Posts Tagged ‘Sponsorship’

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Build It and They Will Come

Tuesday, December 27th, 2011

Another fabulous Fast Company article that looks at how talent will get paid.  One word:  sponsorships.  That’s right, those who have a following are collaborating with those who want to tap into new markets.

While this article talks about artists and musicians, just insert the word “expert” and you’ll see the similarities.  Look at the roles:  Silicon Valley builds the platform, Hollywood brings the star power and Madison Ave has the money.  It’s a three-way match made in heaven.  And the co-create theme highlights partnership, not the “hey, give me money because I’m good”.

Don’t let the “big” examples in the article scare you off.  Use the best practices here on a smaller scale, and you’re set to go.  How to apply this dynamic to our situation:  if we use technology to build a community of avid followers, others will join forces with us because of that community.  The key is not just size — it’s demographic.  If your community is small but influential, you can still attract Madison Avenue-type sponsors.

Perhaps this can be your New Year’s resolution:  I will build a community that others will pay to access.  Something to think about…

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Interesting Sponsorship Opportunity

Tuesday, November 1st, 2011

Think the bumpy recovery has decreased sponsorships?  Think again.  I still see deals coming fast and furious as the big dawgs fight for customers and market share.

Latest example:  home improvement retailers, such as Home Depot and Lowe’s, use regional marketing budgets to reach the Hispanic market.  Don’t write these folks off because they spend only 20% of their budget on associations and cause marketing.  The organizations above spent a total of almost $100M last year.  Hmmm…$20M.  That’s real money.

Idea:  come in with a campaign that targets their customers or ways to get involved with a current sports campaign.  There’s enough money in the sport’s budget for everyone.

Remember, Corporate America uses sponsorships to do three things:  launch new products, support retail promotions, and reach their best customers.  Help them do that, and you’ll get a fair hearing.

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How Sponsors Define Value

Thursday, June 23rd, 2011

Many experts who speak are looking for sponsors to pay their heft speaking fee.  And sponsors are still doing that but asking host organizations “how can you provide more value?” first.  Here are a couple of ideas inspired by veteran sports professionals in their sponsorship deals:

  • Community outreach.  Every sponsor wants more exposure than the event.  How about finding out who their target market is and participating in that?  For example, if your banking sponsor wants to reach out to business owners, why can’t you do an extra session for that audience?
  • Product placement.  TV shows and movies have taken this to a whole new level with more subtle references.  Can speakers do the same with examples and stories that feature the sponsor?  Let’s go one step further:  in the name of interactive learning, is there any way to demonstrate the sponsor’s product or service?  Use them as a case study perhaps?
  • Business-building opportunities.  These sponsors are partnering to expand their reach.  Does your community have value to them too?  How could you facilitate introductions between the sponsors and your business contacts?  A reception maybe?

Suggestions that go above and beyond might be refused by the host organization but your offer will not be forgotten.  Great way to position yourself as a partner rather than just a speaker for the convention.

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Big Change In Healthcare Sponsorships

Tuesday, May 17th, 2011

Everyone knows the healthcare industry is booming and their investments in sponsorships are no exception.  The biggest change, though, is in the messaging, as medical facilities move from promoting high-margin specialties to an overall health and wellness message.

Many experts don’t pursue these opportunities when they hear that 75% of the deals are going to sports teams.  You gotta look two steps past that:  experts can play a huge role in taking those campaigns to the ground level.  Example:  The Cleveland Clinic partners with the Cavaliers, the Browns and the Indians, but activates that exposure with their Let’s Move It! Campaign.  Any expert on exercise, nutrition, etc. can help.

My point:  look past the seven-figure deals and figure out how you can help implement.  I blogged last month about the emphasis on leveraging partnerships.  This is a great example.

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Rise of Sponsorship Spending

Thursday, April 14th, 2011

Time for a happy dance!  The sponsorship market is going strong in this economy.  According to industry giant IEG, 2011 spending is staying the same or increasing for 85% of buyers in their annual decision-makers survey.  This is significant movement from last year, when 31% said they would cut spending last year.

