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.
This paradigm shift requires sponsors and sport marketers to rethink their approach to consumer engagement. Gone are the days that just slapping a logo onto a jersey or on the sidewalls, brands now need to go beyond to appeal to a consumer’s deeper need states. Passion for a sport or a team may not translate into passion for a brand unless there is an overlap between the consumer’s values and the brand’s values.