Author: Slingshot Team

Is Following your Passion Leading us Astray? 2nd December, 2013

I recently had the pleasure of guest lecturing for the amazing students at the University of Northampton. I have been fortunate enough to have spoken at a number of Universities this year including Cambridge and Westminster and always find it invigorating – mostly because it was not too long ago that I was on the other side of the lectern. However, this recent presentation included an opportunity to sit down with the students afterwards where I was able to ask them questions about their views on sponsorship. When asked what their plans were after graduation, one student’s reply particularly peaked my interest – she wanted to work in football. When I dug a bit further, I found she was so passionate about football that she would be happy with any role just as long as it was working in football. Digging further still I queried whether she would take a similar role at a cricket club? Her reply was unsurprisingly ‘no’.

Passion is what makes our industry different. Our ability to tap into consumers’ passions – whether it is for sport, music, art, or even their own industry awards, enables us to derive value based on a connection to the audience. It is what separates our marketing strategy from above-the-line campaigns. It is what makes our industry unique.

However, I would argue that our biggest strength can also be our biggest weakness. Far too often I meet Commercial Directors at sport clubs whose last role was on the pitch; Artist Liaisons and Media Managers for festivals that previously were lead singers of failed bands. To make matters worse, there have been multiple occasions where we have lost pitches to other sponsorship agencies because we were ‘not passionate enough’ about sport or music – and in one bizarre case, yoga. It seems that the criteria for being employed in sponsorship can sometimes be judged based on passion for the activity rather than the skill set required to do the job.

We have therefore hit the core part of the problem: the skill set is ill-defined and vague at best. Sponsorship encompasses so many different types of roles in so many different industries that it is almost impossible to define who would excel or even who would enjoy the type of work. In our agency alone, not one person entered the industry with the intent to become a sponsorship professional (I wanted to be a mathematician). And even with the clients that we are working with, some of our most creative and successful work comes from industries/organisations I didn’t even know existed until a couple years ago; and therefore had never had the chance to become passionate about.

Though our industry is built out of passion; passions, unfortunately, do not create the pathway to success in sponsorship. More needs to be done within the industry to define and communicate the attributes and skill sets of a successful career. In addition, the industry needs to work closer with educators and course leaders to highlight opportunities that may be overlooked, in order to help realistically hone graduate passions into a career that they love. This not to say however, that a passion for football won’t lead to success within football sponsorship – far from it. Many incredibly successful sponsorship professionals have a strong passion for the industry they work in (whether it be sport, art, or music). But it is experience in doing sponsorship – regardless of industry – that will prevail. As Gladwell states in Outliers: The Story of Success ‘You need 10,000 hours of experience to become an expert’.

You better get started.

Breaking into the Sponsorship Industry 1st August, 2013

I had a drink with two interns this week – one who had just secured an internship with Slingshot and the other, someone who desperately wanted to intern at Slingshot and even offered to work on the weekends to beat out the other competition. Both evenings were relatively the same – a history on their experience outside of university, their difficulties in trying to gain credibility within the industry, and of course, the ‘chicken or the egg’ scenario – needing experience to get a job, but needing a job to get experience.

Ironically enough, I applied to a number of sponsorship agencies in the industry before I started Slingshot Sponsorship. But alas, to no avail.. Not even a phone call. Not even an email reply acknowledging that I had applied. And I had experience in sponsorship. Maybe not the typical experience you’d see – much of my sponsorship experience was pieced around commercial marketing rather than sports sponsorship – but experience all the same.

Fortunately for me, my lack of the typical sponsorship agency experience has given me the opportunity to view the sponsorship model in a different light, which has been our key USP within the agency. What is more, my past experience has taught me first-hand how difficult it really is for people trying to enter the sponsorship industry.

I was recently at a sponsorship conference where some of the debate centred on the sponsorship industry not attracting the best people – which I don’t agree with. I believe the problem lies with the people hiring, rather than the people applying. We should be focussing our attention on who we hire rather than who we attract. Having worked within direct marketing (mail, email, data, etc) I know first-hand how difficult it is to attract graduates to these industries. By comparison, sponsorship is an extremely sexy industry. Although it may not have the Mad Men appeal of advertising, it does have all the job perks (backstage pass anyone?). And sport always is an attraction.

The onus I feel is on the hirers to think outside the box. Take a chance. You never know, someone might just surprise you. I know I did.

Community Sponsorship Done Well – TMD Properties Sponsors St Michael’s School Association 17th July, 2013

I recently came across the following sign in Highgate the other day. It was pretty impressive upon first glance; however, after more research, I was so impressed by TMD’s sponsorship that I’ve dedicated a whole blog to it.

