When it comes to sponsorship, media is in a unique situation:
- Media are often both sponsors and sponsorship seekers.
- Sponsorship needs to anchor both short-term advertising sales and longer-term brand-building.
- Media industry precedent is that sponsorship packages reflect a heavy discount on the equivalent media buy, devaluing what you have to offer.
Kim Skildum-Reid understands all of this, and can offer the direction and advice to make it all work. You can use sponsorship to build your brand and influence your target markets while hitting short-term revenue targets. You can sell sponsorship without compromising the integrity of your content. And you can package sponsorship offers so their value is more than the sum of the parts, not less.
The type of consulting media organisations require will vary greatly from one to another, but could include the following components.
Sponsorship strategy development
The primary component in most corporate consulting projects is the development of a comprehensive sponsorship strategy. All strategies are developed for use across a minimum of three financial years and will include strategies for investing sponsorship, seeking sponsorship, or both.
Strategies as a sponsor can include:
- Achieving key marketing and revenue objectives for the organisation and/or key projects.
- Connecting with and add value to key market segments.
- Developing advertising revenue streams off the back of sponsorship investments.
- Extending the timeframe and/or geographic reach of sponsorships.
- Making small sponsorships deliver the results of a much larger investment.
- Streamlining and simplifying the portfolio, without compromising results.
- Negotiating and renegotiating key investments, including strategies for mid-term renegotiations.
- Shaping and improving the portfolio, year-on-year.
- Measuring the real results against multiple short- and long-term objectives.
Strategies as a sponsorship seeker can include:
- Identifying your best commercial assets, as well as those that will only waste your time and resources.
- Developing a methodology for creating offers that are worth more than their associated media values.
- Creating a workable sponsorship structure and hierarchy.
- Structuring an efficient and effective sponsorship sales process within the current sales/promotion framework.
- Securing new sponsors and maximise revenue from them.
- Maximising revenues from current sponsors, including reinventing underperforming sponsorships.
- Addressing strategic, political, and relationship issues with current sponsors.
- Extending the functional geographic reach and timeframe of your properties.
- Increasing the value of smaller properties, making them “punch above their weight” in sponsorship revenues.
Sponsorship portfolio review and audit
In addition to providing strategy development, Kim will also conduct a thorough audit of your sponsorship portfolios, identifying:
- Underperforming sponsorships, providing strategies to optimise their performance.
- Performing sponsorships, and key techniques that can be emulated across other investments.
- Outbound sponsorships that are ill-fitting or have run their course, providing exit strategies.
- Inbound sponsorship opportunities that have the most value, as well as those that are unlikely to be sold.
- Areas of geographic, market segment, or timing imbalances within the portfolio, providing strategies to address those issues.
Kim will also conduct a zero-based sponsorship audit. This technique is invaluable for creating an organisational vision of what is possible to achieve with sponsorship.
Sponsorship measurement plans
Given the importance of accurate, relevant measurement, Kim will develop a measurement plan that will assist you in measuring the real results of sponsorship across your organisation, against benchmarks, not the mechanisms so often measured.
Sponsorship doesn’t work in a vacuum, so buy-in is essential to ensure understanding, support, and uptake of the new approach, Kim will undertake all of the following:
- Involving key decision-makers, influencers, and the existing sales stakeholders in the strategy development process.
- Incorporating rationale for all recommendations in the strategy.
- Providing intensive training and coaching for the frontline sponsorship, marketing, and/or sales team.
- Providing training on the basics of best practice sponsorship and how to harness it to a broader stakeholder group.
- Addressing the executive committee (as appropriate), providing a comfort level with a move to best practice sponsorship.
Creating a consistent approach to sponsorship
In addition to the training outlined above, Kim will provide a compliment of tools and templates to support the strategy and new approach. If appropriate, we can also provide training, tools and templates, and a manual for your regional offices (as appropriate).
Want to discuss sponsorship consulting with Kim Skildum-Reid? Drop us a line!
PH (AU): +61 2 9559 6444
PH (US): +1 612 326 5265