What are some of the latest trends and innovations in sponsorship sales?

In the dynamic landscape of sponsorship sales, personalized experiences and data-driven insights are gaining prominence. Innovations include leveraging augmented reality for immersive brand activations and harnessing AI to analyze fan behavior for targeted sponsorships. Virtual events and hybrid experiences have become integral, offering global reach. Collaborations with influencers and esports partnerships are also on the rise. Moreover, sustainability-focused initiatives aligning with corporate values are gaining traction, providing sponsors with socially responsible branding opportunities. Successful sponsorship sales today integrate creativity, technology, and a deep understanding of evolving consumer preferences.

Surveys are a great way to get feedback from customers. They can be conducted face-to-face, online, or over the phone. It is ideal that surveys consist of open-ended questions. Do not ask: - "Can you specify the sponsors of the project?" - "Are you more likely to buy from one of our sponsors?" - "Are you more likely to buy from a company that sponsors the sport?" - "Did our sponsorship of X positively affect your purchasing decision?" People may be more likely to say "yes" to these questions, even if they are not actually more likely to buy from a sponsor. This data alone does not make any sense. In fact, it's not even data. Data-driven insights are valuable, but to get good data, it is important to pay attention to the details.

While the use of data and analytics in sponsorship sales offers valuable insights and benefits, it is essential for marketing directors to recognise that data should complement rather than replace human judgment and creativity in the sponsorship decision-making process. Data-driven insights provide valuable guidance however they should be viewed as a tool. It is crucial for brands to strike a balance between data-driven insights and the intangible aspects of sponsorship, such as brand fit, emotional resonance, and creative storytelling. While data can help identify properties, platforms, and activations that align with target markets, it may not capture the full spectrum of intangible factors that contribute to a successful sponsorship.

First Party Data is the most valuable tool you have as an Organization, League or Property. In terms of partnerships, utilizing your first party data to guide your brand partners in reaching your Fanbase. You can not only tell the story of who your Fanbase is to your partner, you can also retarget co-branded digital ads using your first party data.

Utilizing data analytics to understand audience behaviors and preferences is becoming increasingly important. By leveraging data, sponsors can tailor their campaigns to reach the right demographics, optimize their marketing strategies, and measure the effectiveness of their sponsorships. This approach ensures a more targeted and efficient use of resources.

This can have an indirect effect on sales, but it's worth a try. For example; If you have sponsored a basketball team, you can develop a concept that includes donating the income of each product you create for the sponsorship by combining it with each basket made throughout the season.

Sponsors are now prioritizing partnerships that emphasize social and environmental responsibility. Aligning with causes such as sustainability, diversity, and community development can enhance brand image and resonate more deeply with consumers. Demonstrating a commitment to these values can attract more conscientious audiences and create a positive brand association.

You can use influencers to increase your sponsorship sales. Influencers are people who have a large following on social media. They can reach many people with their content, which can help you increase brand awareness and sales. You can use digital marketing to promote your sponsorship. With marketing activities such as hashtag campaigns, sweepstakes, contests, live broadcasts, and influencer collaborations, you can increase your activity on social networks and engage users. You can use social media ads, email marketing, landing pages, notifications, NFTs, and the metaverse to reach your target audience and achieve your marketing goals.

The rise of digital and hybrid events has transformed sponsorship opportunities. Virtual and hybrid experiences allow for broader reach and engagement, providing sponsors with innovative ways to interact with audiences. These platforms offer interactive features, such as live chats and virtual booths, enhancing the overall experience and engagement levels.

Creating value for prospects or customers goes beyond mere contractual agreements—it involves co-creation and collaboration with current partners. Picture it as an equation: 1+1=3, where partners build relationships, and you, as the rights holder, serve as the conduit and add value. This approach, honed during my tenure with the New York Jets and educational partners, exemplifies innovation in sponsorship sales. An illustrative instance involves RedBox and New York University, where we empowered students to devise ways to enhance the partnership. This collaboration not only elevated the sponsorship but also fostered lasting relationships. It's all about unlocking new dimensions of value and connection for partners.