Community sponsorship is often overlooked, assumed by companies that it is merely a fundraising portion of their CSR. However, if managed and promoted well, sponsorship of the community you work in can provide significant value for very little cost. In the case of TMD Properties, they were able to generate enormous goodwill amongst their audience – young families looking to rent or purchase properties in Highgate. Sponsoring St Michael’s School Association not only got them directly in front of their target audience, but also enabled them to showcase their support to the wider community on all the sales and letting boards throughout the borough. Although their boards would have been up anyways – sponsorship has made them stand out from the crowd, cleverly using contrasting colours to ensure that the signs resonate.

The sponsorship has even gone further to include social media and press releases. TMD include all their involvement with St Michael’s School Association within their Facebook page and Twitter feed – ensuring their involvement is recognised by communities further afield.

Following TMD Properties’ great example, I have put together my top 5 tips for brands looking to get involved with community sponsorship:

Think of your audience: Although sponsorship of your community generates goodwill, it is important to remember who your customers are. Although it probably would have been a great thing to sponsor the old folks home in Highgate, it would unlikely generate a return on their investment.
Utilise your channels: Small sponsorship can make a big impact if you ensure that your sponsorship is integrated within all your marketing and communication. Social media is an easy win because it is free; however, think one step beyond this and integrate your involvement internally as well in order to create staff affinity for your company.
Get involved: Don’t just give money and expect an immediate return. TMD Properties actively got involved and attended the events that St Michael’s School Association put on – highlighting that their sponsorship wasn’t purely whitewash.
Think beyond money: Financial investment is typical the request from community sponsorships; however, what they likely don’t realise is how you might be able to help them further in ways that don’t cost you anything. For example, the local craft fair may need a venue on Saturday to work on projects that they are selling on Sunday – if your office is available (and doesn’t mind a bit of glitter), this could be a great partnership and a huge benefit to them.
Have fun: Community sponsorship is all about your community – so get out there, have fun, and create relationships that last!

Slingshot Sponsorship Announced as National Business Awards Finalist for the New Business of the Year Category 16th July, 2013

Slingshot Sponsorship has been shortlisted for the New Business of the Year Award at this year’s National Business Awards. Slingshot Sponsorship is a new breed of sponsorship agency – with their head office in London, they work across the globe helping clients develop strategies that maximise the commercial potential through partnerships.

The extremely prestigious awards recognises the best in business with winners being revealed at the National Business Awards gala dinner held on 12 November in London.

Michael Hayman, Co-founder, Start-Up Britain who is the judge for the category said: “Slingshot Sponsorship stands out as a disruptive force in their sector. Demonstrating solid growth and a clear commitment to CSR, it impresses as a determinedly entrepreneurial business, working with blue-chip clients.”The extremely prestigious awards recognises the best in business with winners being revealed at the National Business Awards gala dinner held on 12 November in London.

Jackie Fast, Managing Director of Slingshot Sponsorship said: “We are absolutely thrilled to be shortlisted at the National Business Awards. We are an agency that always strives to deliver more in everything that we do and it is an honour to be recognised for all our team’s hard work. It is especially relevant in the business sector where commercial partnerships are becoming vital to organisations in light of public funding cuts and the recent economic climate.”

Over 150 of Britain’s leading businesses, business leaders and social enterprises have today been revealed as finalists for the 2013 National Business Awards. The finalists announced today represent 15 categories including the Croner Employer of the Year, the Smith & Williamson Entrepreneur of the Year and Santander Small to Medium-Sized Business of the Year. The Leader of the Year finalists and Decade of Excellence winner will be announced over the coming months.

This year’s shortlisted businesses have a collective global turnover of more than £341 billion, covering activities as diverse as telecoms, construction, entertainment, publishing and manufacturing. One fifth of the finalists turnover more than £1 billion annually – with the lowest turnover peaking at £30k and highest reaching £55 billion. They represent regions from all over Britain including London, Exeter, Glasgow and Cardiff.

Dame Helen Alexander, Chair of judges for the National Business Awards, said: “These organisations and leaders represent exceptional success over the past year. The environment has been tough; these are the firms leading the way to growth. There’s a broad spectrum of sectors represented, as well as organisations of very different sizes, reflecting the diversity of British business and the vitality of our economy. Congratulations to all our finalists.”

Alex Evans, Programme Director of the National Business Awards said: “The quality of finalists is outstanding every year – with Britain’s most promising new businesses and most impactful social enterprises recognised alongside top performing SMEs and the most sustainable mid market and large cap firms.”

www.nationalbusinessawards.co.uk

GB Taekwondo appoints Slingshot Sponsorship to develop sponsorship strategy and sales for their Road to Rio Olympics 11th July, 2013

GB Taekwondo, one of the biggest sporting stars to come out of London 2012, has appointed sponsorship specialist marketing agency Slingshot Sponsorship to develop strategy and sales across their commercial properties in the lead up to the Rio Olympics. The initial activity will allow corporate sponsors to grow with the sport both nationally as well as abroad.

