Baby boomers, who have left their mark on pretty much every corner of society, are now reaching retirement age, are living longer and are in better health than their predecessors. This demographic evolution means that the number of people over 65 will double in the next 25 years. In turn, this will lead to significant economic changes and will also represent a huge challenge to event promoters, who will have to adapt their offering to attract new visitors or spectators on site and appeal to new television audiences.
Data measurement. We talk about it so much that it almost registers as a trending topic. And yet, despite all of our chatter, the truth is that sponsorship initiatives often go largely if not completely unmeasured, and, when we do attempt to quantify success, we often go about it wrong.
There are three gaps that undermine most attempts to measure sponsorships....
Article by Wael BSAIBES, Charlotte GRAY, Martin HAMMER, Jo HILL
For a sports property looking for sponsorship, finding companies that are willing and able to enter into partnerships is no mean feat. But before plunging into a deal, what are some of the considerations the sports property should consider about to ensure success? There are plenty of risks and pitfalls which could harm the property’s prosperity and brand. Taking time to assess risks before making a sponsorship agreement ensures that the property can mitigate some of these potential issues in the planning stage.
In 2014, the Canada Sponsorship Landscape Study noted a 6.7% decrease in sponsorship spending in the country after years of steady increase. This sector is once again seeing growth—IEG predicts a 4.5% increase in 2016—in large part due to the arrival of new players and the increase in activation budgets (which is often taken from the amount paid in rights). As a result, several properties are facing a cap on their sponsorship revenues, especially in high-level professional sports and important music festivals.
Because anything can be sponsored—or almost anything—you’d think that companies would be busy transforming their sponsorship portfolio every time a new trend hit the market. Instead, they tend to focus on their existing partnerships because long-term relationships have a way of paying off.
We are seeing a stabilization of partnerships in the major sponsorship categories, which suggests that brands are adopting a more strategic approach. The average duration of a partnership has also gone up. There is less movement in the marketplace overall, with the exception of brands pulling out during more difficult economic periods.
It's no wonder that the sponsorship veteran refers to himself as "The Captain" at FishBait Marketing. Over the course of his outstanding three-decade career, he has sold sponsorship packages for some of the top sports and entertainment properties in the world: Wimbledon, the PGA Tour, the Goodwill Games and the Cricket World Cup—to name a few.