Category: Blog


Be The ‘Right’ Holder 21st March, 2017

In today’s age, we are witnessing industries becoming ever more cluttered with brands and consumers are spoilt for choice. With the level of competition skyrocketing; brands need to find new and innovative ways of differentiating.

 

As the market becomes increasingly saturated, trying to identify something distinct about a brand is blurred; yet deriving something unique for a brand is crucial and is the underlying principle designed to drive their success. Distinguishing that certain something about an organisation represents the biggest sales tool in their arsenal – the USP.

 

Brands are now utilising the latest innovations in sponsorship, as opposed to standard forms of marketing, to create emotional connections with their target audience, creating sustainable and long-lasting relationships.

 

Rights holders need to be aware of this and use their platforms as a gateway to helping brands accomplish their goals, providing opportunities for brands to leverage themselves from their competitors. To do this rights holders must invest time into identifying the key ways they can help a brand differentiate and reach their business objectives, which means prospecting should be more targeted than ever.

 

It is therefore paramount that rights holders promote themselves as the property that will help differentiate the brand from their competitors and become the solution, not an option, in providing brands with the perfect opportunity to stand out from the crowd, leading to their further success.


Teamwork Won’t Make The Dream Work 1st March, 2017

The next innovation in football sponsorship has arrived – more advertising space. Shirt sleeve sponsors will likely be on show from the start of the 2017/18 season and some reports have suggested that this space is valued at 20% of that of a main kit sponsor. Think of that what you will, but what is actually interesting about this revelation is the news that an agency has brokered an aggregated deal with up to ten Premier League clubs to sell this space to a single sponsor.

In a sport that generally divides, it appears a selection of Premier League clubs have decided to unite for a potential quick-fire commercial gain. This wouldn’t be the first time that one brand has been associated with multiple Premier League clubs, with brands such as Mansion.com, Dafabet, Europcar and bet365 currently spreading their allegiance, but a deal with ten clubs teaming up to take a share of the spoils would be a first.

In the EFL Championship earlier this year, 888sport launched an interesting partnership as the first main sponsor to simultaneously sponsor four teams (Birmingham City, Brentford, Nottingham Forest and Preston North End), which saw the company roll out a series of activities as part of the 888sport ‘Fans First Campaign’.

To add to this, Sure recently signed a multi-club sponsorship deal and became official partners with Premier League clubs Chelsea, Everton and Southampton, brokering an official ambassador from each team separately.

The difference with these two examples is that on each occasion the brand would have strategically selected their partners based on a multitude of commercial reasons, whereas the potential Premier League shirt sleeve deal with such a variety of clubs will arguably be far less strategic and unsustainable.

The type of brand to take up such an offer likely won’t be interested in the success of the teams’ performance or driving engagement with fans, but will simply look to capitalise on the Premier League media machine to significantly improve its brand awareness.

Whether a deal can be struck or not, only time will tell, but the real winners here will be the Premier League clubs who decide to commit their shirt sleeve sponsorship efforts into pursuing a long term strategic partnership with a brand.


Two things you must do to Master the Art of Sponsorship Sales 29th May, 2018

You may or may not realise this, but you’ve worked in sales all your life – in fact, every single one of us have.

It may be selling an idea (why your parents ought to have helped pay for your first car), a story (a white lie about why you were late for work when the trains were actually running on time) or even yourself, when it comes to that big job interview.

The real difference comes down to when sales is done in a professional working environment with real benefits to be had – financial or otherwise. Indeed, it’s important to note first and foremost that sales itself isn’t actually an art, despite this being the common understanding. Rather, it’s a skill that anyone can learn, improve upon and ultimately master, should they follow the right steps.

Mastering the art of complete awareness to the world around you is the recipe to a successful life in sales. With this in mind, these are Slingshot Sponsorship’s top two steps to becoming a highly effective sponsorship salesperson.

1) Dedicate yourself to details, details and more details

Paying attention to every detail, shift and trend in the marketplace you’re dedicated to is vital to understanding exactly what you’re selling and how best to achieve it. It’s what businesses strive for in order to remain one step ahead of both the game and their competitors, so having this at the forefront of your methods is crucial.

