Do you want better ROI from your sponsorship program? The answer is convoluted but simple at the same time. Sure there are a ton of factors like creative and activation and the right audience etc. that are critical in determining better ROI, but in my mind after 35+ years in the sponsorship marketing game, there is one key element that can help you to get better ROI.
Whether you are a brand buying a sponsorship or a property selling sponsorship, the key ingredient is relationships. We need to develop deeper and more meaningful relationships. But to build deeper and more meaningful relationships we need to network and spend time with people. We need to stop selling all the time. We need just to build relationships. We need to focus on understanding our partner’s needs, not selling them a program or pushing them to allow you to activate your sponsorship that they know will not work with their audience. Listen, learn, support and deliver results to your partner. But unless you know them inside out, you cannot do that. And if the brand won’t give the property the information, they need to build the right program for that brand, then it won’t be successful. If the property is selling a program to make budget or because they were told “we need a sponsor for this event or that experience” versus doing what is right for the sponsor, you will pay the price long term.
Today this industry is growing at exponential rates. More and more people are joining our ranks. I was at the SMCC Breakfast Forum in Toronto and there had to have been over 150 people attending. Most I did not know. Of the speakers, I knew personally about 25% and knew of about 25% – so 50% I did not know or even know of. That is how fast we are growing. New people in place. A next generation what is great. But unfortunately, I am finding too many people are not reaching out and getting to know others. The “art of networking” is dying. People go to events and stick with their cohort or small tribe. They don’t day hi to the person next to them and introduce themselves. They don’t strike up a conversation with a stranger (even at an event that you are all peers)! Furthermore, they bury themselves in their cubicle or at “work from home” and never see anyone (in the industry) for perhaps weeks on end in person. Lots of Zoom and working with our heads down. But if we don’t get out and see people and build relationships and maintain relationships, we will not be successful.
If you are reading this, whether you are a newbie to the sector or have been in the sector for 35+ years, pledge over the next 4 weeks to meet at least 3 people each week in person, face to face, one on one (so not at a big function but it might be you and two others for coffee but no more than that) and one of them has to be someone you have never met in person before… each week. And also commit to attend at least one event / experience per week each of those 4 weeks. If you start with that hopefully you will carry it on or grow those numbers. Building your network and developing your relationships with these industry professionals will hone your skills in listening and learning which will make you successful in our relationship-built industry!
I look forward to hearing from you and letting me know if you were able to meet with 12 people over the month of which 4 of them you have never met face to face before. And to have attended 4 “sponsorship” events! I will try and do the same.
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