If you’re a CMO who’s marketing budget is consumed by one big line item – SPONSORSHIPS,
AND if the strategy to acquire these sponsorships has been that the CEO loves cricket, so we sponsor cricket,
THEN why wouldn’t you hate sponsorships?
BUT IT DOESN’T HAVE TO BE THIS WAY!
A sponsorship portfolio, that is created:
- in line with your overarching marketing and business strategies,
- selected specifically to reach your ideal target audience, and
- has a through-the-line marketing and sales approach around the roll out,
It WILL deliver the brand and revenue generating opportunities you seek.
All this may be true, HOWEVER, the challenge will be, how do we tell the CEO we’re no longer going to sponsor the ‘cricket’?
EASY, you put a strong enough case forward so she can’t say no:
- Start with a health check of what delivers and what doesn’t deliver from your partnership portfolio,
- understand the percentage of the overall marketing budget that the under-performing assets are eating up, and
- do a review of more strongly aligned partnerships in the market that could deliver against your KPIs with ease.
Armed with this analysis you have a case for changing the shape of these deals for the better.
Then, it will be time to NEGOTIATE the:
- reshaping of an existing deal so it works for you;
- exiting an under-performing deal; and/or
- entering into some new deals
All this should see you end up with a sponsorship portfolio that will rock your marketing and sales teams (in a great way).
With a strategic portfolio in place, and a co-ordinated approach to leveraging this investment across all verticals of your organisation, there’s just ONE MORE THING TO DO – buy the big boss a box at the cricket so she can continue to enjoy the summer. 😊
If any of the above has piqued your interest but you’re not sure where to start, call us to book a Sponsorship Portfolio Health Check today!