Why this is important: In order to take full advantage of the market you’re operating in, you must have a thorough understanding of how to appropriately assess and predict its dynamic change and flow.

2) Immerse yourself in your market’s world

We live in an ever-evolving world – barely a minute goes by without something happening of note, whether it’s something in the news that affects your work, or in your industry or in your specific marketplace. This means that in order to be a successful sponsorship salesperson, you simply have to immerse yourself into that industry and allow it to become your world, however daunting that may initially seem.

A good start to achieving this would be by taking action on these three easy tasks:

  • Follow every social media account relevant to the industry you’re focusing on or working within, and make it a habit to check in on the latest posts
  • Enable Google Alerts, which will notify you of any updates related to the topics you’ve assigned it to
  • Subscribe to every newsletter and magazine that is relevant to the industry, as these may help inform you on the latest wider, upcoming trends

Why this is important: It’s easy to see why dedicating yourself to your market is wholly important, but these steps will ensure you’re channelling your efforts effectively and being as efficient as possible with your time.

Why is this important in sponsorship sales?

As a sponsorship agency, it is paramount for Slingshot Sponsorship to stay on top of the latest news regarding market analysis, value of assets and current sponsorship deals. We do this by sourcing every bit of material related to our clients’ accounts and industries through every accessible and, crucially, credible source.

This provides us with enough material so that we never find ourselves on the back foot in a pitch. Rather than fluffing lines, we’ll know exactly what brands need and how to achieve their goals, in addition to it helping us sustain long-term relationships even when our clients’ events come to an annual end.

Simply put, if you fail to prepare, then prepare to fail. As the old saying goes, never bring a knife to a gunfight: knowledge acts as the bread and butter to a salesperson’s arsenal, so do your research and have constant awareness of the industry you’re selling into.

Ultimately, this is what distinguishes sales people that can close, from those who cannot.

Interested in learning more about how to get the most success in sponsorship? Follow our social media accounts for regular updates:

Slingshot Sponsorship – Facebook

Slingshot Sponsorship – Twitter

Slingshot Sponsorship – LinkedIn


When should I think about Sponsorship for an Event? 3 Ways to Maximise your chance of Securing Event Sponsors 29th May, 2018

It is the stamp of a successful event to be able to successfully attract sponsorship from brands, therefore enabling it to grow and fulfill its maximum potential.

It’s therefore unsurprising that the question most often asked by organisers is when best to approach potential sponsors for their event.

Many organisers regularly fall into the trap of leaving it too late for brand involvement and miss a golden opportunity to subsidise and support their event, as well as dramatically increasing exposure to appropriate audiences.

The Slingshot Sponsorship team are on a mission to ensure this doesn’t happen to you. So here are our top three tips to maximising your chance of securing sponsors when organising an event…

1) Think sponsorship from the start

A successful sponsorship involves ways in which a brand can be interwoven throughout all aspects of the event – so engage sponsors through the entire process.

From initial communications and marketing, right through to ticket sales and the event itself, all stages are valuable assets that sponsors can utilise and you can monetise. Through connecting with sponsors in the planning stage you can create your event with bespoke brand opportunities for each sponsor, and activate them properly, given that you have the time to do so.

Bringing on a new sponsor late in the game can often seem rushed and doesn’t leave a sponsor feeling like they got the most out of their investment.

Key takeaway: The sooner you sign a sponsor, the more they can integrate with your event – and the more they will pay for it.

2) Don’t just approach any brand you can think of

When approaching sponsors for your event, it’s vital to stop and think. Why this particular brand? Can they add value to my event? Can they provide relevant products? Even more importantly, what can I offer them that they can’t get anywhere else?

You must be able to justify why your event will benefit their brand because at the end of the day, sponsorship is not charity – it’s a partnership. So don’t just approach any brand you may have contacts with.

The key is to approach brands that will resonate with your event’s audience, as corporate sponsorship is essentially a form of advertising for the brand. So you need to be able to show how the brand can not only reap the benefits at the point of sale, but also throughout the event lifecycle and beyond. This will help ensure they renew and upgrade on investment, continuing their support for years to come as you grow your event.