GB Taekwondo’s enormous success of gaining two medals from only four athletes at the London Olympics has presented a huge return for Team GB and an incredible opportunity for brands to align with. The 2000 year old martial art has over 60 million participants worldwide with over 100,000 in the UK alone. Slingshot Sponsorship will be working with GB Taekwondo to identify and uncover their assets in order to connect with this diverse sporting audience – contributing to a stronger engagement with brands during the growth of the sport in the lead up to Rio Olympics.

Steve Flynn, Operations Director at GB Taekwondo said:

We are really pleased to be working with Slingshot Sponsorship who are helping us showcase the sponsorship opportunities within our sport. Their expertise will allow us to maximise our commercial potential and amplify our activity – both with the sponsors we are currently are working with as well as identifying new commercial partners that will help us achieve our objectives in the lead up to Rio.

Jackie Fast, MD at Slingshot Sponsorship said:

We are thrilled that GB Taekwondo have chosen us as their sponsorship agency. Sitting at such a vital turning point coming out of London 2012, we cannot wait to start helping them develop and grow their commercial potential – creating relationships that will help them realise their Rio Olympic goals.

I went to Glastonbury and all I got was this crappy T-shirt 1st July, 2013

As another Glastonbury passes, it makes me think of all of the sponsorship activity that will be taking place over the next couple of months. While much of it still remains the same (or the same but packaged up in a different box), I have noticed a shift into better commercialisation by the rights owner and more tailored sponsorship activation by brands compared to last year.

One area that is undeniably a huge commercial opportunity for festivals is merchandise and licensing. This is a completely untapped market and one that is bountiful. Although no ‘Hard Rock Cafe’, the festival ‘brand’ is growing through social engagement and digital interaction. The offshoot benefit of a larger audience is the commercial potential through new revenue streams.

For such a global, well-respected and creatively-driven festival, I was surprised this wasn’t reflected in their merchandise choices (found here). Although, their approach is not dissimilar to many of the other UK festivals, highlighting that their resource allocations are based predominantly on core revenues of ticketing, pouring rights, and sponsorship. It still is surprising that the pinnacle of the UK festival experience, Glastonbury, hasn’t taken the time to create truly memorable merchandise to combine with the memorable experiences of the festival.

Which leads me on to how smaller musical festivals can be a much better sponsorship platform to create brand experiences and conversations due to their drive of innovation and flexibility. One of our clients Outlook Festival recently launched their Outlook X Majestic Athletic Varsity Jackets this year in collaboration with festival sponsor Majestic (check them out here). Used for Outlook Festival competition giveaways, special VIPs, and of course for purchase – this limited edition jacket something you’d actually purchase – and something I’d much rather walk away with compared to the Glastonbury coffee mug.

Some of Slingshot Sponsorship’s key tips for creating merchandise partnerships with music festivals:

Think of your audience and what they want to buy
Create something completely unique
Allow for creative input from all parties and, when appropriate, your festival go-ers
Think big

"I Never Knew Sponsorship Agencies Existed…" 13th May, 2013

I recently attended an event last week in the events industry. In a slightly different frame of mind than usual (buying rather than selling) I found myself suppressing my usual routine of championing our agency and our unique approach to the rest of the world. However, I did get caught in a conversation in which I was explaining what we did to an attendee of the event. It took somewhat longer than usual, and even in layman’s terms, he still didn’t understand what a sponsorship agency was. Finally, when I equated it to the people who are responsible for putting ‘those logos you see on football shirts’ I could tell that the light bulb sparked. The thought of having to explain what it is we actually do would have led, I am sure, to a blank face and awkward shuffle toward the alcohol – so I left it at that…

Coming off of the back of the ESA Summit, and having read other articles postulating how the sponsorship industry lacks the ability to PR themselves, this comment really made me think about our industry and what the general public thinks of sponsorship, sponsorship agencies, and everyone in between. One specific comment made at the ESA Summit particularly stood out, it addressed the notion that the industry needs to provide fans and spectators a voice – considering sponsorship is supposed to add value to their experience and form a core part of the win-win-win best practice that our industry promotes. And now having first-hand experience with someone who works in events, but doesn’t even know what a sponsorship industry does, let alone the fact that they exist is, quite frankly, astonishing.

At Slingshot, we believe that understanding the commercial benefits of sponsorship and partnerships is vital to business growth in this shifting market. As an industry we really need to encourage education on its true benefits not just for our own industry’s sake, but for the sake of utilising these practices to build a successful economy.

What Newsagents & Hairdressers have to do with Sponsorship Sales 16th April, 2013

I love the Newsagent – the whole Slingshot Sponsorship office pop around to the one on Upper Street at least twice a day. Mr Ozza owns the shop, we love him – and I especially love that he sells my favourite Fizzy Blue Bottle sweets at the counter, a real delicacy around these parts.

