Sylvia Allen keynote presentation at The Business of Fun 2011


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Sylvia Allen presents on creating and delivering more value from sponsorship partnerships at The Business of Fun 2011

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Sylvia Allen keynote presentation at The Business of Fun 2011

  1. 1. Creating and Delivering More Value from Sponsorship Partnerships to Build Revenue for Your Bottom Line
  2. 2. Over 2,000 years ago … <ul><li>Epictetus, 55-155 AD </li></ul><ul><li>“ What concerns me is not the way things are but, rather, </li></ul><ul><li>The way people think things are” </li></ul>
  3. 3. How are you selling your sponsorships? <ul><li>My guess? </li></ul><ul><li>You have a list </li></ul><ul><li>You put together a ‘package’ with various sponsorship options </li></ul><ul><li>You mail out with a response mechanism </li></ul><ul><li>You pray ! </li></ul>
  4. 4. You have to … . know your product .know your buyers . understand their needs . customize to meet those needs THEN DELIVER … TO BE SUCCESSFUL …
  5. 5. Sponsorship spending for 2011 <ul><li>$18.2 billion (U.S.) </li></ul><ul><li>Worldwide $48.7 billion (including U.S.) </li></ul><ul><li>Sports 68% </li></ul><ul><li>Entertainment/tours 10% </li></ul><ul><li>Causes 9% </li></ul><ul><li>Arts 5% </li></ul><ul><li>Festivals/fair/events 5% </li></ul><ul><li>Associations/membership orgs. 3% </li></ul>
  6. 6. Promotion marketing for 2011 <ul><li>$400 Billion!!!! </li></ul>
  7. 7. Sales steps to take during difficult economic times <ul><li>Go “outside” your normal contacts </li></ul><ul><li>Explore recession resistant categories </li></ul><ul><li>Make 5 extra calls a day </li></ul><ul><li>Ask for referrals </li></ul><ul><li>Offer creative financing </li></ul><ul><li>Treat customers as partners </li></ul><ul><li>Write your goals </li></ul><ul><li>Be a consultative salesperson </li></ul><ul><li>Keep in touch with former sponsors </li></ul><ul><li>Don’t get discouraged </li></ul>
  8. 8. Know the recession survival statistics <ul><li>McGraw-Hill has researched each recession. Their conclusion? Companies that CUT marketing dollars during a recession not only lost market share but had to spend twice as much when they came out of the recession to REGAIN their original share! </li></ul><ul><li>Others chime in … Bain and Co. 1990-91 </li></ul><ul><li>McKinsey and Co. 2000-2001 </li></ul>
  9. 9. Know the trends in marketing… <ul><li>Grassroots marketing </li></ul><ul><li>Category exclusivity </li></ul><ul><li>Cross promotions/leveraging with other sponsors </li></ul><ul><li>Flexibility </li></ul><ul><li>Virtual experience </li></ul><ul><li>Measurable </li></ul><ul><li>Globalization at the local level </li></ul><ul><li>Consumers are budget conscious </li></ul><ul><li>Aging population </li></ul>
  10. 10. Know what sponsors want … <ul><li>Increase sales </li></ul><ul><li>Corporate hospitality </li></ul><ul><li>Introduce a new product </li></ul><ul><li>Expand use of current products </li></ul><ul><li>Sampling </li></ul><ul><li>Asset/category exclusivity </li></ul><ul><li>Employee incentives </li></ul><ul><li>Customer incentives </li></ul><ul><li>Trade incentives </li></ul><ul><li>Product branding </li></ul><ul><li>Differentiation from the competition </li></ul><ul><li>Association with a particular lifestyle </li></ul><ul><li>Heighten visibility </li></ul><ul><li>Shape consumer attitudes </li></ul><ul><li>Entertainment </li></ul><ul><li>What else can you think of? </li></ul>
  11. 11. And more … <ul><li>Attendees at the Irish Sponsorship Summit in March stated the following elements were part of their decision making process: </li></ul><ul><li>Expanded Measurements </li></ul><ul><li>Experiential Marketing </li></ul><ul><li>Activation </li></ul><ul><li>Lifetime Value of a Customer </li></ul><ul><li>Asset Exclusivity </li></ul><ul><li>Cross Promotions </li></ul><ul><li>Partnerships </li></ul><ul><li>Longer Relations (3 plus years) </li></ul>
  12. 12. Sell benefits, not features! <ul><li>DON’T say … “posters, flyers, signage, blah, blah, blah” </li></ul><ul><li>RATHER … a variety of marketing collateral and on-site opportunities that reaches a diverse market ( YOUR market), helping you reinforce your branding strategy and achieve your marketing objectives within a target market </li></ul><ul><li>And, tie into what they said they want!!!! </li></ul>
  13. 13. And, don’t dwell on branding! <ul><li>Sponsors are savvy </li></ul><ul><li>Sponsors want more </li></ul><ul><li>Sponsors want a return on their investment (ROI) </li></ul><ul><li>Sponsors are just as interested in intangibles as they are tangibles </li></ul><ul><li>Sponsors want to be treated as partners </li></ul>
  14. 14. Who should you approach? <ul><li>Approach companies that are currently advertising … show them how you can maximize that money through event/festival marketing </li></ul><ul><li>Read trade journals to see who is spending advertising dollars … target that for re-allocation into sponsorship </li></ul><ul><li>MOST IMPORTANT … START EARLY </li></ul>
  15. 15. Do your homework before you make contact! <ul><ul><li>God bless Google (or Yahoo or any of your favorite search engines) … research the potential sponsor </li></ul></ul><ul><ul><li>Spot the need </li></ul></ul><ul><ul><li>Match need to your resources </li></ul></ul><ul><ul><li>Ask for the order </li></ul></ul><ul><ul><li>Make the sale! </li></ul></ul>
  16. 16. Some basic words of advice! <ul><li>Eliminate negative thoughts </li></ul><ul><li>Know your property </li></ul><ul><li>Be tenacious </li></ul><ul><li>Start early </li></ul><ul><li>Be willing to negotiate </li></ul><ul><li>Read, read, read </li></ul><ul><li>Research, research, research </li></ul><ul><li>Provide a post event report </li></ul><ul><li>Hold a Sponsor Summit </li></ul>
  17. 17. Lucky bits of advice <ul><ul><li>Believe you have already succeeded when you walk in the door </li></ul></ul><ul><ul><li>Have written goals for your sponsorship efforts </li></ul></ul><ul><ul><li>Go the extra mile for your sponsors </li></ul></ul><ul><ul><li>Be willing to negotiate </li></ul></ul><ul><ul><li>Be willing to walk away </li></ul></ul><ul><ul><li>Have a personal mission statement </li></ul></ul><ul><ul><li>Deliver 110% </li></ul></ul><ul><ul><li>Take responsibility for your actions </li></ul></ul><ul><ul><li>Replace negative statements with positive statements </li></ul></ul><ul><ul><li>Allow yourself to make mistakes … none of us is perfect! </li></ul></ul><ul><ul><li>Always ask yourself … what is the worst that can happen? </li></ul></ul><ul><ul><li>Be honest … with your sponsors and yourself </li></ul></ul>