Key takeaway: Focusing on the most relevant sponsorship brands to your audience is vital in ensuring a successful partnership throughout the entire event experience and beyond.

3) Don’t pull a price out of thin air

One of the most common mistakes organisers make when approaching sponsors is simply not valuing their assets properly.

Knowing the true value of what you are offering a sponsor is crucial because no brand will pay for something they don’t believe they will get a return on. This is doubly important once you recognise that the brands you approach see sponsorship proposals every day and they’ll be able to tell if your offering is worth the investment you are asking for.

It’s important to think practically and logically when it comes to event sponsorship. For example, if you need £100,000 for your event but you only have £25,000 worth of sponsor assets, you wouldn’t just suddenly charge them £100,000. Instead, you could find another three sponsors willing to pay another £25,000, thus spreading out value to cover the event’s costs. Think about it: would you pay four times the price of anything for the sake of it? Of course you wouldn’t – so you shouldn’t expect your sponsor to do so either!

Key takeaway: It’s a common mistake to scare sponsors away by overcharging them to cover costs. Instead, work to spread out sponsorship values evenly to cover costs.

We hope these three tips ensure you never let an event sponsorship opportunity pass you by in future. It always helps to put yourself in the brand’s shoes and make sure you feel as if they’re being offered strong, relevant exposure to a suitable audience throughout an event’s lifecycle at a price that’s honest and provides real value. This is the secret to maximising your chance of securing sponsors for your event.

Interested in learning more about how to get the most success in sponsorship? Follow our social media accounts for regular updates:

Slingshot Sponsorship – Facebook

Slingshot Sponsorship – Twitter

Slingshot Sponsorship – LinkedIn


5 Things I Learned On Necker Island 22nd February, 2017

We recently completed our first year of sponsorship for the Extreme Tech Challenge – the world’s largest startup competition highlighting companies that are literally changing the world, which culminated in a very exciting XTC Finals on Sir Richard Branson’s Necker Island on February 2nd.  Here are some of the things I learned while surrounded with the world’s most impressive and forward-thinking tech start-ups:

 

1.    Sponsors like the sun.  We have worked with many events all across the world, but turns out when the sun shines, sponsors shine too.  Will make more of a note to take on more clients that have tropical destinations for the future.

 

2.    Small numbers mean big opportunities.  Due to the size of Necker Island, the XTC Finals is limited to 100 attendees.  Usually with sponsorship, the bigger the audience, the more valuable the rights fee.  However, in this case, you have the actual opportunity to really meet and have meaningful conversations with everyone.  Rather than being pushed to a table at an Awards ceremony, real friendships were made and business was being done because it was easy to do so.

 

3.    Remoteness creates more sponsor engagement.  Because the British Virgin Islands are so remote (it took me 20 hours to get there with two flights, one ferry, and a ride in the back of a pickup truck) most people wanted things to do, and one way or another, you ended up running into people that were at the event throughout the week.  It became a mini community where tech and entrepreneurship met at the beach over Painkillers (the local drink) and ran into each other in truck taxis and ferries all over the island.

 

4.    The kids are alright.  Of the three finalists, two were under 25.  When you look at the actual impact of their companies on the world (Cresilon is a revolutionary material that stops bleeds in seconds and ReDeTec has made 3D printing accessible and sustainable), it blows your mind.  This really is the future, and it’s pretty damn exciting.

 

5.    Sponsorship has the power to create life changing experiences.  The most unforgettable moment was witnessing the power of sponsorship on individuals.  As part of sponsor iTutor Group’s activation, they took 10 of the top female CEOs in Asia to the XTC Finals on a super yacht.  Super yacht aside, the women were so incredible in their own right and at every point throughout the day they talked business – to each other, to the sponsor, and even to me.  More incredible still was that many of the women hadn’t even been in the water before – so it became a week of overcoming fears, a week of firsts, and most importantly, a week of growth.  The fact that this was delivered as part of a sponsor activation is what makes it so meaningful and impactful.  Rather than just bask in the glory of being a sponsor, iTutor Group made a real impact in their own community and in the lives of people they are wanting to champion in their country.

