October Sponsorship Brands Community Zoom Call Summary
With the recent PWC Sports Survey release in September, our members reviewed the key findings relevant to the Sponsorship Brand industry. There was great conversation reviewing real examples on the partnership field.
|Aston Martin||Red Bull|
|General Mills||Umbro SA|
Collaboration has become key
- Some brands said this was now a priority. Finding creative ways to work with other brands as a way of communicating with their target clients.
- Additionally, there is a need to find other partners/brands that right holders can work with to build value for both. Collaboration is replacing one dimensional partnership.
- One brand said that specifically finding complementary collaboration within the CSR space and with athletes can brought all their supporters together and has shown to be successful
- Several brands spoke about working with rights holders to connect them to other new partners, leading to successful campaigns.
Education around the value of rights is still unclear
- With the loss of traditional tangible assets, education internally around the value of new assets, such as digital, has proved to be hard to communicate. This has been frustrating.
- You may need to lean heavily on the rights holder for valuation, therefore everyone needs to remain flexible and proactive.
- Several also felt that rights holders need to work better with the brands by adding value to the existing partnership in new ways and by creating new assets
- This test the trust of the partnership to make sure brands stay relevant and meaningful. Particularly when trying new and different assets that they haven’t previously used
Changing the traditional model
- If you see an opportunity, work with your rights holder – they are also rethinking their traditional model and having genuine relationships can create new areas to explore. You must be able to have the conversation to see what is possible. If you don’t ask you won’t find out what else is available
- One particular brand has taken the opportunity to manage their rights holder’s esports, creating its own assets and brand awareness through the gaming space.
- It is about creativity and the talent to think beyond what was previously agreed. This allows both in the partnerships to achieve and deliver a mutual benefit. Proactivity is vital.
You don’t always need to reinvent the wheel, be creative and look to innovate
- The view is not all about pivoting, but in creating and leveraging the value of the sponsorship/consumer brands that also relates with the rights holders.
- Several spoke about how rights were repackaged and distributed in different formats to target the relevant consumer – content has been a great source for invention here.
- There was a feeling that there wasn’t a clear vision of how you extract value. This is still the main objective regardless of the asset.
- Finding the new “money can’t buy” opportunities is important. Creativity is key – One brand created their own private Zoom Calls with athletes, giving 1-to-1 intimate experiences.