We live in changing times. Who would have conceived a decade ago that the world’s largest movie company (Netflix) would own no theatres? What would you have thought if I told you ten years ago that the world’s largest retailer (Alibaba) would have no brick and mortar stores? And what if I said the largest transportation service (Uber) would own no cars. You would have called me crazy!
The world is changing rapidly. But I think we in the sponsorship world are being left behind. We are still stuck in old ways. Too often, we use static activations, banners, and booths. Truly, some brands and properties (mostly in the sporting world) understand the digital world and engaged interaction of activation, but the majority of our sponsorship offerings (assets) and activation opportunities are lodged in the 1980s!
I believe it is time we unlearn what we have always done and relearn the new world. The famous futurist Alvin Toffler once noted that “the illiterate of the 21st century will not be those that cannot read and write, but those that cannot learn, unlearn and relearn.” It means we have to tear down the walls we have built and reconstruct them, not with bricks and mortar, but with virtual reality and digital images. This means that stodgy old board members, executive directors, CEOs, and those sitting at the helms of archaic organizations need either to get out of their own comfort zones or get out of the way. E-Sports is growing at lightening speed and has been for almost half a decade. But associated sponsorship investments and alignment are moving at a snail’s pace.
If we want to the industry to grow, if we want to deliver better results and ROI to groups such as Generation Z, we need to actively and consciously throw away old processes and make way for new concepts.
This industry was once a leader in innovation. But today, we trail and fall behind. We need to tap and adapt. If we want to be on a continuous road to success, we need to listen to younger generations and adapt to their ways of thinking.
© 2020 All rights reserved.