 

I’d definitely encourage you to have a look at some of the entries from our competition this year.  And if you want more Necker Island photos, you can view them on my Instagram.


Standing Out from the Crowd 7th February, 2017

The digital music streaming industry has become extremely crowded in recent years with several leading companies vying for market share and growth. In order to differentiate themselves, the major competitors are choosing ever varying strategies, with sponsorship emerging as one of the most innovative.

As of September 2016 over 100 Million users worldwide paid for a music streaming service, a figure that is constantly growing. The most streamed songs on Spotify, the world leader in terms of paid music streaming services, have over 900 million listens. Spotify, along with Apple Music, Tidal and Pandora (US only) have emerged as market leaders with others such as Deezer and Soundcloud also competing for the same substantial audience.

The key way these companies have tried to differentiate so far is through unique content. Tidal offer exclusive, high quality music videos. Artist exclusivity is also a tactic used by Tidal, as well as Apple Music, while Spotify has concentrated on having the largest offering.

Deezer has recently adopted a new tactic of differentiating through sponsorship. Deezer, a French based company with 6 million users worldwide, has partnered with Manchester United Football Club and Barcelona Football Club as “Official Music Partner.”

Traditionally Deezer has relied on B2B deals to increase its user base through partnerships with mobile networks. This new approach showcases Deezer adopting sponsorship as a key part of their marketing and expansion strategy. Deezer will appeal directly to consumers, encouraging them to download the app out of choice, rather than receive it through a tie in.

This innovative partnership with football teams works particularly well given the strong link between sports fans and music fans.  Whether unveiling a new player with the help of a musician, as Manchester United, Adidas and Stormzy recently did, or the frequent appearance of new bands on popular TV show Soccer AM.

Deezer are guaranteed to meaningfully engage this audience as players will create new playlists which fans can download. Deezer will also be responsible for the music on match day where further activation and consumer engagement will be possible. Deezer will not only benefit from the direct access to fans, but association as the music streaming service for sports fans.

Deezer are attempting to open a whole new channel to reach consumers, purely through sponsorship. Of course, Deezer’s competitors may choose to replicate this strategy, but Deezer’s imagination and creativity in using sponsorship as a differentiation tool gives them first mover advantage and a perception of originality that is crucial in such a competitive market. This is a demonstration of the power of sponsorship when seeking to stand out from the crowd.


How to Write a Killer Sponsorship Proposal 10th April, 2018

How important is a sponsorship proposal?

Once you’ve had a call with a potential sponsor, assuming that call goes well, they will likely ask you to send over a sponsorship proposal. The sponsorship proposal you send them is hugely important.

A great sponsorship proposal gets the client instantly engaged. They should be excited to read it. It should get them thinking about how fantastic the sponsorship could be for their brand.

If the sponsorship proposal isn’t up to scratch, it’s a wasted opportunity. If the content and presentation of the proposal don’t do the opportunity justice, you’ve got no hope of securing the sponsorship deal.

It’s important to remember that the sponsorship proposal will be shared internally with decision makers and that you won’t be there to present it. The sponsorship proposal has to stand on its own two feet. If it’s unclear or confusing, the people reading it will quickly switch off and dismiss the opportunity.

There are two key parts of a sponsorship proposal that must be top notch and work well together: content and design. Here’s how to get them both right…

Content
Be clear

The content should be clear and to the point. As we’ve said, you won’t be there to explain what things mean so you need to ensure the proposal answers questions, rather than creating them.

Be concise

The proposal needs to give the brand the information they want, but don’t go overboard and fill it with a million figures and pages of flowing copy. Be clear and get straight to the point. Assume that the person reading it is having a busy day. If there is even one part of the proposal that could let their mind wander, change it up or ditch that part completely.

Focus on the sponsor

The focus of the proposal should always be on the brand and how the sponsorship opportunity can help them. Consider their objectives and ensure every part of the proposal focuses on them above all else.

