In an industry where communication, networking, and knowledge of the latest trends and practices is essential to success, iSportconnect gives its members exactly that. Today, we chat to the man behind it all: Sree Varma, Founder and CEO of the largest global private network of Sports Business Executives. If there's one man that may have the inside scoop into where this industry is headed, it's him.
It’s March and that means one thing: March Madness baby! Not only is this an exciting time for the 64 teams vying for their spot as champion, but corporations and companies are also vying for the top spot in sponsorship. Given that the 2017 NCAA March Madness tournament was the most watched in 24 years, paired with record-setting digital consumption, this competition for sponsorship means more than ever. It may be only the beginning, but here are our Final Four predictions for the 2018 NCAA’s March Madness Tournament: Sponsorship Edition.
Jason Smith is the VP of Corporate Sponsorships & Events at Mountain America Credit Union, a Utah-based credit union that is making big waves in the sponsorship industry. In this week’s edition of “Sponsorship Essentials” he speaks towards his experiences on both the property and corporate sides, the assets that a company should fight for to have a successful sponsorship, and the skills that have gotten him to where he is today.
In this week's "Sponsorship Essentials: Featured Deal of the Week", we're looking at the unprecedented deal struck between the University of Southern California and United Airlines. Announced at the end of January, United Airlines purchased the naming rights for the Los Angeles Memorial Coliseum for $69 million over 16 years. This is a monumental deal, and we want to know what you think!
With over 25 years of global experience, Donna Wittmann is one of the leading technology executives within the industry. In this week’s edition of “Sponsorship Essentials,” she speaks towards how technology is transforming the ways in which the sports industry operates, and the challenges that come with that. We also touch on how she got to where she is today, an accomplishment we could pick up tips from!
This week in “Sponsorship Essentials”, we reach across the pond to learn a little bit more about the ever-changing sponsorship market in the cricket world. Gareth Roberts is the Commercial Director at Warwickshire County Cricket Club (WCCC) and Edgbaston Stadium, and I spoke with him about his experience in the industry, where the challenges lie, and how he plans to adapt to them. All signs point to some big things on the horizon for Gareth and the Edgbaston team.
Dan Dillon is the CMO of Arizona State University with an extensive marketing background in the restaurant and consumer world. In Part 2 of “Sponsorship Essentials”, he speaks towards how he got his start, his experience in this industry, and how ASU is changing the way collegiate properties look at branding and sponsorship. With ASU, it’s not merely a transaction, but a deeper partnership. Looking at the way ASU’s branding and marketing is going, other universities may want to follow suit.
Thomas Wills is the President and CEO of Bonham/Wills & Associates. By 30, he was heading up one of the bigger players in the sponsorship, valuation, and negotiating world. Today, in part one in our series, "Sponsorship Essentials", he sits down with us and lends us valuable insight into the sponsorship and naming rights industry, (all done in 10 minutes or less).
The naming rights industry has typically seen its world dominated by the same types of corporations again and again: automotive corporations, telecommunications corporations, and the big banks, among others. The result is arenas and stadiums across the United States bearing household names that are recognized across the country, and the benefits for both parties involved in those naming rights deals are clear. Recently, however, a new kind of business has stepped onto the scene and is taking the naming rights world by storm.
In our last post, we examined a few instances of brands dealing with the fallout emerging from their sponsored properties falling on the wrong side of law and/or public opinion. This time, let’s take a look at the other side and see what properties do when the brand that’s sponsoring them meets the same fate.
Ryan Lochte being dropped by four of his major sponsors makes him the latest in a string of high profile athletes and bodies that have seen premature ends to their sponsorship agreements. Today’s post analyzes some of the incidents from the recent past and looks at some strategies that brands can employ in order to mitigate the damage arising from transgressions from their endorsers.
The first companies to experiment with Big Data are household names within the e-com world. Initial small scale projects were developed by the likes of Google, LinkedIn and E-Bay to improve analytic models on a trial basis. They used these trials to identify how and if they could make improvements based on introducing new data sources.
Emotional connection when creating an advertisement has become increasingly important. As the public consumption has reached an all-time high, the subconscious has adapted to blocking out many forms of advertising to the point where brand recognition is comparable to breathing for our younger generations. How often do we really remember the advertisements that we see? What captivates us these days? Innovation and emotion are the 2 main factors we recognise in Virgin mobiles Usain Bolt add below.
Over the years, municipal and public facilities such as parks, beaches and sporting facilities have witnessed a decline in government funding which as a result has led to difficulties in conducting maintenance and upkeep.
In order to combat this, properties have historically looked towards donors and more recently, corporate sponsors. This brings up an interesting debate about over-corporatization, with commentators on both sides of the fence making their opinions heard, including prominent personalities like Bill Maher in this video.
A front runner within the wearable side of technologies is Catapult. It has been a breakthrough company with major investors like Mark Cuban, and multinational brands Adidas, Reebok and Nike. This micro-sensor (essentially) is currently utilised by over 300 teams around the globe and it provides a more analytical perspective in “real-time”. When partnered with the visual assistance such as Sport VU. This allows sports scientists access to a full breakdown of the game, player performance, coordination and a series of algorithms quantifying player interactions generated by the raw data.
The Negotiation phase is one of the most critical stages when forming a successful partnership. When you think of the meaning behind Negotiation, some may tend to lean towards the idea of a “win/loose” outcome. This idea may indeed be relevant in the real estate market, automotive sales or company buyouts/takeovers. But when it comes to creating a long term partnership within the sponsorship realm, no matter what side of the table you are sitting on, it is imperative that the “negotiation process” is a discussion utilized to build the strong foundation needed to support the relationship for years to come.
Naming rights occupy the highest point on the sponsorship pyramid and typically carry with them a number of major benefits for all parties included. This is why we will continue to see these investments increase across industry categories, sports and entertainment venues, events and properties around the globe.
Though the origin of naming rights may be debated, certainly a watershed moment in their development was the 1972-73 naming rights agreement between Rich Products, a Buffalo food manufacturer, and Erie County which enabled the former to put its name on a new football stadium in Orchard Park, New York, the home of the National Football League’s Buffalo Bills. The agreement called for Rich Foods to pay $1.5 million over 25 years in exchange for signage at the stadium and a commercial association with the franchise.