Using The Power Of Sports To Grow Your Brand And Business (Forbes)

The below interview with Kelvin Joseph was previously published in Forbes by: Steve Olenski , CONTRIBUTOR Opinions expressed by Forbes Contributors are their own.

For those who don't know me, I am a sports fanatic. Literally. Live and breathe it and have since I was a wee little lad. I have always held the belief that the world of sports and business/brands share many traits and there is much to be learned from the world of sports when it comes to the world of marketing/business and so on.

I've had the honor of interviewing some legendary sports figures including a Hall of Fame, Super-Bowl winning quarterback and a Hall of Fame, Super-Bowl winning wide receiver, who shared many lessons they learned between the lines that transcend into our world of marketing quite seamlessly.

Not long ago I spoke with someone with a different perspective on the world of sports and marketing and how the two interact, Kelvin Joseph, the CMO of Steiner Sports — a company that specializes in helping companies from new startups to Fortune 500s use the power of sports to grow their business.

They do this via many capabilities including talent procurement, turnkey event production, brand activation and promotion and more. As part of the Omnicom Group the core of Steiner Sports’ value proposition allows companies to leverage its expertise, existing relationships, and $25 million annual athlete procurement spend to create marketing efficiencies, and maximize limited marketing budgets.

We covered a lot of ground during our chat including how much has changed since 1987, the year Steiner Sports was founded and how his own financial background helps in his role of CMO.

Steiner Sports CMO Kelvin Joseph

Steve Olenski: When we spoke on the phone you told me of a change going on at the brand. Can you elaborate on what those changes are?

Kelvin Joseph: Some CMOs want to avoid the word “rebranding.” When you are the world leader in a category it becomes your identity. That is not a bad thing. For example, Amazon.com was happy to be the place to buy books as they disrupted an entire industry in their infancy. Do you think of them as an online bookstore now? Did they rebrand? They leveraged what they were good at to expand and evolve.

We did the exact same thing in sports. Steiner Sports is still the leading producer of authentic hand-signed sports memorabilia, but it’s not a stretch to believe Steiner Sports’ value proposition now allows companies to leverage its expertise, existing relationships, and $25 million annual athlete procurement spend to create marketing efficiencies, and maximize limited marketing budgets.

Olenski:  What was the impetus to make these changes?

Joseph: We’re entering a new era of digital transformation where creating value for the customer and transforming the customer experience has become very important for growth. Change is unavoidable, so if you are not growing then you are shrinking! We realized that meeting a celebrity and getting a picture that could be shared on social media has a higher value and business use than an autograph.

Many corporations are using tickets to live sporting events in their client entertainment, and making big bets on sponsorships as part of their marketing plans. Steiner Sports determines what sports marketing strategy will benefit the company the most, providing access to the right athletes and sports properties at the right time, negotiating contracts for the best deals, and measuring and analyzing results to ensure ROI.

Olenski: Needless to say a lot has changed since 1987 when the company was founded. While I won't ask you to name ALL the changes since then, give the readers the say top 3-5 things that have changed the most in the world of sports marketing since Whitney Houston wanted to "dance with somebody" and Arnold Schwarzenegger battled the Predator?

Joseph: In 1987, you had to have an athlete’s home phone number and he would have to be home when you called. No internet, no email, no mobile phone, and no voicemail (maybe an answering machine). Our founder, Brandon Steiner, had to stand in parking lots after practices and games to get Steiner Sports started. Now, everybody and literally their mother wants to be in Sports Marketing. There are a lot of “experts” making multi-million dollar decisions. It’s scary!

Olenski: You have a financial background having served in an auditing role for Ernst & Young to name one example. How does experience benefit you in your role as CMO? I would imagine it affords you a unique perspective into the world of a CFO that perhaps other CMOs don't necessarily have?

Joseph: Do you know why CMOs only last 18-24 months? We need to be able to deliver a return on marketing investments and articulate our vision in a language that CFOs understand, while staying aligned with the CEO. A CFO is primarily responsible for managing the financial risks of the corporation. This CFO is also responsible for financial planning and record-keeping, as well as financial reporting to the CEO and board. In some sectors the CFO is also responsible for analysis of data.

I’m building a reputation as “The Intersection of Sports Marketing and Finance.” As a CPA, former CFO, business owner, current CMO, I'm utilizing extensive experience in business consulting to help companies from new startups to Fortune 500s monetize their marketing spend.

Enjoying close personal relationships with professional teams, star athletes, and sports media puts me in a unique position to guide corporate clients to leveraging full or fractional access to appropriate sports figures and assets to build their brands through athlete appearances, turnkey events, local and national promotions, and digital content.

Olenski: Taking a more holistic approach when it comes to marketing, what are some things that jump out at you in terms of not only the present but the future i.e. things such as Artificial Intelligence or the Internet of Things? Do these kinds of things excite you in terms of "new toys" for marketers to play with? Or do you think we're either at or close to reaching any kind of tipping point when it comes to marketing and too much technology?

Joseph: Technology is changing how we market. Brand building without accountability is over. If you can’t measure it then you can’t justify it. Sponsorships, brand ambassadors, and athlete endorsements can be maximized, reduced, or eliminated with the right sports marketing strategy. Massive change is coming and I think I’m on to something…

@steveolenski is a marketer who also happens to be among the most influential writers in the space. He's been called The CMO Whisperer & Distiller of Truth. He's looking for his next challenge.

Original article: https://www.forbes.com/sites/steveolenski/2017/12/28/using-the-power-of-sports-to-grow-your-brand-and-business/#28e4aee939a5