However, whenever I pop in I tend to buy the same thing – water, Diet Coke, sweets. The orders rarely change and no matter how much value Mr Ozza provides us with his convenience, we will never increase our purchase. For this reason, Mr Ozza’s newsagent is a transactional sale. It is based on a ‘need’ (3pm sugar fix) and delivered very quickly and efficiently.

Now compare this type of sale to your hairdresser. You spend months, years even, finding the perfect hairdresser. Once you have found them, you indulge in the luxury (or if you are male, then perhaps you are just happy to find someone who doesn’t cut your hair where you end up looking like a 12 year old).

Either way, you are happy.

You then start building a relationship with your hairdresser and when they recommend a product the next time you come in – you buy it. When you discover that the product works you start to view your hairdresser as credible and someone who knows what you want/need. Years go by and you start to realise that not only have you purchased all your hair products from one salon based upon your hairdressers’ tips, you’ve started eating out and going to the new pubs they recommend. This is a relational sale. It is a sales process which increases with time, trust and ability to deliver.

Now there are places for transactional sales within sponsorship – tactical sales and deals that work for specific reasons that don’t need investment. However, many should aspire to create a more relational model with their sponsorship sales.

And similar to the hairdresser, here are my 5 tips for creating a relational sponsorship sale:

If it is a new platform, be expected to provide credibility elsewhere – proof that your event truly is what you claim it is.
Like a shampoo sample, brands will be unwilling to invest in your sponsorship platform for millions if they haven’t attended the event or even tried sponsorship on a smaller level.
Be likeable and professional – I hate a moody hairdresser and similarly I hate working with people that I don’t see eye to eye with. Most brands are in it for the long haul with sponsorship, if they don’t think you are capable or if they just plain don’t like you, it doesn’t encourage investing in you.
Know the up sell – be prepared for when the sponsorship does work – be sure to be clear on additional ways in which the brand is able to get involved and gain more benefits.
Know your client – if you don’t know what they want, how are you going to sell anything?

Why Big ATL Agencies Can’t Crunch Numbers 5th April, 2013

Walking into a fabulous advertising agency the other day, I will admit, I was envious. Envious of the beautiful office building, elevators, stairwell, art work, great tea – even the receptionist wooed us with her timely wit. There were whispers of “…and they also have a free cafeteria!” when we entered the large doors into a reception area that is bigger than the entire Slingshot office. It was hard not to be smacked in the face by success the moment you walked through the front door.

And yet, the meeting with over 15 bright young things – planners, account managers and creatives left me feeling slightly underwhelmed when it came to brainstorming ideas for driving additional revenue to a project and it got me thinking about sponsorship and the future of the agency model (which I will also be discussing at the ESA Summit, read more here). Now I am not saying that all creative media and marketing agencies and the people that work in them can’t understand sponsorship – many of them can. The point really is that they don’t have to. They don’t spend an agonising amount of the day working client budgets to meet targets through multiple revenue streams. They don’t spend hours on the phone negotiating media rights and convincing brands to provide free products in order to drive the event forward. They don’t have midnight calls with overseas clients on how to then find a way to pay for the distribution of said product. Unfortunately, this is my job. Again, cue my envy.

Yet envy aside, I have come to the conclusion that the thousands of hours I have spent agonising over a successful route has inevitably given me a very strong aptitude for understanding how to generate revenue – effectively and sustainably. These hours spent have gifted me the ability to valuate a platform fairly quickly, just by a call, because this is what I do – day in and day out.

I can whole heartedly admit that I cannot come up with the creative idea. I cannot even draw stick people properly. Of course, I recognise the huge value in the idea and implementation – but I think the tables are turning.

The Mad Men days where creativity is king is difficult to validate in an era where ‘Charlie Bit My Finger’ has over 520 million views. Where budget cuts, the economic recession, and overall increased scrutiny on budgets continues to rise. I think it is time to recognise that it is now the era of ROI.

As I am in the business of ROI, I am sure you’d expect me to say that. However, look around you – it really is everywhere. From the daily Groupons, to free content on ITV player, value is something we are all looking for and delivering that value can be a difficult challenge.

I truly believe the way forward is through building partnerships – creating true synergies between organisations, understanding all parties objectives, and working together to reap mutual rewards. The shift has already begun with major brands pulling funding out of the major kit deals in favour of smaller, more integrated campaigns and partnerships. It can also be seen with the huge success of our own agency, which has doubled in the last year purely through the increase of new incoming business. People are beginning to recognise (whether forced or not) the value of building lasting commercial partnerships.

Now I am not claiming that I am the next Sir Martin Sorrell, David Ogilvy, or William Bernbach – but I do see a future that features free meals for Slingshot employees.

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