Sponsorship Challenges for 2017
We are honoured to be on Optimy’s list of the 14 most influential sponsorship experts and to be asked to contribute to their article about “What are the 3 main upcoming challenges in sponsorship?”
You can read our response below and those of the 13 other sponsorship professionals on Optimy’s site.
What are the 3 main upcoming challenges in sponsorship?
1) Not doing technology for technology’s sake
Technological advances will keep coming thick and fast. How do both brands and rights holders know which to take up? It will come down to accurate customer insight and having strategic filters by which you assess all new initiatives. It means having the capability to judge but being brave enough to say no to those that don’t fit with your strategy and won’t directly help achieve objectives.
2) Analysis of data as more companies invest in CRM and data
Both rights holders and sponsors should be investing in customer insight. More than just collecting data to send emails out, they need to be mining that data to learn about customer behaviour and preferences, and to predict future behaviour. Rights holders in particular need to know their audience well in order to present themselves to sponsors as a platform to reach that audience.
3) Increased scrutiny in measurement
As sponsorship becomes more integrated into marketing, brands need to plan, manage and measure their sponsorship activity with the same scrutiny as any other marketing activity. They need tools to strategically plan and actively manage their sponsorship, and then evaluation frameworks that will measure the effectiveness of their sponsorship in terms of their marketing objectives.