Today I was supposed to be in Edmonton at the Canadian Sport Tourism Alliance’s annual Sport Event Congress. I was to be moderating two panel discussions, and networking with provincial and national sport organizations in attendance, as well as suppliers to these organizations’ tournaments, provincial, national, and international events and championships. As you figured I am sure… this event like all others was cancelled. I am working from home, self isolating and practicing social distancing.
So how does this present unprecedented situation affect sponsorship? What do you do with the sponsor’s investment? What is the prorated amount you return (if any) based on asset exposure delivered to this point in time? What else can you be doing for your partners… be that sponsor or property?
Over the next few weeks, I will try and address in more detail what you should and can be doing now from a sponsorship marketing perspective amidst Covid 19. I will also try to not focus on Covid 19 specifically each week but deliver some other thoughts and insights.
But for this week, some quick tips for coping with Covid 19 right now.
- Communicate with your partners (via phone, video conferencing, text, social or email). Let them know what you are doing amidst this situation, understand what they are doing.
- Understand the present needs of your partner… if they are a small business and a sponsor, they may need their prepaid sponsorship fee pack to make payroll, give it back!
- As a bigger brand sponsor, this is really a bump in the road… you know you will be back after this is all over as you have been there for years… so why demand your money back now? Work with the property… they may need that cash for payroll today!
- How can you support a partner right now? Are they doing some really great community efforts… if so support them via social or otherwise! If you are running community projects to help out in the situation, how can you integrate your partners into this?
- Understand that there will be light at the end of the tunnel and a new norm will follow, but it is the organizations with relationships that will survive… not the panic driven ones that are not thinking of their partner’s best interest as well as their own.
- If you are available, here is information on a free webinar this Thursday about coping with Covid 19 from a corporate sponsorship perspective. Hope to see you there.
There will be a free session on Coping / Managing Corporate Sponsorship during COVID 19 with a Q&A/group discussion following.
Brent Barootes, President and CEO of the Partnership Group – Sponsorship Specialists®, one of Canada’s leaders in sponsorship marketing and a very well recognized thought leaders in this sector, author of Amazon Canada’s #1 selling sponsorship book will share his experiences, thoughts, present understandings as well as overview of what is happening in the market at this time around corporate sponsorship and COVID 19. This session will enlighten and assist brands / sponsors and sponsorship selling properties as well as agencies. With over 30 years experience in the sector Brent has experienced the recessions, the lock outs, the come backs and the good times for the industry and can share those practices and how that may apply them to our unprecedented current situation with COVID 19. This session will also be opened up for Q&A as well as group discussion.
Come join us on March 26 at 1:30 EST to learn, to understand, to ask questions or to bring your thoughts and knowledge. If you have questions in advance, please email me so we can help address them during the discussion.
Toronto Board of Trade
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