Partners

The dictionary defines a “partner” as “a person or entity who shares or is associated to another person or entity in some action or endeavor”. Basically, two people or organizations that work together for a mutual goal. And that is the essence of sponsorship marketing or partnership marketing.

Over the years across my careers, we have had great partners and not so great partners. I remember we had a software supplier. They were great storyteller but once we had hired them the service dropped off to next to no service at all. Unfortunately, it was customized software. We were stuck with it for a long time. And then there was the client who constantly asked for more and freebies but did not pay their bills on time (like we are talking 150+ days to get paid each month….). And another partner from hell who we provided some pro bono work to them and they kept asking for more or complained it was not satisfactory (and it was the same products and services we were providing to paying customers who were more than pleased) so they could get extra hours or cheat to get extra hours and claim meetings did not happen. And finally with Sponsorship Pursuit we have those players who still try and “refer” themselves under 3-5 different alias so they can get more prizing or bonus points for referrals. But we know who they are. We track them and know not to do business with them once our service time with them is up. (Read my TMC last week about judging character.)

But there are way more partnerships that were awesome than were horrible. Like the year of the very first NHL lockout (1994-95) we had 90% of our sponsors return for the shortened season (half season) for their full season package (full year investment amount with double up of assets over the shortened season). These were great partnerships. They got value during the lock-out part on our radio station and then all their campaign in the shortened season. They trusted us and we them. Today we have several clients that rely on us like “a team member” which is awesome. They access us whenever and we are there whenever they need us. They pay their bills; we add value where we can, and we have a huge trust between us in each of these cases. These are truly partnerships. And then there are several smaller non-profits who are our partners. They are not big clients, but we treat them just like we do the big partners. They pay their bills on time and get great results.

When I looks at our clients and some of the deals they have, I am blessed to know that they have true partnerships. Most have partnerships that go beyond the words in the agreement. COVID put a lot of pressure on both properties and sponsors. But the true partnerships resulted in the sponsors and the properties supporting each other in the ways they could. And the ones that did that… still have partnerships today. When you look out for the best interest of your partner, you will reap the rewards of a true partnership.

To meet and network with really great partners and learn form industry leaders register today for the Western Sponsorship Congress? - Alberta Forum.

? 2024 All rights reserved.