, to be successful you must go above and beyond what is expected of you. Sponsorship is no different. Forget the big photoshoot, the TVC, and the lavish corporate hospitality, those things are all expected of an athlete, after all it’s in the contract. What is not in the contract is the small stuff that makes a huge difference. I’m talking about the athlete who takes the time to find out the CEO’s birthday and then sends him/her a personal card on the day. The athlete who turns up to the head office with a hamper for the staff, the athlete who sends their sponsor tickets to watch them compete, the athlete who sends their sponsor a signed memorabilia piece, the athlete who stays a bit longer at an appearance, the athlete who asks questions / takes an interest in the lives of those who sponsor them. It’s simple stuff but it never happens, so when it does, sponsors fall off their chair. They remember and care about these little things more than the athlete can ever imagine. I’ve seen cases (they are rare) when an athlete retires and fades from the public eye, their brand no longer warrants the dollars they are paid, yet the sponsor hangs on. I think you know why. Sweat the small stuff.

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