Strategy Session: How Properties Can Optimize Sponsorship Performance
Strategy is the heartbeat of every successful sponsorship. Having a clearly charted route for how your property plans to tackle sponsorship initiatives ensures your competitive edge stays razor-sharp. The guiding light on all roads to high-performing sponsorship? Data.
As the year comes to a close, you may be taking stock of your sponsorship efforts to see what generated success and what missed the mark. With a recession looming, the need for data has never been greater to safeguard sponsorship returns in the new year.
Here’s how to tackle sponsorship in 2023:
Find your Fit
First things first: To find your fit, you need to understand where you’re positioned within the market. What do you bring to the table? Where are you missing the mark? By developing a firm understanding of your strengths and weaknesses, you can address (or embrace) the gaps and forge partnerships that are built to last.
From there, you’re off to the races. SponsorPulse category and brand data provides properties with the most compelling view that customizes the narrative for the brand they’re looking to partner with. Even further, our insights can develop your understanding of the market with property data that enables you to know where you stand among competitors.
Let’s envision this in action. Imagine that the NCAA is looking to partner with a performance apparel brand. Using SponsorPulse, the NCAA can determine that opportunity is high in this category—with an opportunity score of 50 among NCAA engaged-consumers who've purchased high-performance apparel from a retailer in the past year! Armed with that relevant information, the NCAA can demonstrate to a potential partner brand that their fans are active in the prospects' purchasing category.
Taking it a step further, suppose they’re looking to secure a partnership with Under Armor. By leveraging brand data from SponsorPulse, they can demonstrate the percentage of NCAA-engaged fans that have purchased the brand in the past and their likelihood to convert, as well as how NCAA fans engage with competitor brands.
Determine your Value
While you may leverage SponsorPulse to help determine the value of potential brand partners, it’s beneficial to also turn the lens towards yourself. Our Opportunity Value score provides a consumer-driven target investment range across tiers of partnership to ensure you’ve got a clear understanding of your worth when it comes time to negotiate.
Plus, if you’re looking to take that Opportunity Value further by identifying the value of all your assets, we know just the team to help—our partners at Turnstile!
Measure your Success
Are your sponsorships hitting the mark? Our Impact Reports are designed to give sponsorship professionals a clear understanding of performance. What’s working? What’s not? Our platform lets you know so that you can set benchmarks by establishing a baseline of objectives for brand partners using our standardized metrics that can be trended.
From there, properties are able to optimize their asset mix by identifying what assets are coming through for them and driving partner gains—enabling them to pivot quickly if something isn’t optimized for success.
Secure the Bag with SponsorPulse
With stormy economic skies on the horizon, it's critical that properties ensure their sponsorship efforts are bulletproof when it comes time for renewals. Try SponsorPulse for free today to learn more about how to optimize your partnerships to drive lasting gains!