Here’s the most interesting (and critical) news for experts:  the rise in “activation” spending, with 44% saying they are increasing funding for activation.  This is a huge increase — 16 percentage points from 2010 — and a whopping 27% increase from 2009.  Translation:  buyers want more bang from their partnerships and are investing to turn those relationships into sales, web traffic, etc.

Think about this:  the biggest opportunity for experts isn’t necessarily getting sponsors for our book sales or speaking tours.  It’s helping sponsors turn the cause or event into value.  And what do sponsors do to leverage?  According to this study, public relations (76%) and internal communications (72%) are top choices.  Both are areas we can play in.

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Healthcare Reform Boosts Sponsorship

Thursday, March 10th, 2011

Healthcare reform is good or bad, depending on your politics or perspective.  One thing:  the key players — pharma, hospitals, health insurance companies — are beefing up their brand awareness efforts.  And they are using sponsorships to reach out directly to consumers.

Yes, consumers will make their choices in 2014.  But many organizations are starting now to build momentum.  Expect a wide range of opportunities, from more partnerships with associations to sports sponsorships.  If you have mass market appeal (or a book with a lot of buzz), check out this market segment.

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Sponsorship For Gen Y

Thursday, February 10th, 2011

Looks like Chevy is reaching out to Gen Y — rich ones, that is.  According to a recent interview between sponsorship.com and national promo manager Phil Caruso, the carmaker is revving up their focus to get more younger, affluent women in their cars and crossover vehicles.

Why do you care?  Because experts with a following in those groups can pitch sponsorships for their speaking tours and other activities.  Chevy is a great example of pinpointing where to expand the customer base and then reaching those folks with sponsorship.  Wanna bet they aren’t the only ones trying to reach affluent Gen Y’s?

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Cool Tool For Sponsorships

Thursday, September 9th, 2010

This is what happens when techies are unleashed:  the International Society of Automation (ISA) has created a personal dashboard for every one of their sponsors.  Their partners see all the benefits listed in one place, a template to show what their marketing efforts look like and — this is the best part — ideas to get more value from the relationship.

Response from the sponsors is positive.  I’m not surprised.  This is a great way to remind folks of the partnership’s value and to spur more activation.  I think this is one best practice we can all apply.  Specific dashboards are not publicly available but here’s a link to the ISA’s sponsorship splash page.

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IRS and Sponsorships

Thursday, July 15th, 2010

Just as the dust settles with health care reform and pharma regs, the IRS comes in with a heads up to associations:  your sponsorship dollars may be taxable as unrelated business income.  OK, the tax people didn’t say that directly but look at what they are doing at colleges and universities:  looking into corporate sponsorship relationships.  The IRS is also expanding the use of questionnaires to check out income sources of all non-profits.  Industry insiders are alarmed enough about these developments to warn associations now that they could be next.

Folks, this could be a big deal.  More associations are using sponsors to pay their speakers.  What happens to that money if it comes with a huge hassle factor?

Prediction:  associations will adjust how much they promote sponsors’ products and services.  We’re fine for now, but be ready to change your speech to allay their fears.

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Are You Committed or Interested?

Tuesday, June 29th, 2010

I get a lot of calls from folks who genuinely do good work.  They put out a quality product and their clients love them.  The problem:  they play too small.  It’s easier to dabble with that website, talk to folks who like them and don’t have the power to buy than it is to really go after that next level.

What’s holding them back?  Most folks are interested enough to buy those “magic bullet” systems but not committed enough to show up and implement what they’ve learned.  Why?  Because in order to get to the next level, you have to put skin in the game.

Here’s one way to tell how committed you are:  do you invest to the point of inconvenience?  When you sign up for that teleclass series, do you plan to show up or blow it off at the first opportunity because, after all, the session is recorded right?  When you decide to update that website (or your brand), do you choose vendors by price point or by what they can do for you?

Those who best benefit from the recovering economy will be those who invested in their business during the down times.  They bet on themselves.  So ask yourself:  how uncomfortable am I willing to be in order to get what I say I want?

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