Tailor it to the sponsor

To do that, you’ll need to tailor the proposal to the individual brand. If you can, ask them about their business and their objectives. If that’s not possible, do your research. Your sponsorship proposal needs to show them how the sponsorship opportunity can help them achieve their business objectives.

What if you’re pitching the same proposal to multiple brands? Preparing tailored sponsorship proposals will take longer than sending one generic one to 10 different brands, but it will be so worth the effort. Think of it like when you’re applying for a job. You can send a generic application to 30 companies in the space of an hour, but you’re unlikely to get many interviews. Or you can take the time to tailor your application to each company and you will see far better results.

Design

The visual element of the sponsorship proposal is just as important as the content itself. You might have the greatest information going, but if it’s poorly presented, it won’t have any impact. The sponsorship proposal should be easy to read and clearly highlight key information. There are five design tools to use when designing a sponsorship proposal. And yes, you can make use of them even if you don’t class yourself as a world class designer!

Infographics

Visual representations of data allows the information to be clearly presented and easily digested. You could use them to show things like the potential media exposure the sponsor can expect to achieve, the demographics of the audience the opportunity will target, or the anticipated social media reach. The infographic doesn’t have to be overly fancy. In fact, it’s often a case of the simpler the better. If it shows the information in a clear and easy to understand graphic, consider it job done.

Contrast

Use contrasting colours or shapes to create more impact. Use bold images to complement the text. But don’t use 33 different fonts throughout the sponsorship proposal. That’s a quick way to make it look like a four-year-old’s school project.

Repetition

Create consistency throughout the proposal by sticking to the same selection of colours and shapes throughout. Think of it like you’re decorating a room: two or three key colours that work well together is great. Add another 23 into the mix and you’ve got a right mess on your hands. If you have brand guidelines or certain colours and fonts you always use, make use of them in the sponsorship proposal.

Alignment

Make sure text and images are nicely aligned to create an easy flow. You should know exactly how you want the reader to follow each page of the proposal, and the design can make sure they do it in the order you want.

Spacing

Make sure the text and images are well spaced. Don’t try to cram things onto a page. Decide what is most important and leave the rest out, giving the key stuff room to breathe. Use hierarchy to highlight more information. Don’t tuck the most important message of the whole sponsorship in the bottom corner of the proposal in a tiny font!

Use these tips to help you create a sponsorship proposal that is too good to ignore. If you need help putting your sponsorship proposal together, drop us a line.


How and Why the Sponsorship Hunter is Changing in an Evolving Marketplace 19th July, 2018

Since the dawn of the sponsorship marketplace, rights holders have always been perceived as the “hunter” in the industry: having to approach brands directly for sponsorship in order to boost commercial revenue streams and maintain their position as a viable business.

Recent trends, however, indicate this could well be changing. As rights holders continue to innovate, develop and provide brands with high ROI and clear opportunities to achieve their corporate objectives, brands are waking up and becoming increasingly interested in what these platforms can do for them. It could very well be a case of the hunter becoming the hunted.

Sponsorship is fast becoming the most effective form of marketing. When executed correctly, it allows brands to genuinely engage and truly connect with their desired audiences – resulting in a host of short- and long-term positive outcomes for both themselves and the rights holders.

But what is the driving force behind these increasingly popular partnerships?

The importance of ROI in sponsorship

Broadly speaking, the most crucial consideration for a brand when deciding whether or not to partner with a platform or rights holder is simply the deal’s ROI. Therefore, rights holders must be able to prove to potential sponsors that they can generate or exceed a satisfactory ROI in order to have any chance of finalising a deal. Failure to do this will leave the rights holders with next to no chance of securing sponsorship.

So it is vital for rights holders to understand that in order to successfully attract brand partners, they must appreciate a “one size fits all” approach just isn’t good enough. Instead, rights holders must ensure they align their assets appropriately with their targeted brand’s ambitions.

For example, let’s imagine Brand X has an objective of increasing positive brand association across a mass audience. Understandably this will require a multi-faceted approach, particularly when compared to Brand Y – who simply wish to create specific B2B opportunities. Rights holders looking for sponsorship would never be able to give the same pitch or offer identical assets to both and expect success.

