I’m always interested in the exact definitions of the words we use. Sometimes, they can be powerful in understanding the meaning behind the everyday language we use.
The definition of the word Resolution is “a firm decision to do or not to do something”.
When we make our resolutions, it comes with a decision. Apparently a firm one. The decision to make a change…or to not make a change.
Each year, we make a firm decision. We do this mostly on the personal side. But there is power in making them on the professional level as well.
This is why I love doing this episode with Rich each year. It is a deep dive into 5 resolutions you can make professionally in the sponsorship industry to move forward.
This week on The Inches podcast, Rich and I dive into 5 resolutions you can make in sports sponsorship to absolutely crush the next year.
You can listen to the full episode HERE…but as always below is a quick recap of the episode
Resolution # 1: Re-evaluate ALL of your assets and see where the value has increased.
In sponsorship, we sell advertising assets. They are vessels that help our sponsors authentically connect with our fans.
As a team, we should always be pushing our reach, connection, and value forward. Our goal is to drive company value.
The result of this is sometimes we increase the value of our reach without increasing the price we charge for it.
So resolution #1, sit down and see which assets you may be undervaluing.
It could be that your attendance has increased significantly…so that rinkboard has more value.
It could be that your social media channels now have 10% higher engagement. Those sponsored social posts have more value.
You need to understand which assets have increased in value and adjust the price. It is the easiest way to increase revenue for the year.
The biggest item here is it brings justification. You have a specific reason you are increasing the price to a sponsor. It is value-based.
Now if you are worried about pushing this price up with a current sponsor, shift to bringing long-term value with the sponsor that currently buys it. Lock in a lower price…but get them to commit to a long-term deal. Win-Win.
But resolution 1 will instantly open new revenue for your team. Sit down, understand where value is outpacing price, and adjust your sales accordingly.
Resolution # 2: Know your sponsor’s goal…ALWAYS
This seems basic, but I can’t tell you how many times this past year I have jumped on a call with a property that didn’t know the biggest goal of their sponsor’s spend.
If you don’t know the desired outcome, how can you service the client properly?
I’m not saying you can’t still close the deal. Of course, we can close a sponsor without really knowing their goal. Sometimes they buy just to buy. Sometimes they buy because they trust the relationship with you or the team.
But in either case, if you don’t know the sponsor’s goal you won’t be able to provide tangible value that they care about.
You will see fewer closes. Your sponsorship sales meetings will get harder. And your renewals will be chaotic at best.
Everything in what we do in sponsorships should revolve around bringing the desired value. We are an advertising platform. They expect to see something from their investment.
Now this may be because they just like seeing their logo in the stadium. If that is their goal, that’s fine. But know it. Make sure they hit that goal each game.
It’s as simple as asking. Ask the desired goal of the sponsorship if they are an inbounded lead. If you are outbounding to them, ask what their biggest company marketing goal is for the year.
But make a resolution that you will have a North Star goal for each sponsorship client you have. Know it, build around it, and report on it. You will see your funnel efficiency increase drastically.
Resolution # 3: Prioritize the important over the urgent
Sponsorship is a whirlwind. When the season is in full force, we are sometimes going from one task to the next. One fire to the next.
This can be hugely detrimental to your growth.
If you only spend time on the urgent, you can never make the necessary steps to the important tasks needed for growth.
Maybe it is a content campaign you want to get off the ground. Or a Brewfest event. These will never get off the ground if you are only going from one fire to the other.
So how can you remedy this? Be cutthroat about your triage.
By this, I mean every urgent task that comes your way…evaluate it. Is it actually urgent, or can it be pushed? Is there something we can fix quickly for now to help reach the same goal?
You’ll find that the urgent tasks that come across your desk aren’t as urgent as you think.
Be ruthless with your time. Make sure you aren’t cannibalizing the time needed to move your department forward with tasks that aren’t as urgent as you may think.
Resolution # 4: Look outside of sponsorships for inspiration.
In sponsorships, we do a lot of things really well. We have our tried & true campaigns and assets that simply provide results and always have.
But many times, we get into what I call ‘Sponsorship Blinders’.
We are so focused on what others in our industry are doing…we start to enter this tunnel where creativity goes out the door.
We’ve all seen it. Something gets popularized with a team and EVERY team has their version. We get FOMO on those ideas.
This creates inventory that doesn’t stand out. It creates a herd mentality that makes all teams look the same.
Sometimes, we forget that sponsorship is a form of advertising. There are other forms of advertising that have very similar attributes to ourselves.
So this resolution is a commitment to curiosity. It is a promise to look at other forms of advertising to find inspiration.
It may be looking at how podcasts advertise. Maybe mobile games on the app store. Maybe how brands in our sponsor’s vertical attract customers.
All of these tactics can be molded to fit our games. To work with the mediums we use to reach fans.
Make a commitment to curiosity and finding new inspiration to keep your sponsorship activations fresh.
Resolution # 5: Say ‘NO’ more often
This is a bit of a double down from #3 (Prioritize important over urgent) but many times we become ‘YES’ people in sponsorships.
Our clients ask a lot of us. Sometimes they are simple requests, other times they are impossible to produce. Sometimes they fall in between those two.
But in order to ensure we have the time and resources to produce results for our sponsors, we have to find the limit and be ready to say No.
Saying no doesn’t automatically disqualify you from being a good vendor for your sponsors. Saying no allows you to refocus on what is most important to their goals and their scope.
And that is where you can judge. Does the request help you come through for their most important goal on the partnership?
Is it within the scope of spend?
If it is no to either of those, you need to say no to big requests.
Most of the time, when you reframe the no to you think that the time and energy it would take to fulfill this would massively drain from the campaigns that help them reach their goals, they will understand.
The consequences of always saying yes is on the surface they get satisfaction…but their goals may not be hit due to resource allocation to a request that barely moves the needle.
As a sponsorship team, say No more often this year.
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2025 will be a fantasic, challenging, & exciting year. The 5 resoltuions above will help you navigate the highs and the lows that the sports sponsorship industry brings.
