How sponsorships and partnerships can drive business growth: the key to a successful sponsorship or partnership

Over my 20+ years, I have negotiated and managed numerous sponsorships, including many naming rights partnerships. Throughout this time, I have identified my favorite partners, primarily because they consistently worked hard to align the benefits they provided with the organisation's actual needs. These partners also valued honest and transparent relationships, which was important to me but above this putting the company first.

I've had the privilege of working with some of the largest naming rights holders since my agency days, and it's always been one of my favorite aspects of the job. Not only did it come with perks such as attending the Australian Open, Supercars and many AFL games (I'm an unbelievably huge Bloods supporter), but it also allowed me to witness firsthand how these holders prioritise the attendee experience.

The key reasons why strategic partnerships work:

Emotional Brand Connection: This emotional connection can lead to increased brand affinity, loyalty and a stronger bond between your brand and your customers.

Engaging Customer Experiences: Directly engage your customers through activations and exclusive experiences, strengthening your relationship.

Enhanced Brand Visibility: Prominent logo placement and media exposure increases brand awareness.

Targeted Marketing: Reach your specific demographic aligned with the sport. This can be through both their platforms and your owned and earned channels. 

Credibility and Trust: Association with reputable sports organisations enhances brand reliability.

According to a study conducted by Nielsen Sports, 85% of sports fans have a more positive perception of a brand when it sponsors their favorite team or athlete . This targeted approach enables companies to maximise their marketing investment and boost turnover and brand loyalty.

In summary: partnerships that make strategic sense for your brand offer a  powerful platform to enhance brand visibility, engage your target audience, build an emotional connection with your audience and ultimately drive business success through improved marketing and customer experiences.

Next steps:

• Look at the brands that you currently sponsor and really question if they align to your business and marketing objectives. Just because they have worked in the past for your business needs, their offering or level of engagement may have changed. 

• Look at any results that have been shared to see the impact they are making on your brand awareness and engagement.

• Speak with your sales teams and your customers  to see their qualitative feedback of recent experiences. This is really important. 

• Work with your marketing team to make sure you are getting the most out of your partnerships and continue to evaluate and adjust where needed. These partnerships should always align to your business priorities and always be talking to your target audience. 

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