Even in the digital world, the old truism that people buy from people remains as valid today as it ever did.
A new report drawing on interview material from 30 Irish sponsors and rights holders highlights the fact that it is the ‘People Factor’ that is most important when it comes to the success of the best sponsorships.
Livewire, part of Core Media, Ireland’s largest media group, conducted in-depth interviews with over thirty sponsors and rights holders in charge of some of the best sponsorships in Ireland. The aim of the research was to understand how the people behind the biggest sponsorships manage their relationships and to pass on the learnings to the wider industry.
Among the key themes to emerge are the sense from both sides that each of them are doing the heavy lifting in terms of enabling activation. The report suggests that greater open communication around expectation and execution will relieve the tension that would otherwise inevitably emerge from this.
Another common frustration is where both sides feel a degree of being ‘left out’ when it comes to either the sponsor using the assets in wider marketing channels or the rights holder being seen us inflexible when it comes to matching up to broader business objectives.
One of the strong positives is the similar criteria that both sides are increasingly looking out when it comes to forging a partnership.
Sponsors look for a rights holder that will be eager to learn about their business and their objectives for longer term planning. Rights holders have grown now to recognise that long term renewal with the right partner is more important than the simple fact of money on the table.
Simple thank you’s are often overlooked and highly rated by both sides when it comes to reviews of how a phase of the sponsorship has come to an end.
I used to manage a sponsorship programme which involved 200 individual events in horse racing. The races were won by an incredible variety of owners but only two consistently took the time to right an individual than you letter (how old school is that?). Both of them are Irish and neither of them were looking for anything other than to mark their genuine appreciation for something that meant something to them.
Both sides believe that there is more to be gained from the majority of their sponsorships. That is one of the factors which prompted the founding of Sport for Business in the first place. We provide an independent source of intelligence on what is happening in Ireland and around the world so that brands, agencies and sporting rights holders can look beyond what is happening today and learn what could be of benefit tomorrow.
Agencies are a critical part in the relationship between the event and the name that is associated with it. Livewire is new to the market but this open report has been a good start in getting people in the industry talking.
The report finishes off with a selection of direct quotes from those interviewed. It has been enjoyable looking at how to attribute each one to people who we can imagine having said exactly phrases like:
“When everyone has skin in the game, everyone wants to make it work.”
“The best sponsors ask you what is your vision for growth.”
“Say no quickly to opportunities that don’t fit but say yes slowly.”
A full copy of the report can be obtained by emailing Jill Downey or Jamie Macken info@livewire.ie