To create effective customer relations, rights holders must be able to offer the assets which will enable brands to truly engage with their audience. This means providing opportunities for brands to positively rebrand their image through relevant assets – such as social media channels and key influencers – and create sustainable long-lasting relationships.

What makes sponsorship opportunities so valuable?

The real value in sponsorship lies in how it provides brands with the potential to have a positive impact on all areas of its business. Examples of this could include on-site brand activations which generate increased sales; community engagement with leaves audiences and employees feeling worthwhile; or even social media takeovers which boost follower numbers.

These huge potential benefits put rights holders in a very strong position: owning unrivalled opportunities for brands looking to tap into a cost-effective alternative to traditional marketing which actually delivers results and ROI.

Key takeaway

As the industry moves forward, we are fast progressing to a stage where brands proactively realise the value of sponsorship when executed properly around their unique requirements. As rights holders move to master their propositions, we may soon see brands begin pitching to rights holders for access to their audience.

However, for this sponsorship pendulum to swing, rights holders must continue to invest in developing their own pitches to make them fit for purpose in the modern market. Achieve this, and the hunter could very well soon become the hunted.


My Sponsorship Predictions 2017.  23rd January, 2017

I predict a big year for sponsorship.  It’s been steadily gaining a bigger seat at the big boy table, but this year I anticipate it will accelerate at great speed.  We have seen big brands slowly start to pull away from badging and into more integrated experiential campaigns – lead by partnerships, whether in a traditional rights holder/sponsor sense or through multi-agency collaboration.  The value of Big Data is finally being understood by the ‘every brand’ and implementation of data is finally getting into Star Wars territory (A.I. and more).  As a bit of a geek myself, I am truly excited for 2017.

But at the heart of sponsorship and at the heart of sales for any business is the audience – which is why I predict 2017 to be big for our industry like never before.

Here are the trends I think we’ll see:
1.    Young blood, new ideas: Sponsorship as an industry has grown and more university students are realising that if they can’t be the next David Beckham, then they could perhaps work in football through sponsorship.  We’ve seen a significant increase in university students applying for internships and placements in the last year.  Once these kids are out and start working, I think we’ll see a shift in process with some of the more traditional sponsorship agencies – and the creative that comes out of them.

2.    Consolidation makes way for the little guy: A number of long-established sponsorship agencies got bought, sold and acquired last year (Brand Rapport, Brand Meets Brand, Generate Sponsorship) and I predict we’ll see a number of new start-ups in the sponsorship space launching in the next 6 months.

3.    Consolidation lends to campaigns rather than ad hoc projects: With a number of long-established sponsorship agencies merging/selling into larger agencies with additional disciplines, the aim will be to create a more integrated approach for their clients.  This type of business is more beneficial to clients through a long-term approach so I predict the desire of these agencies to focus on campaigns and retainers.  This may create opportunities for other agencies to scoop up the ad hoc projects throughout the year.

4.    Big brands taking on transformational sponsorship: Transformational sponsorship is sponsorship that shifts an entire business practice.  Rather than being stuck moving the needle in the marketing department, Boards are starting to realise that integrating sponsorship can impact the entire organisation.  We have had more requests from brands last year to help them integrate transformational sponsorship (or sponsorship without logos) than we have had in our 6-year history.  This trend is sure to continue.

5.    The ‘British Brand’ of sponsorship agency makes bigger waves overseas: Slingshot now has more than 35% of our retained clients headquartered overseas, with 60% of our clients international and the remaining national in the UK.  This is a radical change from a couple of years ago when we only worked with local clients on local programmes with maybe a handful of smaller international projects.  As technology makes the world smaller, there is greater opportunity to expand and grow market share elsewhere.  I believe this trend will continue with both an influx of international agencies working in the UK and UK agencies getting brought in for more international pitches.

However you look at it, I think 2017 will be a very exciting year – best of luck!

*I was 4/5 on last year’s predictions, to see last year’s predictions click here.

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