Welcome back! For most of us, it is the first day of work in 2012. It is a new start, a time to meet new goals, and a time to place 2011 in the rear view mirror. Whether or not your fiscal year began two days ago, it is a time of new beginnings. Everyone wants to start fresh. So what is in store for us in the sponsorship world of 2012?
Recently, the Chief Marketing Officer (CMO) Council released its study on local marketing initiatives. For those of us in sponsorship marketing, the results are great. Fifty percent of the brands surveyed stated that local marketing is essential to business growth and profitability. Almost one in four such brands plans to expand local marketing budgets and almost one in two is looking for new local marketing channels.
This is what the big international brands such as Burger King, Toyota, Coca-Cola, and others are saying. So, how does this affect you as a local small to medium-sized business? What do you care if you are a local sports team or charity? It means a great deal to you both.
As a small business that has supported local sports teams, charities, and non-profits, you are already in the game. In my opinion, you need to step up to the plate further. You need to become more entrenched with the organizations with which you partner. You must become more integrated and ensure that you own elements of the property. It is critical that you activate to benefit you and the property. Now is the time to sign a long-term deal. Most small and medium-sized businesses and regional businesses will not have the dollars to compete against the big brands when they push into the local marketing scene.
So, it is important to be strategic. If sponsorship and experiential local marketing is not your forte, get help. Go to a sponsorship agency such as the Partnership Group – Sponsorship Specialists™ or an ad agency that specializes in these areas of the industry.
For the properties, it is clear. There is new opportunity here. These brands are extremely sophisticated. They clearly understand the importance of being involved in grassroots marketing. They understand that sponsorship is the key driver to successful local brand integration and grassroots initiatives. But to be successful, you need to know what you have to sell and what it is worth. These brands know the values of your assets. There is no fooling them. Take the time now. Build a comprehensive inventory of assets. Determine the value of each asset and be prepared to custom-build proposals to meet their needs.
It is a new year. It is a new beginning. By all accounts, 2012 promises to be an amazing growth year for the sponsorship industry. The brands that activate and invest wisely will reap the returns. The properties that know what they have to sell, know what their assets are worth, and can do the process right to secure and deliver on great sponsorship programs will succeed.
Those that fail to do these things will wish it was still 2011.
These are just one person’s thoughts. Yours are welcomed as well, please comment below. And thank you for reading.
Brent Barootes