A true corporate partnership is conceptual, based on the needs and objectives of the partner. The assets you include need to tell a story and explain how you will complete those objectives. Think of a wheel with spokes, you have the concept in the middle and all of the spokes are the assets driving that overall campaign.

It’s not about what the asset is, it’s what it does for the partner. How does the assets in the partnership tell the story of the objectives the partner wants to achieve.

While storytelling and emotion can help sponsors and properties communicate their brand identity, values, and purpose, it is crucial to ensure that these narratives align with the target audience's preferences and aspirations. One notable example where an overemphasis on emotion went wrong is Pepsi's ad featuring Kendall Jenner. The ad attempted to generate an emotional connection by portraying a protest scene and suggesting that Pepsi could bridge society divisions. However, the campaign received huge backlash for trivialising important social movements and minimising the complexity of real-world issues. Make sure you get the story right for your audience!!

Effective storytelling and emotional engagement are powerful tools in sponsorship sales. Brands are focusing on creating narratives that connect with audiences on an emotional level. By telling compelling stories, sponsors can build deeper relationships with their audiences, making their sponsorships more memorable and impactful.

Perzonalization is absolutely key to a creative sponsorshop activation that really hooks the intended audience. We are seeing a shift away from traditional marketing, where a logo can be on a banner with 100 other logos. Brands want their story to be told and the best way for that to be the case is to create activations that evoke an emotion with the audience. That is not possible with a generic pitch or a template. Creativity can come in any flavor, and the imagination of the creator is the only limitation. But use of data and analytics can put you on the path of success so that the creative idea hits the right demographic and in turn provide tangible value to the brand. In summary, personalization can lead to increased revenue!

When it comes to sponsorship sales, nothing is more important than understanding how the property will help solve the most pressing problems a prospect is facing. All the trends detailed in the article are important but without a specific promise, brands will not engage. If a beer brand is looking to connect with young adults, can you league help them? How? If an apparel brand is interested in the Chinese market, can you host your next global event there to help them? How can your athletes help a brand communicate their sustainability efforts more interestingly? Can a sponsorship help the company connect with its customers? If you follow these tips, you will be closer to signing your next deal.

There are lots of properties out there that brands can pick from. Help me understand the unique value proposition your property provides (audience, assets, activation approach, etc.) and how THAT can help me connect with my priority consumer segments. What’s unique about yours that I should prioritize spending dollars with you versus someone else.

There are lots of properties out there that brands can pick from. Help me understand the unique value proposition your property provides (audience, assets, activation approach, etc.) and how THAT can help me connect with my priority consumer segments. What’s unique about yours that I should prioritize spending dollars with you versus someone else.

The ultimate goal of Sponsorship is to have a positive effect on the audience. Something they can never forget. Something that makes them feel warm and fuzzy inside. Furthermore, if your Sponsorship can increase the value/outcome of the event, you get double your ROI - Return On INTERACTION. Investment in motorsports is becoming increasingly popular due to them having the most sponsor dedicated fans out of any sport or industry. Furthermore, partnering with grassroots motorsports provides a HUGE opportunity to change the way the game is played for a fraction of the cost of major sports Sponsorship. All are big win opportunities for the brand!

Sponsorship and sales are two different concepts with limited overlap. Sponsorship is not done to increase sales, but it can indirectly lead to increased sales if done correctly. It's important to put the consumer at the center of all sponsorship activities. Here's the magic sentence: If you want to increase sales with sponsorship, don't focus on sales! Let go of the pressure to sell and focus on creating an experience that will resonate with consumers. I guarantee that you'll be rewarded for this approach, because sponsorship is one of the few marketing tools that allows you to directly connect with consumers, and its impact can be significant.